Who is still paying $100 to $300 to trade stocks now a-day? It used to cost this much depending on how many shares you’re trading with a full service investment firm. Once I had a very dedicated stockbroker, who used to call me at 6:30 AM to brief me on the stock of the day or my account, and thereafter I would give him an execute-decision, to sell or not to sell. I am not joking, my brain had to already be in full swing at that time.
Those wake-up calls are long gone. I am sleeping more, because there are online broker firms charging as little as $6.95 a trade. Online trading is convenient for whenever I want to change my limit price, or cancel a trade after hours. What's more I even have mobile trading for when I am on the road, unlimited access to my broker, mutual funds, option, and IRA accounts.
Stock trading is attainable even if you don’t have a lot of money to invest. The margin rates are currently 5% to 7.75% as opposed to 15% to 19% years ago. If you are into trading stocks and options the interest rate is cheaper than ever, and as far as the interest rate earned on your cash is concern, it’s as competitive as banks, or may even be better in some cases.
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