About Online Stock Trading Sites

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The Web sites that are used for online stock trading are licensed, and there are many such sites, including those from most major banks. Learn about getting money out of an online stock account 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 and the finance world for well over twenty years, and today, the question is about online trading sites. What are they? How do you find em'? Well, obviously you found us online. When you look online for online trading sites you need to make sure that the sites you're looking at are licensed, that they have people inside their company that are licensed, and more importantly, what is their track record? There's so many out there, E*Trade, Charles Schwab, most of your major banks. You know, when you look online you'll see a whole ton of em'. In today's environment, as anytime, we urge you to make sure you understand exactly what it is that you're signing when you sign an agreement with them. What type of fees are involved? What's their minimum money down? How do you get your money if you decide to get out? Is it liquid? As you can see, there is so much you need to learn. It's not really overwhelming, but you need to start doin' a little homework. You know, sometimes we plan for vacations with much more detail than we do when what we're putting our money. Too many times we do what we call the watercool, watercooler investment; I heard from a friend from a friend who said. Probably not a wise way to invest your money. Any type of investment brings within itself inherent risk of loss. You need to understand that. As always, we recommend that you talk with a licensed person in your state that is well qualified and understands the laws and the risks involved in any type of online trading or in person trading. As always, we recommend seek advice, understand the agreements that you're signing. Understand what it is required of you. Understand how you can get your money back. May take a little bit of time to get these down, but if you do you'll be well rewarded. 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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