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  • 1. Online Stock Trading By: Jennifer Albanese
  • 2. Overview of Online Trading
    • The days of keeping in constant contact with a broker and paying a fortune for stock trades are over. Today, more then half a million trades are made everyday online. Thanks to the internet, people can now make trades just about anywhere from their couch, their lunch break or on the go.
  • 3. Overview of Online Trading
    • Customers can now buy and sell stocks, options, bonds, and other financial instruments using online broker’s web sites and systems
    • There are so many broker’s to choose from. Some of the most popular ones are
      • Charles Schwab
      • Etrade
      • Ameritrade
      • Datek Online
  • 4. Advantages of Online Trading
    • Extended hours of trading
    • Several forms of online research (public and exclusive)
    • Cheaper trades
    • Complete control of your investing decisions
  • 5. Top Websites- E*Trade
    • Costs
      • $15 per trade
      • $15-$35 for broker assisted trades
    • Key Benefits
      • Chat rooms, message boards, real-time account information, automates performance reporting
    • Downfalls
      • Three tier membership makes website difficult
    • Recommendations
      • Traders who focus on long-term returns
      • Traders who buy stocks and hold them for years
      • Users who are looking for services and research
  • 6. Top Websites- Ameritrade
    • Costs
      • $8 per trade
      • $12-$18 for broker assisted trades
    • Key Benefits
      • Customized email alerts, very good customer service
    • Downfalls
      • Does not provide streaming data or Nasdaq level II quotes
    • Recommendations
      • Investors who buy and sell stocks frequently
      • Investors who are looking for cheap trades and prompt executions
  • 7. Top Websites- Charles Schwab
    • Costs
      • $29.95 or $14.95(for active traders) per trade
      • $35-$39 for broker assisted trades
    • Key Benefits
      • Real-time account information, easily navigable website, excellent research
    • Downfalls
      • Fairly expensive trades
    • Recommendations
      • Traders who focus on long-term returns
      • Traders who buy stocks and hold them for years
      • Users who are looking for services and research
  • 8. Top Websites- Fidelity
    • Cost
      • $15 per trade
    • Key Benefits
      • Extensive email and wireless alert capabilities such as price triggers and new issue offerings
    • Downfalls
      • Less then average customer service, limited online transaction history
    • Recommendations
      • New online investors
      • Investors who desire a physical branch to visit
  • 9. Wireless Technology &Trading
    • Trades stocks anytime, anywhere just by tapping your PDA, phone or pager.
    • Designed for very active traders
      • Those who place over 20 trades a month
    • Advantages
      • Receive alerts
      • Data access
      • Often a more secure network then general internet (Sprint PCS)
  • 10. Services Provided $30 and up, plus $55 monthly service fee Quotes, alerts, trades. account information, and news from Palm IIIx and Vx devices (RIM pagers and web enabled phone to follow) Charles Schwab $8 Quotes and trades from Palm wireless devices and Sprint PCS Web phones Ameritrade COST OF TRADES ACTIVITIES/ PLATFORMS BROKER
  • 11. Services Provided $15 Trades.market updates, and news from Palm devices, AT&T PocketNet, Verizon and GTE wireless phones E*Trade $14 and up Trades and information from Palm wireless devices two-way pagers and web-enabled phones Suretrade COST OF TRADES ACTIVITIES/ PLATFORMS BROKER
  • 12. Other Brokers Providing Wireless Services
    • DJLDirect
    • Fidelity
    • Morgan Stanley Dean Witter Online
    • TD Waterhouse
  • 13. Problems Online
    • Broker’s site goes down
      • What do you do?
        • Call Broker and talk to a live person or use tuch-tone service
        • If available, visit a physical office nearby
      • How do you prevent it?
        • Not much you can really do
        • Have accounts at several firms
  • 14. Problems Online
    • Double orders or no cancellation
      • What do you do?
        • Do not trust email notifications- your order may not have actually been reversed
        • Phone your broker and have someone check for you
        • Attempt to call and beg to have the order cancelled if it has gone through, doesn’t work very often
  • 15. Problems Online
    • Bad customer service
      • How do you prevent this?
        • Thorough research of companies
        • Keep a close eye on all monthly statements, trade reports or electric confirmations
        • If you call customer service, take notes and get support agent’s name.
  • 16. What’s in the future
    • All brokers offer online trading?
    • Online trading mostly wireless?
    • Even cheaper trades?