Which Broker Company

[laurinsane]

Which is th best online place to buy stocks from? I was thinking of setting up some kind of automatic tranfers from my banaccount to buy S&P 500. I don't know which is the best fee wise for that. I looked at Fidelity but didn't know if anyone knew a better place. Thanks.

Lauren

 

[LOL!]

Fee-wise, the best is Vanguard and you could buy their VFINX mutual fund. With Vanguard you can do the automatic thing you wanted. However, you should consider a different investment than the S&P500. Take a look at the total stock market index fund: VTSMX and the international FTSE all-world, ex-US index fund VFWIX.

However, I should note that the 'best' will change depending on how much money you have to invest.

 

[laurinsane]

I was looking to start off with $1000-$2000 and then deposit $100 every week or every other week. I dont' knwo much a about stocks so I figured an index would be the best way to go for now.

 

[LOL!]

You will need $3000 to start off in one of those Vanguard funds that I mentioned. Vanguard has a fund that one can start with just $1000: the STAR fund, but I would not hold it in a taxable account.

BTW, even if you knew a whole lot about stocks, an index fund is still the very best way to go.