How Do I Start Online Stock or Commodity Trading With Just $100 ?
Saturday, November 29th, 2008 at
7:05 am
collie asked:
actually $100 is all i can raise for now, i live the third world, or i should just forget about it all together.
actually $100 is all i can raise for now, i live the third world, or i should just forget about it all together.
Tagged with: Online Commodity • Online Stock • Third World
Filed under: Commodity Trading
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That depends on the suitability of the market where you live. In the US you would be rejected by all brokers for lack of reserves and possibly net worth.
try Sharebuilder.com they let you invest as little or as much as you want.
I would suggest sharebuilder as they have no minimum for opening an account. Just be aware that the fee for trading just one stock could very well eat up 10% of your $100.
Forget about it. Stocks make money through dividends or the rise in price. Any stock under $1 is considered Over the Counter. They are not reported on the NASdEQ/NYSE etc. Consider the stock made an astounding 50 cent increase – That would net you about 38 dollars. You have brokerage sell/buy fees and stock validation fees. There are very, very few stocks at that price that leap that high in price – that is why they are so cheap.
A rule of thumb is if you can’t afford to lose it, don’t invest it.
Try a micro-economic loan program in your country. The rewards, financial and emotional, will be much greater.
I don’t know what country you live in but don’t risk all your money, if you want to save and invest that’s fine but be prudent. You first need to open a bank account in the US, but that could be difficult for you, then you could transfer money to an on line trader like Sharebuilder.com, Scottrade or Ameritrade. Another option are financial institutions in your country.