Practice Stock Trading Accounts

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About Stock Trading Accounts....5

In order to practice stock trading accounts, go to the Web site of a bank or brokerage that will allow a person to do practice transactions. Learn about practicing stock trading before exposing oneself to risk with help from a licensed financial planner in this free video on the stock market and investing.

Part of the Video Series: Stock Market
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Video Transcript

My name is Bill Rae. I'm with Alumni Financial Services. I've been in the business of the finance world for well over 20 years and your question is about practice trading accounts. Excellent. With today's technology, more and more banks and more and more brokerages are finding that it's very easy to put on their websites systems that will allow you to do if you will pretend transactions. So what we're talking about is simply, think of it as a Monopoly game if you will, where you can learn how to buy stocks, trade stocks, how to track the values, how to learn about companies. We're not here to give you stock advice by the way. You need to seek out a licensed broker in your state. Many brokerages are licensed in all 50 states so keep that in mind also. Seek out ones that will allow you to actually learn how to do this before investing. Might want to talk with your local banker, perhaps they have one. But anyway, the bottom line is, it's simply a game if you will, not real transactions meaning your money really doesn't go anywhere and you really don't gain or lose. That sometimes can be unfortunate if you get a good ride, but again it's simply learning and it's a tutorial if you will. An excellent way to learn about investing and finances. However we always tell you, when anything dealing with finance, make sure you understand the contract, make sure you understand the agreement you're signing, make sure you understand what is required of you, the length, what returns you should expect and as always seek outside counsel. My name is Bill Rae, I'm with Alumni Financial Services and as always, we're here to help you build wealth.

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