• Home
  • About
  • Advertise
  • Contact
  • Policy
  • Guest Post
  • Archive

One Cent At A Time

A Personal finance blog to get rich

  • Email
  • Facebook
  • Pinterest
  • RSS
  • Twitter
  • Beautiful Life
  • Becoming Rich
  • Beginners Guide
  • Extra Income
  • Productivity
  • Saving Money

How to Save Some Money While Trading

May 17, 2017 1 Comment

Share this:

  • Tweet
  • Email

It’s important for everyone to have savings and retirement plans in place. Our most productive years are also the years where we spend the most money, so squirreling away a percentage of our earnings to savings and retirement plans is essential. Within that broad framework are many different investment options.

How to Save Some Money While Trading

You could delve into mutual funds, ETFs, individual stocks, commodities, futures markets, treasuries, etc. The possibilities are endless. Here’s where things get a little tricky: how do you know where to trade, what to invest in, and how much you should be paying for these services?

Some brokerages charge more than others for the similar services. Over the years you’ll discover a huge amount you paid towards the fees alone. It’s essential that you look for ways to reduce trading cost while looking to maximize your trading profits.

Following are some ways to reduce your trading cost

Cost Considerations at Leading Brokers

When it comes to online brokerages for stock trading, there are many options available. You could go with one of the bigger brokerages with a national or international presence and land-based facilities, or you could go for a lower cost and credible alternative like Saxon Trade.

It’s important to evaluate each broker on its merits. At the end of the day, it boils down to personal preferences. You may be okay paying a little more to make your trades and investments by going with a brand name broker. Peace of mind is an important part of the deal when investing money with any broker.

Remember that it’s not simply the ability to buy or sell financial assets that matter – it’s the peripheral services offered by the broker. These include the accuracy, reliability, and relevance of educational resources, market insights, technical and fundamental analysis, etc.

There is no dollar figure that can be placed on this information. It can make or break the outcomes of your trading decisions and the value of your financial portfolio. When evaluating a broker on costs alone, remember to look beyond the nominal fee per trade, or the monthly maintenance fees.

What Are Some of the Most Important Aspects of Online Brokers?

Building a viable financial portfolio is a serious commitment to your future and the broker that you’re trading with. You will always want to go with brokers that do not charge you inactivity fees because your financial fortunes will fluctuate over the years.

Likewise, you do not want to go with a broker that requires a fixed account minimum at all times. The quality of the trading platform is paramount.

Trading platforms that respond rapidly to call options, put options, market updates and real-time market data are best. Stock analysis is also something that needs careful scrutiny.

Extensive market research can be especially beneficial to novices, intermediate-level traders, and experts looking for relevant information on assets and their likely performance.

Low commissions and the widest possible range of investment options should always factor into the decision-making process.

There are also peripheral issues like funding options. When money needs to be transferred from accounts abroad to your retirement accounts, you don’t want to be paying high foreign exchange rate fees, money transfer services costs, and commissions.

That’s why it’s important to view your retirement portfolio holistically. Every time $1 moves from point A to point B, a fraction of it is eroded away.

Digital money transfers are increasingly popular ways to reduce the erosive effects that traditional banks have on money transfers to retirement accounts from abroad.

For example, an investor with resources in Asia may sell those resources or repatriate profits from Asia to Europe, or the US for retirement planning purposes. It’s important that exchange-rate regulations do not eat away at the money before it has had time to be put to use.

FinTech technology has rapidly evolved to make it possible for low-cost money transfers on a global scale.

Never Take your Eyes off the Prize

All in all, you will want to watch every $1 from inception to investment and beyond.

Never take your eyes off the prize when you are investing hard-earned money for your retirement, or simply for savings purposes. Money needs to be managed, and nobody knows the value of your money more than you do.

Readers, in the past, how did you reduce your trading cost? Do share your opinions.

LIKE THIS POST?
I agree to have my personal information transfered to MailChimp ( more information )
Join our community of 8000+ subscribers to increase your net worth and build wealth
We hate spam. Your email address will not be sold or shared with anyone else.

Share this:

  • Tweet
  • Email
The tool that changed the way I manage my personal finance - Personal Capital, The Best Free Personal Finance Tool

Want to start a WordPress blog now? The onecentatatime.com blog is hosted by Siteground Web Hosting. For only $3.95 a month, Siteground can help you set up and host your website/blog quickly and easily.

About the Blogger Hi I am SB, a personal finance enthusiast with a career in software development. I am an immigrant to the USA since 2005, after being born and brought up in India. This 40 something technocrat lives and breathes personal finance whenever he gets time from the day job, job as a husband and a dad

Some links on this page may be affiliate links, if you make a purchase following the links, I may earn a commission. Read affiliate disclosure here
« A Noobs Guide to Setting Up an Online Store
Dorms or Off Campus? Which is better Financially »

Comments

  1. Richard Smith says

    May 19, 2017 at 2:33 PM

    It’s a great idea to work with a broker when you’re new to trading But that doesn’t mean you don’t have to watch your portfolio. There are many amazing investment tools out there for monitoring your money. Using a trailing stops calculator, in my opinion, is one of the best ways to be sure your investments are on the right track. And while you use an investment calculator to track your growth, you can learn a lot about how the stock market works.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



Create your own blog in 20 minutes and $20

Personal Capital, a free tool to change your financial health today

I use and suggest Upstart, for your personal loan need

CreditKarma, a free tool to check your credit scorey

I use Coinbase, for my crypto investments

101 Cents at a Time

101 Ways to Earn Extra Money on the Side
201 Frugal and Perfect Birthday Gifts
101 Ways to Save Money Everyday
101 Ways to be Better and Successful at Work
101 Ways to Save Environment and Energy
101 Frugal and Romantic Anniversary Ideas
101 Low-Cost Men's Fashion Ideas
101 Personal Finance Tips
101 Ways to Reuse Household Stuff
101 Things to Do, When Nothing to Do
101 College Graduation Gift Ideas
100 Tips for Ecommerce Startup
101 Ways to Enjoy Indoor During Winter
101 Ways to Beat Procrastination

Popular Posts

Quick Cash - How to make $100 legally, in a day
Living well on less than $15,000 a Year
Top survey sites for side income
What to do when auto repair goes wrong
Where should I invest my money now?
20 Ways to be productive and happy at work
51 Ways to get out of debt
Be a better person in 15 days, 15 ways
Income ideas for retirees and senior citizens
51 side jobs for college students
Urgently need a large amount of money?
Should I buy or should I rent?
Best Personal loan providers
25 Ways to save environment
25 DIY car repairs to save money
How to decorate office cubicle
How to show your wife you care
50 Financial Rules for Success
51 Frugal weekend family activity ideas
Become Rich By Saving 1 Hour Of Daily Wage
How much do I need to save for retirement?
How to negotiate your salary

Follow us on FaceBook

About Author

SB

Blogger by choice and IT manager by profession. Finance is my passion and gardening is my greatest satisfaction. Born in India, settled in US, Husband and a father. I created this blog in 2011 with a vision to help others. Thanks for your patronage. More info on my "about" page.

View all posts


Subscribe

Join our community of 5000+ subscribers to increase net worth and build wealth

Advertisements

Personal Stories

How I got a new HP computer replaced
Was COVID circulating in USA in fall of 2019?
How my credit score went up 800+
Why I didn’t invest in Bitcoins
How I controlled impulses to buy things
Why this blog is named One Cent at a Time

Subscribe via Email

Site Disclaimer

Disclosure of Material Connection: Some of the links in this web site are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Read full Affiliate disclosure


One Cent at a Time is published by SB. The opinions expressed herein by him are his own and not those of his employer or anyone else. All content on One Cent at a Time is for entertainment purposes only. By reading this blog, you agree that SB and/or One Cent at a Time is not responsible for any actions taken after reading this blog. For the full disclaimer, click here .

Major Media Mention

One Cent at a Time Media Appearances

Copyright © 2023 One Cent At A Time · Designed by Nuts and Bolts Media