Anyone here invest in stocks?



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PostPosted: Wed Mar 30, 2016 12:51 pm 
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I've never done, have wanted to for a long time now and see a big opportunity in a few companies. I've been referred to sites like Scottrade and other discount online brokers, my biggest hangup is putting my social security and personal info into this site using my home computer or even a public computer, identity theft seems to be common place these days and the idea of putting out my info makes me very nervous. Are there very many options in discount brokers as far as brick and mortar offices?


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PostPosted: Wed Mar 30, 2016 1:20 pm 
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nathoonder wrote:
I've never done, have wanted to for a long time now and see a big opportunity in a few companies. I've been referred to sites like Scottrade and other discount online brokers, my biggest hangup is putting my social security and personal info into this site using my home computer or even a public computer, identity theft seems to be common place these days and the idea of putting out my info makes me very nervous. Are there very many options in discount brokers as far as brick and mortar offices?


I specialize in trading a stock index future, but it is essentially like stocks.

I would not go with a big name, unless you are that paranoid of giving out your personal info, because you will pay many times what you could in commission. There are more brokers than you can shake a stick at, it's a business like anything, so there is tons of competition. I have been with a small discount all online broker for going on 7 years. I mean, there is always the chance of getting very unlucky (look up MF Global) but most likely you will be fine. Most brokers make so much money off people trading, there is no reason to steal your identity. You have to think... real hackers, do they want to go after a tiny lil guy, or a big corporation with much more data/resources...?


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PostPosted: Wed Mar 30, 2016 2:01 pm 
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Hey masterm1ne, thank you for the reply/advice, I have a few short questions;

"You will pay many times what you could in commission", Scottrade claims it only takes a 7$ commission, how would I be paying more with a big name?

"There are more brokers than you can shake a stick at", are most of them online?

While still being a "tiny guy" I have almost 15,000$ in savings that I'm sure a hacker would have a field day with.


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PostPosted: Wed Mar 30, 2016 3:28 pm 
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nathoonder wrote:
Hey masterm1ne, thank you for the reply/advice, I have a few short questions;

"You will pay many times what you could in commission", Scottrade claims it only takes a 7$ commission, how would I be paying more with a big name?

"There are more brokers than you can shake a stick at", are most of them online?

While still being a "tiny guy" I have almost 15,000$ in savings that I'm sure a hacker would have a field day with.


Exactly Scottrade is 7$ ... my broker is $2.4 a round turn.

Most of them have a website, but the biggest discount firms are mostly all online and only have a few guys in the office. The more you see something advertised, the more expensive they are. How do you think they pay for that stuff?

Bro... think about it. Your 15k is peanuts... Why would someone go after your measly account while there are plenty fund accounts in the hundreds of millions....? with the same firms...???


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PostPosted: Sat Apr 09, 2016 3:20 am 
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If you can't pay for a stockbroker, get an ETF on the market itself. The market outperforms about 90% of investors anyways.


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