I'd really like to purchase single shares of various stocks for my kids. As they save their allowance, I'd like them to be able to buy more stock.
What is the best way of doing this. If I go through my brokerage service, they would charge me a min of $19 in service fees, which doesn't make a lot of sense when I just want to buy one share.
Thank you
2007-01-05 19:33:58 · 7 answers · asked by Gerry 1 in Business & Finance ➔ Personal Finance
There are many companies you can buy direct from. The all have various fees, some wave most of them and only charge when you sell them. This way you avoid the broker's fees.
https://gateway.equiserve.com/igwweb/content/secure/InvestmentPlans/index_plans_new.asp?PlnPage=PlanSearch&PurchOption=NSNewEnrl
Here is one such place to purchase them from. You need to research each companies rules. Some require a minimum of $250 to $1000 for the first purchase, some will let you purchase $50 a month if you sign up for a year.
There are other sites that provide the same service for other companies.
2007-01-06 09:39:02 · answer #1 · answered by hogie0101 4 · 0⤊ 0⤋
I think you can buy a single share of stock through the company itself, not sure though.
I know I invest through Fidelity, but like you were saying its a $10.95 commision.
Good deal teaching your kids young to invest.
Somehow I started out young(19, now 23), and hopefully it'll pay off when I retire!
2007-01-05 19:37:33 · answer #2 · answered by blackedge02 2 · 0⤊ 0⤋
Sounds pointless to buy only one share....it's a better investment for you to just open a saving account for them...then later turn that into a CD and then later go to buying a couple of shares...
Buying one share is really just you loosing money...ask any finaicnaial advisor. Heck, I worked in the most elite financial firms in the world (the generally accept clients that are the world's wealthiest and they turn down alot of people because their net worth is not great enough)....no way would they ever tell anyone to purchase one share....
2007-01-05 19:38:55 · answer #3 · answered by mailjunkie123 3 · 0⤊ 1⤋
There are few companies that arrange you to buy a single share.
Like www.oneshare.com , but I don't know if they are still in business.
It should be noted that the service fee to buy a share or 100 shares is relatively the same.
It also cost extra to print a certificate.
2007-01-05 19:53:10 · answer #4 · answered by E A C 6 · 0⤊ 0⤋
You can open a scottrade account. They only charge 7 dollars a trade.
2007-01-06 06:37:56 · answer #5 · answered by Big R 6 · 0⤊ 0⤋
Your right, it really does not make since.
You can look at http://www.sharebuilder.com/, the cost is just $4.00 for one trade on one of there plans.
2007-01-06 02:26:48 · answer #6 · answered by Grandpa Shark 7 · 0⤊ 0⤋
SogoInvest charges only $3.00 USD.
2007-01-06 01:37:42 · answer #7 · answered by Anonymous · 0⤊ 1⤋