Posted by: Violet7 November 18, 2011
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Lets take Scottrade brokerage for example. You will need a minimum balance of $500 to open an account and yes you can use this $500 to buy stocks. Once you open an account, there is no minimum balance that must be maintained.
A broker is someone who buys and sells stocks if you tell them to do so and they get a commission everytime you trade. For our example, Scottrade is the broker and every trade that you make is done online.
Stock prices can change anytime between 9.30am and 4.00pm EST. New York Stock Exchane opens and closes at these times. Oh by the way, the chances of apple stock going from $500 to $600 overnight is almost zero. Well, that's what I think but you never know. Today, it last traded at $377.
A broker is someone who buys and sells stocks if you tell them to do so and they get a commission everytime you trade. For our example, Scottrade is the broker and every trade that you make is done online.
Stock prices can change anytime between 9.30am and 4.00pm EST. New York Stock Exchane opens and closes at these times. Oh by the way, the chances of apple stock going from $500 to $600 overnight is almost zero. Well, that's what I think but you never know. Today, it last traded at $377.