Albuquerque Business Daily

Is there a minimum amount for investing with stockbroker?

I have stated interest in investing in some stocks through a stockbroker. Since I am 14, I do not have a lot of money. My father says that stockbrokers will not do business with someone who only wants to invest 100-200$. Does this claim have any truth to it? Will stock brokers do business with me? Thanks.

Public Comments

1. Unfortunately you need to be 18 so you will need the help of your dad. You don't want a stockbroker because it will eat up your entire savings with the fees. Sharebuilder is a good cheap broker. You can even get a bonus of $50 I believe for signing up. If you have earned income it's a great time to start a Roth IRA. You can do it for as little as $50 a month a T. Rowe Price.
2. RJW is partially corect. SOome states require you to be 18, others 21, BUT you can set up a custodial account with your parent or legal guardian. And if your parents are nice, they will let you be in control of the money and let you trade...however, do not get a head of yourself, for knowledge is power in the investment world. Knowledge=power=control Also, some brokers will let you set up an account with only $100, but i suggest get at least $500 before you try investing b/c $200 really isnt that much money to invest with. So, yes, some stock broker,s but i highly suggest you to get a little bit more money. http://alpha-investing.com/ The site above gives good stock recommendations so if you do plan on investing, check it out. I suggest blue chip stocks because those are the safest - GE as my personal fav. Good luck.