Can i buy and sell shares online without a broker?
If you are looking to buy stocks of companies that are listed on the NYSE, AMEX or NASDAQ, you need a broker to complete at least the first transaction. For companies that have Dividend Reinvestment Plans, usually, once you have made the first investment, you can enroll in the plan, which then buys additional stock with dividend payouts. Most DRIPs also allow you to invest additional money. The downside is that the investments are made on a quarterly basis, not immediately. All other stocks (without DRIPs) must be purchased through a broker as they are the only ones with access to the trading floor/electronic exchange.
Yes you can do it yourself without a broker. The sites charge you what they call commission fees. Some sites charge outrageous fees but Scottrade only charges $7. It very easy and fun. 1. Go to Scottrade.com and open an account -$7 online trades (cheapest on the web, yet very reliable) GREAT SITE 2. Deposit your money into your Scottrade account 3. Research companies – if you dont know anything about stocks there is a knowledge center that will teach you all you need to know about basic stocks. I didnt know anything when I started, I taught myself. 4. Bid on a stock with how many shares you would like. 5. Make money out of money. If you really do the research and stick to it, you can really make some money. Its a blast! I’ve been using them for a while so if you have any questions feel free to email me at b.alexander68@hotmail.com. It might sound hard but it really isn’t. Scottrade.com $7 Stock Trades If you want 3 free trades when you sign up, just use this code: ****** QDOB2020 *****
