However, you cannot receive data any faster than it is being sent, and, some telephone lines are unable to transmit data reliably at very high rates. The faster the transmission rate, the faster you can send and receive data. The fastest modems run at 57,600 bits per second. The modem is a device or program that enables a computer to transmit data over telephone lines. The more memory and processing power you buy, the less time you'll have to wait to do calculations or pull up data that you want in a hurry. The computer you buy should have as much grunt as you can afford. The majority are designed for computers running Microsoft Windows, but you can buy a limited number of investment software programs designed for Macs. If you intend to do your own portfolio management and charting, you can purchase this software from the distributors. You access the broker's internet site using a browser like Internet Explorer or Netscape which may come with your computer or be provided by the ISP. Portfolio management refers to those tools which list your shareholding details and provide an up-to-the-minute valuation of the share portfolio. If you intend to rely totally on the portfolio management services of an internet broker, it will not matter which type of computer brand you use.

The two main computer types are PC and Macintosh. Investors wanting to trade online will require a computer, modem, telephone line, account with an internet service provider and an account with an online broker. The growth in the number of investment tools available to ordinary investors at reasonable cost means that share trading can become as common an experience as opening a bank account or investing in a term deposit.

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