TORONTO, ONTARIO--(Marketwire - May 25, 2012) - More than
one-third of Canadians either currently use an online
brokerage or are considering it, according to a survey by
BMO InvestorLine. However, as widespread and convenient as
online investing has become, a few myths still persist.
"Despite the increasing popularity of online
investing, a few misconceptions about the platform
remain," said Cesar Rainusso, Vice President, BMO
InvestorLine. "Investing online is a convenient,
efficient and resourceful option for Canadian investors,
regardless of your level of investment knowledge."
The Top Four Myths Surrounding Online Investing
Myth #1: Online investing is only for day traders
Online investing is appropriate for all types of investors,
not just active traders who make several trades a day. BMO
InvestorLine offers several different types of accounts
that address the specific requirements of individual
investors (e.g. short term or long term) and has the tools
and services to suit every type of investment need.
Myth #2: Online brokerages do not offer enough guidance and
support
Online investors have access to an overwhelming variety of
support in the form of educational materials, investor
research and the latest innovative tools and resources. BMO
InvestorLine's online tools are geared towards
investors of all levels, making investing and planning
straightforward and informative.
Myth #3: You should not mix online and full-service
investing
Using an online investing platform while also seeking the
services of a financial professional provides investors
with the best of both worlds. According to Mr. Rainusso,
each service complements the other: investors get direction
and insight from an advisor and also have the flexibility
to manage a portion of their investments and the freedom to
use their knowledge.
Myth #4: Online investing is hard to access
Online investing is convenient and completely accessible
regardless of time of day or location. In fact, BMO
InvestorLine account holders can access their account from
anywhere in the world through a secure connection.
Thinking of adopting online investing? BMO InvestorLine
offers some insights on how to get started:
Ask for help: Most online investing platforms have 24 hour
assistance on hand. Be sure to access the service with any
questions you may have.
Take advantage of tools: BMO InvestorLine offers online
demonstrations, tutorials and webcasts that provide
step-by-step guidance into the world of online investing.
Do your research: Once you settle in, be sure to take
advantage of the innovative research tools that online
brokerages offer. BMO InvestorLine's bi-weekly
eCurriculum emails keep you educated on various investing
topics. It also offers three sources of research to clients
including Ford Equity Research, Morningstar Equity Research
& Pick Lists and Morningstar Credit Research.
For more information on investing online, please visit www.bmoinvestorline.com.
Get the latest BMO press releases via Twitter by following
@BMOmedia.
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