Originally Posted by lacrossewacker
absolutely. In my particular case, I think I'm confidently willing to risk a grand.
are there any other fees or penalties I should be aware of, say 5-10 years down the road if I go to sell the stock?
Also, my E-Trade account options are "Margin Account," "Margin Account with Options," "Cash Account Only"
Would you recommend a Cash Account Only for somebody like me with a pretty "hands-off" approach?
Yes, Cash account. Options are a very complicated thing, and come with their own risks, and a margin account is you playing with "borrowed" money... You can almost always upgrade later (I use scottrade so the wording on the accounts are a little different but if I am reading those names correctly... cash only is fine).
No fees or penalties from them. However when you sell you MUST claim the profit(loss) on your taxes for the year in which you sell. Buying doesn't matter and you don't have to tell them anything. This includes dividends (if you say buy Intel...) and also must be reported in your taxes each year. From the website itself? None, except the 7$ a trade or whatever it is... again... unless you buy a stock that meets a very specific criteria (IE, less than a certain value, buying stock in a foreign company, listed on the OTC market) these usually incur an extra fee, but will be made known to you at the time of purchase/sale.