Serpent Stock is for people who want to grow their portfolio in a self managed investment account and would benefit from guidance on stocks, Exchange Traded Funds (ETFs), and the market in general.
Members of our community are motivated in taking a hands-on approach with their investments. Our members come from all walks of life with experience varying from just starting out to investors with years of practice.
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What do you need to get started?
You should be mindful of trading commissions though as they will have an effect on the relative cost to trade. For example, if you start with $1,000 and the commission to buy the stock is $10 then that’s 1% of your invested value, plus another $10 to sell.
If you’re investing $10,000 with a $10 commission obviously the relative cost is now only 0.1%. That's why it's important to be aware of trading commissions charged by the self-directed platform or your broker.
There are pros and cons to each however the fastest growing method by far is self-managed accounts. Different online self-directed accounts charge different fees based on account balances, account types, and number of trades in a quarter.
Do some research on which method best suits your needs.