Setting up your share trading account

Looking to start your very own share trading account but don’t know where to get started?

The good news is that setting up an online share trading account is a relatively easy, hassle-free exercise.

But before you sign up for a new account, you owe it to yourself to do a little research and find an online broker that suits your needs and financial position.

For this reason it is worth reading widely about the different features and prices on offer from the various stockbrokers operating in the market.

Generally speaking, online share trading accounts have cheaper brokerage fees than traditional brokerage firms. Some services will charge you as little as $17 or $18 for a trade up to $5000 value.

This means that using online brokerage services you could begin your trading career with as little as $1000.

The flipside, of course, is that with online brokers you get far less investment advice and support than you would from a traditional broker.

Traditional brokers have far greater costs involved but can also accelerate the learning of new traders by lending their wealth of experience and knowledge to your trades.

It is a good idea to find out about both online and traditional brokers before you commit to one or the other.