Online Stock Market Trading: Tips and Tricks - Make Money Online

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Online Stock Market Trading: Tips and Tricks

Online brokers have pretty much replaced the traditional broker. The rules are changing. The old rules do not apply anymore. That is why you need to be careful when dealing with the broker you choose.

There are certain things he or she are not going to tell you. That is why you will hopefully read this content. There are seven things you need to know about the online trading world that your broker is not going to tell you.

1) Did you know that you might pay an inactivity fee. The fee is carefully hidden in the rules and bylines you set up with your broker. The reason is that you are required to make a certain amount of trades per month. Those who fall short pay a fee. That fee is usually between $50-200. Read the bylines and rules your broker gives you. You need to keep a set balance too. CFDpremium
2) You can switch brokers a lot easier than you realize. Here is how you do it. Fill out the application form online. Your funds will be switch once you are approved. You also do not need to sell your assets to do it. Brokers just want you to think that.

3) Transfering money is going to cost you. That is the only downside to doing what I just talked about. Brokers do charge a fee for switching. It is usually in the range of $50-75. The upside is that you pay less when you only transfer a portion of your account. Your broker gets a fee for that too. Your broker might also charge you for doing extra research. This is legal too. It might seem like the guy is taking advantage, but he is not. He is within his legal right to do this. ECNpremium

4) You can trade commision free. I am betting a lot of you did not know that. There are apps you can use to do your trading that comes free of charge. The only reason you do not know about them is that your broker does not want you to. He loses money every time he is not involved. Apps like Robinhood and Loyal3 are here to get you started.

You can also try Merrill Edge. The only downside is that you need an account with Bank of America and maintain a monthly balance of $25,000.

5) The promotions they offer are not what you think. A lot of them come with hidden requirements. You also need to have a bank balance in the range of $50,000 and higher.

Do you have a 401(k) you want to roll over? You can do it as long as the amount is what I listed above. You will get some free trades and promotions, but it is only for a limited time.

6) The platforms they advertise are not open to everyone. In most cases, you need to have a minimum balance and trade on your broker's site. TD America and Trade Architect offer more trading options. You can check those two out. You should read the rules and regulations before doing anything though.

7) You can be held responsible for damages and fraud on your account. Now, you may only pay $50, but the fraud needs to be reported in 2 days. You need to protect yourself against online fraud. Your broker is not going to do it.
Online Stock Market Trading: Tips and Tricks Online Stock Market Trading: Tips and Tricks Reviewed by Dhanur Chauhan on 4:27 AM Rating: 5