On-line trading is revolutionizing the way people invest their money. This year, living room investors will make one in three trades without the help of a broker. An Oklahoma investment company is now offering a new on-line trading service with a hometown feel.
Barbara Bird met with a group of friends for a power lunch in downtown Tulsa. She wanted to talk to them about a new investment avenue that runs right into their homes through the Internet. Its called okstocks.com. The concept is not new, nor is the face behind it. Behind the on-line trading service is a familiar Tulsa investment firm with two decades of experience. Houchin Adamson is hoping flat-fee trading and a zero-down new account policy will bring in the volume of business the firm needs to make the service profitable.
Once the site fully launches by December, okstocks.com will provide a more hometown feel than Internet giants such as Ameritrade or E-trade. "We're going to look at local stocks of interest and give some thoughts on them and where they're going," said okstocks.comâ€™s Cameron Turner.
The up and down world of high-stakes trading can be intimidating. Carol Wallace would rather dip her toe in the water before jumping into investing in the markets headfirst. "When you're putting your money in those accounts and you click one time and it's gone, that's intimidating to me," said Wallace. Every buy and sell through okstocks.com costs one, flat fee -- $19.95.
okstocks.com plans more seminars to bring in additional clients. "Basically, I think it's the wave of the future and what we'll all be doing sooner or later," said Wallace. okstocks.com officially launches around Thanksgiving.