You should be able to link your checking or savings account at your bank or credit union to your account at your brokerage firm. You want to be able to do an ACH transfer. It most likely will depend on the brokerage firm that you go with if they have any minimum requirement for transfer amounts.
If you haven't already looked at TradeKing check out their fees and minimums.
1. Yes
2. You should be able to transfer between account electronically. The accounts need to be linked.
3. There will be a very small fee to the exchange for each trade. It is insignificant.
Good luck.
Hello,
I did quite a bit of research on online trading recently, but would hope to get a couple of questions answered.
1. When a website says that it charges $7 per trade, does that mean I get charged $7 for buying and $7 for selling also? So I have to make at least $14 to break even right?
2. I'm thinking about trading with Merill Edge since it doesn't have a minimum balance, no inactivity fee, etc. My question here is, how would you get money out of your account once you made money? Is there a minimum amount that you need before you can transfer money out to your checking account?
3. I'm a newbie in the stock market. Just wondering if there's any other charges besides the commissions which you have to pay to the online trading site.
Thank you so much!
Em
