How to Use Facebook for Investing Online - dummies

How to Use Facebook for Investing Online

By Matt Krantz

Face it, online investors need access to information and it’s helpful to find ways to talk with other investors. Facebook might not seem like a place where much business is taking place, but Facebook can offer some help to online investors, including the following:

  • Keeping up with developments at your broker: It’s common for online brokerages to host a Facebook page, and if you indicate you like the brokerage, you’ll get a glimpse of what’s new at the firm. Some brokers make market commentary available to Facebook members who are its fans. Most of the major brokerages maintain pages on Facebook, including Charles Schwab, Vanguard, E*TRADE, and TD AMERITRADE.

    It’s pretty easy to become a fan of a brokerage firm. After you’re logged on to Facebook, enter the online brokerage firm’s name into the search box at the top of the page and click the magnifying glass icon. You’ll see a link to the firm’s Facebook page. Just click the ”Like” button, which has a thumb’s up icon on it.

  • Communicating with your broker and other customers: Sure, you could always pick up the phone and call your broker. But some online investors might want to connect in a more public and online way. For instance, you can either applaud or criticize items on the brokerage’s Facebook page and see whether any other customers agree with you.

  • Having a conversation with other fans: It’s not common yet, but some online brokerages, such as Zecco, maintain community groups on Facebook. Community groups are corners of Facebook set aside for members to discuss topics of interest. To join one, just search for the group and click the Join button.