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Investing
online is easy, if you're careful Most people agree investing is tough. But it doesn't have to be, especially if you're investing online. Internet investing is growing exponentially. However, if you're considering it, be mindful of the many pitfalls. It is so easy to trade shares indiscriminately that you can rack up a lot of commissions and fees, but little profit. And there may be a significant lag time between the time you buy or sell and the time the transaction is actually executed. There is no substitute for financial advice from a broker you trust. That said, for the knowledgeable and disciplined investor, e-trading gives unprecedented control and flexibility to take advantage of fluctuations in publicly traded shares. E*Trade Canada is a popular e-trading website. It allows you to take advantage of trading opportunities online through personalized investing tools, including portfolio tracking, real-time stock quotes, market news and analysis and much more. The commission charged by E*Trade can be significantly lower than those charged by brokers. For example, E*Trade's commission on the purchase of 10 Canadian Tire shares is only $27, compared to $85 at a broker. When purchasing up to 1000 shares, the difference is more apparent: Still only $27 with E*Trade, but over $600 with the broker. You should shop around for the best commission rates relative to the amount of trading you want to do. Need more advice? Financial news and analysis is available free (though sometimes in a limited form) on the Net, and plenty of useful investor information can be found online. The CNN Financial Networks has a wealth of tips, links and resources for investors. The Motley Fool allows regular people to offer their investment advice online. Mutual Fund Online Magazine features the "Fund of the Day", "Dog of the Day" (the day's worst performer), plus detailed stats on the performance of many popular mutual funds. Quote.com provides real-time stock quotes. You can also visit Canada's main stock markets (tse.com, vse.ca) for more market information. And if all this talk of money gets you down, visit the Dollar Stretcher for money saving tips on "frugal fun" and hosting a "smashing party on a budget". Links:
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