About Stock Trading Accounts

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A stock trading account is similar to a savings or checking account in that it is a place where a person puts money that they use to buy investment vehicles. Learn about how stock trading accounts are nothing more than a holding place 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

Hi, my name is Bill Rae. I'm with Alumni Financial Services. I've been in the business and the finance world for well over 20 years, and today, we're going to talk about online stock trading accounts. First of all, I should let you know that in this limited time, in no way, shape or form, are we attempting to give you stock advice. You need to talk to a licensed individual for that. You need to sit down and understand your personal goals and what you're willing to risk. But online stock trading or any stock trading account simply is think of it like a savings account or a checking account. It is a place where you put your money and use that money to buy stocks, bonds, whatever type of investment vehicles you're looking. Every major brokerage house will allow you to do this. Many major banks are now into it. There's so many places for you to have an account. E*TRADE, Charles Schwab. Do a little homework, shop around for, you know, what type you're looking for. Are you looking for someone that will hold your hand and guide you in all them type of transactions, or are you more seasoned where you know how to look at certain businesses and understand what the risks are and do your own buying and selling? Again, generally, accounts are simply nothing more than a holding place where to put money as you make your transactions. But as in all investments, we urge you to understand the agreements or contracts you're signing. We urge you to seek outside counsel. Make sure you understand what it is you're getting involved in, what monies are required of you, how long are they going to hold your money, and what type of return on your money should you expect? When you play the stock market, do understand that there are risk of loss. However, there are also risk of gains. The higher the gain, usually, the higher the risk. But again, speak to a seasoned person and a licensed person when it comes to these type of vehicles. My name is Bill Rae, we're with Alumni Financial Services, and as always, we're here to help you build wealth.

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