I recall a few years ago that I had to fill out beacoup info before learning that there were limited ways to pay and I'm not sure if actually using a credit card was an option to fund the account. Thanks for your help.
2007-01-06 12:35:55 · 5 answers · asked by foodguy4 1 in Business & Finance ➔ Investing
Of course it depends on the terms of the specific account you're interested in... but in general, yes, you can purchase stocks using a cc.
I don't recommend it...but it can be done.
2007-01-06 14:10:51 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Sounds like you're desperate to make money. Desperate enough risk incuring sizable debt. If you don't know enough about the market and how the average Joe makes it, you need to understand that the brokers are in the business of taking Joe's money. There are other brokers and better deals for people who know the industry.
It's a lot like gambling in a casino (never done it): the house has the advantage. The house makes it look like you're making wagers against the other players or betting the odds, but the successful ones took a lifetime to learn how to beat the house.
You have to learn everything without actually placing your money on the table. Otherwise, the dealer err broker will just take your cash and laugh you out the door.
2007-01-07 22:56:45 · answer #2 · answered by Lobster Dinosaur 3 · 0⤊ 0⤋
I agree with James. Every one that I have seen requires a wire transfer or through a check. I am in scottrade right now. If you dont have a credit card, a check is easier. With Scottrade you can also put funds directly from your bank account to your scottrade account.
2007-01-06 23:20:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
i do not know of any brokerage firm that will allow that and i have traded through ameritrade, scottrade, etrade, and schwab..for their own reasons, they demand that an account be funded through either electronic transfer, personal check, or cashiers' check...
you can try drawing down on the cash limit of your credit card by way of one of their checks, deposit it, and then draw out of your account...a round about way but it would work just fine
any way you look at it, it's a hassel
2007-01-06 22:33:19 · answer #4 · answered by james lecroix 1 · 1⤊ 0⤋
I don't believe you can do it... but if you can..... you'd be considered by most investors to be "nuts".
You just failed one the most important indicators of good money management. Don't do this.
2007-01-06 23:19:53 · answer #5 · answered by Common Sense 7 · 1⤊ 0⤋