3 Quick and Helpful Tips You May Not Know About Investing Online
Before you start investing online, take a look at the following three tips. These tips are short, but they might save you some time and trouble later on.
Quickest way to get stock information.
If you’re in a hurry and want basic information about a stock, fast, hit the search engines. Enter a stock’s ticker symbol into the search field in all the popular search engines including Google and Bing. You’ll immediately get the basic information about the stock, including a chart of the stock price, price quote, and market value.
Don’t assume you have to pay commissions.
Online commission are low — but you may not have to pay them. If you have an existing banking relationship with a large bank, such as Wells Fargo, you might qualify for free trades. Also, if you stick with certain exchange-traded funds, many brokers will give you free trades. And apps such as Robinhood offer free trades.
- Knowing how to invest online is important, even if you have a financial advisor.
There’s no question that you can save money if you manage your own portfolio online. Many advisors charge 1 percent of your portfolio annually to run your money, which can add up over time. That’s not to downplay the role of the advisor, though. Many advisors are skilled and may help you make financial decisions that more than make up for their fee. But even if you do hire an advisor, it’s important for you to understand how to invest online so you can understand the moves the advisor is making with your money.