Expert: Gina Boykin - 12/28/2007

Question
Ms. Boykin,

What are some good sites for beginners who want to invest online? Specifically, can you please name some sites that are reputable, generally easy to manage and have low commissions?

Thanks

Answer
For beginners, I would suggest starting with mutual funds instead of individual stocks.  If you chose this route, you will look for no-load mutual funds.  A load is similar to a commission.  It's a fee charged when you buy or sell fund shares.

Reputable companies for mutual funds and stocks include:

PREMIUM BROKERS
Fidelity  www.fidelity.com
Vanguard  www.vanguard.com
Charles Schwabb   www.schwab.com
TD AmeriTrade  www.tdameritrade.com
E Trade https://us.etrade.com

DISCOUNT BROKERS
Scottrade www.scottrade.com
OptionsXpress   www.optionsxpress.com
Muriel Siebert www.siebertnet.com

Stock commissions vary by broker, but they also vary based on the total amount you will be investing and number of times you plan to trade.  Fees are lower for larger accounts, and for more frequent traders.