Help with "play money" investments

[nnkrealtor]

I have about 2000 of "play money" that I want to invest in some individual stocks. I already have a vanguard IRA account. Could I open a seperate vanguard account and trade stocks with vanguard or are there good reasons to open that "play" account somewhere else like a Scottrade or the like? For instance is vanguard slow to execute or anything like that?

any advice would be great, Thanks

 

[seabourne]

one used to be able to get some account opening bonuses for opening trading accounts. Sharebuilder was the one I use/used, now owner by ING. Look for a coupon to open it for a bonus. With 2000, good short term return. Also, sharebuilder has a once-per-week investment option for $4 that should help reduce your trading fees. If you're trading for learning and quickly, don't be astonished if you lose a good deal of money. School costs.

 

[nnkrealtor]

sharebuilder has a once-per-week investment option for $4 that should help reduce your trading fees. QUOTE]


Would you please explain that a little more? is that like a 4$ per week credit toward your trading fees?

 

[seabourne]

Online Stocks Trading: Trade Stocks Online at ShareBuilder.com

This is a link to their description/information. Basically, you set up trades to be executed end of day on Tuesday, and they bundle all their trades together, and only charge you $4 to execute yours. Not useful for daytrading, good if you are investing, where a day or hours difference in pricing isn't likely to impact your decision making.

Here are a couple of possible bonuses you might use for opening.

Current Sharebuilder Promotion Codes + Reduce Trade Costs - Related links

 

[photoguy]

You can open up a brokerage account at vanguard. Although they recently reduced trading costs (i think mine went from $20 to $7 -- depends on the amount of assets you have in vanguard funds/etfs), they are still high unless you only trade infrequently.

 

[FinanceDude]

$2000 isn't enough money to get any leverage, but I suppose VG or Fido or Schwab or even Amertrade would work...........

 

[Uncle Drew]

If you plan to trade often...

With $2,000, you really have to watch commission charges. Just the fees to get into and out of a position will eat up most of your gains.