The millions of investors currently logging onto online brokerages are frequently first-time customers of a discount brokerage, and often first time investors. They usually arrive with many of the same common questions, misunderstandings, and misconceptions relating to investing in general and how the online brokerage world works in particular.
For every online and would-be online investor, it's time to dispel the myths and clear up the confusion and misunderstanding about what investors can and can't expect from an online discount brokerage. In this comprehensive yet friendly how-to guide, financial expert and brokerage industry insider Jack Guinan offers answers investors need before they make their first trade. From the initial process of opening an account, to answers about account transfers, margin accounts, how trades work, and troubleshooting problems, this information encourages investors to maximize their relationships and investing opportunities through an online broker.
Mastering these online brokerage basics, investors will be able to:
*Deal confidently with their online broker
*Sidestep potential roadblocks in the complex application process
*Fund their account and switch brokers without costly surprises
*Understand the mechanics of getting investment orders filled
Jack Guinan, MBA Northeastern University, has many years experience in the financial industry, most recently as regional sales representative for Fidelity Investments. He has also been a senior trader for the Spartan Brokerage division of Fidelity, a brokerage trader for Brown and Company, and a mutual fund analyst for the Bank of New England.