Buying AAPL... help!

Discussion in 'Buying Tips, Advice and Discussion (archive)' started by johnbro23, Feb 1, 2005.

  1. johnbro23 macrumors 6502a

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    Apr 12, 2004
    Location:
    Pittsburgh, PA
    #1
    I'm planning on buying $2000 worth of AAPL tomorow. :)

    But I'm trying to do it in the cheapest way possible. I'm leaning towards Ameritrade. Do they charge anything more than the $10.99? I'm planning on letting it grow for 4 years or so, so I don't want to be charged maintenance fees. So could someone help me out?
     
  2. johnbro23 thread starter macrumors 6502a

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    Apr 12, 2004
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    Pittsburgh, PA
  3. Sun Baked macrumors G5

    Sun Baked

    Joined:
    May 19, 2002
    #3
    Then you aren't looking for just the cheapest trade, you are looking for the least expensive conversion to certificate.

    This would get you out of any quarterly fees in the stock should fall in value and take your account below the minimum value.

    A $40 cert is definitely a lot less than getting whacked with $10-15 every quarter.
     
  4. phgreer macrumors regular

    phgreer

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    Jul 18, 2002
    Location:
    Greenville, SC
    #4
    I use buyandhold.com for my stock investments.
     
  5. johnbro23 thread starter macrumors 6502a

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    Apr 12, 2004
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    #5
    Thanks for the reply.

    Can I get one of those online? Would Ameritrade do it?
     
  6. Phatpat macrumors 6502a

    Phatpat

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    Jun 15, 2003
    Location:
    Washington DC
    #6
    Scottrade is 7$ commission and no maintenence fees. Check it out, tell us what you got with. I bought $1000 worth of AAPL 5 days before Macworld, I'm happy with it.
     
  7. kwajaln macrumors 6502

    kwajaln

    Joined:
    Sep 18, 2004
    Location:
    CHICAGO!
    #7
    I use a Choice account with Morgan Stanley. For a lot of trading it is awesome - unlimited trades with zero commissions. (For a yearly fee) I picked up 35 shares of AAPL about a week ago at $72 a share and it closed at $77.53 today. I expect to hold onto it for a while, too.
     
  8. Sun Baked macrumors G5

    Sun Baked

    Joined:
    May 19, 2002
    #8
    I just looked at the Ameritrade fee chart...

    http://www.ameritrade.com/ratesfees.html

    But most everyone will send you a cert if you pay for it, or don't want to hold the stock in their name.

    As Phatpat, there are others out there if you don't want to see a paper certificate.

    The only thing a paper certificate is good for, is to get you out of the impulse sale.

    Since it takes a little bit more time to sell the paper, than it does when it is held in an account.

    Edit: Plus some people actually like to see the stock certificate, some even frame the cert and hang em on a wall...

    [​IMG] or [​IMG]
     
  9. johnbro23 thread starter macrumors 6502a

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    Apr 12, 2004
    Location:
    Pittsburgh, PA
    #9
    So all I would pay is $7?

    I went to scottrade.com, clicked on Apply now. What do I check for the ownership section?

    Also, do you think they'll let me just use a Visa?

    Thanks a lot, without you guys I'd be lost. I'd probably get frustrated and pay way more with a broker. Thanks for your help!
     
  10. relimw macrumors 6502a

    Joined:
    May 6, 2004
    Location:
    SC
    #10
    Most brokers that I've ever had to deal with won't let you use a credit card. They prefer drafting out of a bank or investment account (that way they know you have the money, and aren't trying to make a fast buck at their expense).
    After all, if you say buy 100 shares of Apple Comp. and then you don't have the money, they're stuck with 100 shares that could tank on them.
     
  11. AdultSwim macrumors newbie

    Joined:
    Sep 27, 2004
    #11
    You can't use your credit card because its illegal to buy stock wth more than a little credit. This protection was put in after then famous crash of 1929 where so many people were borrowing money and using it to invest in the stock market.

    Please post what you end up doing
     
  12. johnbro23 thread starter macrumors 6502a

    Joined:
    Apr 12, 2004
    Location:
    Pittsburgh, PA
    #12
    I'm planning on going to scottrade and signing up for an account.

    On https://www.scottrade.com/apply.asp, do I check the "individual" option under the "ownership" section? And do I check anything in the bottom part of the "ownership" section?
     
  13. BLINK macrumors member

    Joined:
    Jul 21, 2004
    #13
    I bought 10 shares about 2 years ago at 21.70 and now its around 79 a share!
     

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