 Hey everybody, how you doing Russell Moore with dedicated to financial literacy? Welcome to my channel again. Thank you. Thank you. Thank you so much Hey, I just want to remind you to hit the subscribe button Notification for future content that I'll be giving out that I'll be I want to continue to pump it out pump it out I'm glad pump out content. Okay been trading for a while long time investing for years And I just want to share my experiences. I am not a financial analyst I don't have a degree in economics So I I want to make that disclaimer now. I will never or never never Tell you what stocks to purchase or what to invest in that is not my job I just want to direct you and point you so that you can have as much success as possible As a trader and as an investor. Okay. All right. Now before I go into what the topic I'm going to go into today. I wanted to just give a little shout out to in vitca Uh, I here's my in vitca watch. It's uh, I collect them and I'm not getting any money So don't send me any crazy comments. I don't get anything in vitca. Doesn't even know I'm doing this I just had to give them some love because I love the quality of the watch Um, uh, I like I said, I collect them. This is my captain america watch right here Okay, and they have a whole line on a marvel characters for those that love marvel characters You know, uh, I'll probably wear my Thor at one point And uh, but yeah, it's a beautiful beautiful watch and I just want to give them some love. So in vitca in v i c k a dot com go there. All right Okay, onto the topic of today. We're going to talk about choosing a discount broker and again This is for people that um Are new to the market you want to trade you don't know what to do You don't know how to get started. I always say save and get out of debt save reduce expensive save save save Now but if you're going to save a regular savings account, you're not doing yourself any any justice first of all What you're not even getting 1% at a at a at a bank at a savings account So if you've got your money in a savings account, you're pretty much losing Let me tell you why because of inflation. I did it. I did it. I did a video on inflation You might want to check that out. Okay inflation creation So, um Yeah, because of inflation, there's no way that your your your money is just sitting there You can put it somewhere where it's making more money. I would even get a bond I'd get a treasury bond before A savings account and so it happened even a higher yield With a bond Okay, so save And get out of debt But I wouldn't wait until I'm out of debt to invest in the stock market Stock market annually and I get this so the last 75 to 80 years the stock market the s&p 500 has the stock market Has brought forth 7 to 10 percent gains annually Just by you putting money in the stock market Just putting it in the stock market and letting it sit by and holding. Okay, so Um Today we're going to talk about the brokerage the houses Because a person may say hey, I want to I want to invest but I don't know where to go Who the who to see who to talk to? Well, I'm going to help you. I'm going to give you eight discount brokerage houses. Now this isn't All this isn't the end all in the be all of the brokerage homes Okay But these are some that I've uh, I'm familiar with to some degree I don't have an account in every single one of these but I've done enough research to know that these are good Good places to start if you want to start trading or investing in the stock market. Okay all right Number one e-trade E-trade banking they deal with banking bill management shopping and taxes and of course stocks stocks and uh stocks and bonds Um really strong on mutual funds and retirement plans. So but e-trade Um, they've been around a while and they're they're reputable very good platform. Okay. All right good number two Number two. I probably should have started with this one because this is for the newbie. I I I actually refer A lot of new investors to this platform and it's robin hood Now robin hood, you know, they've gotten some flak They've gotten some flak about some things. There's no such thing as a perfect platform But one of the things that they started And to me, they've been disruptive as far as innovation in some areas and that is they eliminated the transaction fees And you know what that did It caused a lot of the oldie but goodies Uh brokerage discount brokerage firms To drop their fees as well to be competitive because they were leaving people were leaving those other firms and saying We're gonna go over here to robin hood where they're not charging us any money And what I mean by transaction fees when you buy and sell it used to be it was I mean at 1.20 dollars 15 Years ago like in the 80s, you know Where I was you know, I when I was flowing, you know, I'm I'm 56 years old. Okay, so 15 to 20 bucks you would be paying every time you made a trade Robinhood said we're going to do away with that come to us and we will We'll do away with all of that Now they make the money up in other ways, but I'm just saying that if you uh, They started something and now many of the brokers all there's not all of them Have totally eliminated Transaction fees, okay robin hood Very good for the beginner easy interactive They have even their their their mobile app. It's really easy to navigate and get around You can make a trade very quickly get out one of the other things I like about them As soon as you sell a stock when you sell There's a thing called settled cash And then many brokerages it'll take two days before you can use that money after you sold Robinhood makes that money available in your account to sell or to buy or sell And continue your trading and that's vital in many cases because sometimes you'll sell Knowing that you need more money to purchase another stock and you didn't have enough money So you sell this other one stock and then robin hood makes that a cash available to you right away And that's a great thing and many other brokerage discount brokerage firms needs to take that attitude as well Why settle cash taking two and three days? You know it it's it hinders you from actually trying for making wanting to make a transaction wanting to make a trade Okay, all right. So anyway enough of me Ranting the next one is we both we both is very similar to robin hood very new platform a lot of times they copy robin hood I'm just going to say it. I think they do Um, it's a very good platform a very good. If you don't like robin hood. We both is a very good um I would say Alternative okay, so check them out. We both they're we both W e b u l l dot com robin hood R o b i n hood Dot com. All right e trade et R a d e dot com. I'll list all these at one point in my uh in my uh the common section. So Uh, but just to keep you guys Uh, abreast these are very good platforms the next one is fidelity fidelity. I I have a majority of my stake is in fidelity That's my big account. I do have robin hood account I do have a weeble account my weeble account is for my son But fidelity is where I keep all my big bank all the the my major part It's more buy and hold at least for me now. There are people that still options on fidelity and um, but um I personally fidelity is my um my major account and I do a lot of buying and holding in that account Okay, it's my less risky account I I accumulate and hold and just let it build And uh, that's my account where you might have you know microsoft some amazon You know a little bit of facebook Uh Neo even neo. Yeah It's been up and down. All right fidelity a great platform good for mutual funds uh To assemble mutual funds Um They have a lot of great tools educational tools there and um Very good place if you need to research stops Um, it's good for the technical analyst and also fundamental I'll go over that in another video. Okay the difference between technical analysts and fundamental analysts. Okay I I prefer both Okay, first rate first rate first rate is another place where you can go and uh They've even actually won awards for their low cost their simple their simple interface the interface is very simple and um Extremely and their customer service is is awesome. I'll say that about fidelity as well. Okay, so first trade Swap charl swap Again, they've been around a long time Very experienced if you go there if you get an account there you're going to get a bunch of experienced people They're great at uh, they basically mirror fidelity in some ways and I would say they're similar to the fidelity Brokerage discount brokerage house. Okay. All right. Good scott trade scott trade I've been around for a little a minute a lot of people don't Know much about them. Um Again, uh low fees Um, they're very good and I've heard you've uh They've uh, they've gotten actual awards for their low cost Surveys they get great surveys. Um They're just a solid solid group. Okay, so that that is another alternative scott trade and last but not least is td ameritrade I also have an account with td ameritrade. They have a platform also called think or swim very good platform um Great tools especially for those that are more interested in day trading swing trading um They you know, they have a platform there for the candlesticks and trends and all of the different things that uh Technical analysts love. Okay, so But td ameritrade is a very good platform outstanding A lot of education If you want to learn they have a lot of good webinars and things like that And so I definitely definitely will refer them and along with fidelity I I refer all of them all of them are good. But here's the deal. You should go to each one And find out what's good for you now if you're brand new you're just starting out I would go with something like robin hood Weeble or there's another one I heard called public And I believe I got it right and uh a newer platform because it doesn't have a lot to overwhelm you When you're new you don't want to be you definitely don't want to be overwhelmed with all the Inundated with all this information and you can definitely be intimidated by their interface So you want something simple robin hood is definitely simple weeble Great great for the newbie, but it's the interface. I will not say it's simple and just navigating through that through that uh Uh through their um their website. Okay Um, I haven't checked out public yet. So I can't put a thing on them, but I would say that any of these places each trade, you know first trade Even scout trade all of these okay Uh, I would say that uh check them out and then choose and then Invest put your puts of money in there And start off just hey in many of these like robin hood if you get um If somebody refers you say somebody sends you a link from robin hood You can actually get a free a free stock And I believe that's case with weeble and many of others are starting to do that more work When you when you get an account they'll give you a free a free stock And you know, you can just put money in that that one stock Get a few more maybe five to ten and just let it sit and see what it does Give it a month or two And see what it does So once you get your discount brokerage and you've decided then you want to deposit money in many of these Many of these brokerage homes what they will allow you to do Is to sink your account your checking usually it's a checking account to your brokerage your discount brokerage account So that you can transfer money just like that Back and forth as you sell your stocks and say you want to you want to take you take some profits home You can transfer it back to the um You can transfer it back to your bank or transfer money from your bank into your brokerage account so that you can use it for trading Anyway, that's it for now. I want to thank you guys. I love you. Hang in there. Remember stay dedicated to financial literacy save save Do away with your expenses and clear your debt I'm out of here. Have a great day