Aug 18: Online Share Stock Trading Websites to Avoid

by David Jenyns on August 18, 2006

There are some great online share stock trading tutorials online. However there are also some unscrupulous scam artists that want to get their hands on your money before you can put it in the stock market.

Websites that offer a “proven system” are the kind to stay away from. If the guy selling that proven system had used it, he wouldn’t need to sell it. He’d be too busy counting his bon bons.

On the other hand, websites that attempt to teach you an honest aspect of online share stock trading are much more subtle. They don’t promise that “their system” is the only one that works. I just found another one wanting to sell me “secrets.” Listen, if any of the online share stock trading websites start talking about giving up secrets, be sure that in the next sentence they will be asking for money.

A rule of thumb: The first time you see the word “amazing” used in a sales pitch, run! The reputable online share stock trading websites want to teach you more than anything else. MSN will make more money just by giving us the free “real” information than ten scam artists will make selling us bogus information.

The SEC (Securities and Exchange Commission) has guidelines on their website to check out online brokers and investment advisors before you let go of any of your hard earned money. The Brick and Mortar companies that we’re all familiar with that have also built an online presence are easy to trust because we’ve known of them for years. That doesn’t mean that every broker or investment advisor has the same clout.

There’s not a list of so-called stock scam artists to avoid, however it is the overall impression that you must weigh. Anyone claiming to have any kind of secret is to be avoided. These scamsters imply that the rest of us are stupid and if you only buy their “secret” you will have it made and live happily ever after.

The websites to gravitate toward will not put down everyone else’s system and insist theirs is the only one that works. The real online share stock trading advisors will advise you to check them and everyone else out. An honest and open brokerage firm or investment advisor will invite you to ask questions during the whole process.

In order to get the best online share stock trading advice, take your time and realize that if it sounds too good to be true it probably is.

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