with a few keystrokes, but losing your head could mean losing your precious capital. “Brokers try to give you all kinds of tools to encourage fast trading,” Domash warns. “That’s the way they make their commissions.”
BetterInvesting’s O’Hara says good investors are decisive. Beginners may be tempted to size up their skills by using free investing game sites, but using real money has a way of focusing the mind, he says. “Pick an amount you are willing to put into the market every month, as little as $25 or $50,” O’Hara says. “Build your confidence and get into a learning cycle.”
MAKE THE RIGHT CHOICE: TOP DISCOUNT BROKERS
| Discount Broker | Website | Typical Commission** | Account Minimum | No. of Branches | Comment |
| Charles Schwab | www.schwab.com | $12.95 | $1,000 | 270 | Professionals can evaluate your portfolio and make recommendations, one on one, for free |
| Fidelity | www.fidelity.com | $19. 95 |
$2,500 | 114 | Strong research along with tools that can, for example, gauge hypothetical impact of a buy or sell on an overall portfolio |
| Muriel Siebert | www.siebert net.com | $14.95 | none | 7 | Nearly 3,000 mutual funds, few hidden fees |
| Scottrade | www.scot trade.com | $7.00 | $500 | 326 | Low, flat commisssions |
| Sharebuilder | www.share builder.com | $4.00* | none | 0 | Offers the ability to invest in small increments |
| TD Ameritrade | www.tdameri trade.com | $9.99 | none | 100 | Independent research from Standard & Poor’s and Morningstar |
*Through automatic investing program
**Standard price for an online stock trade