Online investment?
How do i detect a fraud or legit one?
Answers:
depends on your trading style. Sharebuilder is NOT a day trading site and has very high selling fees. There are some low cost brokers out there but I do not recommend them. The one I am currently using is Scottrade thay have been fair to me so far and got my cash reserve back to me very quickly.
I would not invest online at all unless it was through a reputable online broker where there are contracts mailed to you to sign and verification.
They are most likely all scams and ponzi schemes. Which would make them illegal in the US.
For legitmate investments see below but still do your own due diligence, get references, review contracts and never invest more than you could lose.
Here is a reprutable firm:
www.sharebuilder.com
Its also affordable.
If the firm or company is regulated by NASD then you know there are legitimate.
You can of course also check ANY business with your local BETTER BUSINESS BUREAU and you can also check complaints on investin online through the NASD organization.
You should only deal with reprutable firms such as a Bank online firm at:
www.bankofamerica.com
www.wellsfargo.com (WELLS TRADE)
www.etrade.com
www.wachovia.com
www.usbank.com
www.citibank.com
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Use your good judgement when investing online.
Beware of online solicitations and scams and report abuse to the Federal Trade Commission or the Attorney Generals Office for your state.
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Hope these tips help you!
Have a great week ahead!
GOOD LUCK! :-)
Depends on what you want to invest in.
I use Vanguard for my Roth-IRA and for mutual funds.
For my individual stock accounts, I use Scottrade
For my liquid accounts (savings account) I use EmigrantDirect.com
If you come across somewhere that promises 2,000 percent returns guaranteed! It's probably a scam. Anywhere that promises returns, other than a savings account or money market account, it's probably a scam. If it sounds too good to be true, it is.
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