Should I be a U.S. citizen to trade stocks here?
Do stock brokers require a minimum amount up front for new traders?
2006-12-01 15:36:53 · 4 answers · asked by Oguz Z 2 in Business & Finance ➔ Investing
Citizenship is not required to trade U.S stocks. The large and more traditional brokerage firms does require minimum balance to open an account. Fortunately, there are discount brokers such as Etrade, Ameritrade which does not require a lot of money to get started. See http://ibooyah.com to learn more about investing and ideas on which stocks to invest in. Good Luck.
2006-12-01 15:41:18 · answer #1 · answered by buklao 3 · 1⤊ 0⤋
A minimum payment is required to open an account which is called Initial Margin; you are allowed to trade amounts equivalent to a certain multiple of that amount, the rest being provided by the broking firm as financing for which they charge commission per trade. make sure you start with a small sum of money because the stock market can be an ugly place for beginners (take it from me, I am an analyst and hence in the job of ensuring that fools do part with their money) and yes do read up a lot from different Exchanges'websites. Many websites have segments called ïnvestor education which help beginners learn about stocks.
Cheers!
2006-12-01 23:47:23 · answer #2 · answered by Anonymous · 1⤊ 0⤋
You don't have to be a citizen, but you do need a Visa for identification, at least.
If you are looking to trade with 'full service' firm, there are min. deposit. You can also negotiate commission before you sign up. This only works with 'full service' and it depends on how much capital you have.
You can always sign up with 'discount service' firm. Your min. deposit is smaller, more affordable. You still can make orders through phone(charges more). You won't get same kind of services, but it wouldn't really matter unless you have a large account. Tax season may be the most pain. If you pay CPA to do your tax, then it wouldn't really matter. Otherwise, looking at those tax prep may get you frustrated.
2006-12-01 23:50:56 · answer #3 · answered by wat~ 3 · 0⤊ 1⤋
Hi, i suggest a great site with plenty of Issues related to your Investing and everything around it. it also provide clear and accurate answer to many common questions.
http://investing.sitesled.com/
I am sure that you can get your answers in this website.
Good Luck and Best Wishes!
2006-12-01 23:50:10 · answer #4 · answered by Anonymous · 0⤊ 1⤋