Novice wants to set up low-cost investing account.

[chrisrb]

Novice wants to set up low-cost investing account.

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I'd like to start investing, but have no idea how to actually to it.

I'd like to find out about how to begin investing small amounts of money on a monthly or quarterly basis in a single account somewhere that would let me buy/sell no load mutual funds and stocks (preferably, I'd like to be able to own funds and shares from non-U.S. companies, also).

My priorities are:

1. convenience (all trades on one statement), and

2. lowest possible fees (for buying/selling, etc.).

A bonus would be the ability to hold money in foreign currencies, but that's not essential.

Can you give me any suggestions on how best to do this?

I know there have got to be some pretty important do's and don't's about this, and some really good and really bad places (web sites, investment companies, etc.) to get this all set up. I'm hoping to avoid making any really big mistakes in getting my first investment account started.

Thanks, in advance, very much.

[atomicrc11]

Depends on what you are looking for. Vanguard is great for low cost mutual funds but isn't really a full service brokerage. Fidelity is great for both mutual funds and trades. The more money you keep there the lower the cost per trade. Others like TD Ameritrade or E*Trade. Take a look around and see what best meets your needs.

[chrisrb]

My priorities are convenience, low cost, ability to trade funds and stocks ...

I'm looking for:

1. Convenience (the ability to buy/sell both no-load funds and individual stocks, and have it all show up on a single statement from one company)

2. Low cost

You mentioned Vanguard, Fidelity, ETrade, etc. I've heard about a few others.

Can you buy/sell both stocks and individual stocks with all these companies?

If not, which ones allow you to buy/sell both, and which are the best and lowest in fees?

Thank you.

[buzz]

I recently opened an account at Scottrade. Trades are $7 for stocks and ETF's. They have access to a wide variety of funds, but I plan to buy ETF's, so I don't know the details about purchasing mutual funds. If you call their customer service, I'm sure they would answer any questions.

[Broken Arrow]

Honest to goodness, you sound like a fit for Vanguard's index fund investing. I recommend to check them out first.

I don't recommend ETF's or individual stocks just yet. At least, not until you learn more about them and determine your true investment style and risk tolerance. Otherwise, they can be a great way to screw yourself.