Buying AAPL... help!

[johnbro23]

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?

 

[johnbro23]

Doesn't anyone know? 🙁

 

[Sun Baked]

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.

 

[phgreer]

I use buyandhold.com for my stock investments.

 

[johnbro23]

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.

Thanks for the reply.

Can I get one of those online? Would Ameritrade do it?

 

[Phatpat]

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.

 

[kwajaln]

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.

 

[Sun Baked]

Thanks for the reply.

Can I get one of those online? Would Ameritrade do it?

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...

or

 

[johnbro23]

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.

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!

 

[relimw]

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!

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.

 

[AdultSwim]

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

 

[johnbro23]

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

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?

 

[BLINK]

I bought 10 shares about 2 years ago at 21.70 and now its around 79 a share!