Online trading accounts are allowing individual investors to take a bull of a stock market by the horns.
By taking the time to research an online trading account that is easiest for you to navigate, opening the account and depositing funds into your online trading account, you will be able to act as your own trader. Online trading account will give you the ability to buy and trade stocks of your choosing at will, by providing you access to a brokerage’s Internet-based proprietary trading platforms.
Some Web sites let you practice
Some online traders offer clients trial runs using real stocks but fake money in order to acclimate to their system. Once you are fully versed on using the tools of the brokerage proprietary platform, you will be ready to fund your own account to start actually trading.
How do I start trading?
There are several options that you can use to deposit funds to an online trading account.
However, the exact options offered, time limitations and other restrictions may vary from brokerage to brokerage, but common options are:
- Paper Check: Once you set up your online trading account, you will make a paper check out to yourself (as that should be the name on the account) and mail it to the address provided by the online brokerage firm, more than likely there will be a waiting period for the check to clear
- PayPal: Paypal is a third-party software provider that allows individual to transfer money and pay other individuals electronically, you will be charged additional PayPal fees of 2.9% + an additional $.30, the transfer may take up to one business day and additional PayPal account restrictions may apply
- Credit/Debit Card: Typically these type of funding option is free of charge for the account holder but may take one-to-two days to fund, interest may charged by your credit card company if you opt to fund that way
- E-Check: You can issue an online electronic check from your bank which will take additional time to fund
- Bank Wire: Bank wires are an electronic transfer from bank to bank that may take a couple of days to fund