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How to buy Apple Stock?
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Mac Enthusiast
Join Date: Jul 2000
Location: Dubai, UAE
Status:
Offline
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I am American but live overseas. I am interested in the most cost effective way to buy some Apple stock. I gather I should set up an online brokerage account but having never done this, any tips or suggestions are appreciated.
I don't have anything like an existing 401k or IRA (those don't really work out when you're overseas). I just want to be able to use a credit card and/or direct bank transfer to purchase Apple (or others perhaps) stock and be able to buy/sell shares as needed.
Trades will be kept to a minimum - I am not trying to be a day trader here.
Thanks.
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Dedicated MacNNer
Join Date: Jun 2004
Status:
Offline
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Choose an online broker. I use Scottrade. Send them a check to open your account. They require $500 as a minimum to open. Once the account is established (your check clears the bank) you're good to go. You can trade online from anywhere in the world. Purchases are recorded 'instantly' from their live ticker. There is a slight delay, but hardly relevent unless you're a day trader. Day trading requires a 25K balance in your account. The difference is that you do not have to wait the required 3 days to 'settle'. You can reinvest immediately upon sale and sufficient funds. Good luck.
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Clinically Insane
Join Date: Oct 2000
Location: Los Angeles
Status:
Offline
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Apple is a terrific stock to start with because of its liquidity and level of volatility. You pick an online broker: I LOVE and highly recommend Fidelity. For the extra $1 in commissions per trade, you get a real online brokerage that actually cares about the product it provides and treats customers really well. I was with Scottrade in the beginning of my career - it's not a terrible brokerage, but you'll thank me if you go with Fidelity instead.
Also, if you're going to be trading rather than investing, you'll want to take a look at tax strategies. It's very advantageous tax wise to form a company if you're a trader. Read more at GREEN TRADER TAX.
(Last edited by Big Mac; Apr 3, 2007 at 10:13 AM.
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"The natural progress of things is for liberty to yield and government to gain ground." TJ
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Mac Enthusiast
Join Date: Jul 2000
Location: Dubai, UAE
Status:
Offline
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I do have a company (for my regular business) but I know ther eare lots of special tax situations for US citizens overseas... where I live in Dubai there are no local taxes so that part is easy.
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Clinically Insane
Join Date: Oct 2000
Location: Los Angeles
Status:
Offline
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Ah, didn't notice the location. I don't know what brokerages serve Dubai, but there must be a number of them.
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"The natural progress of things is for liberty to yield and government to gain ground." TJ
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