is it possible for minors outside the U.S to participate in an investment online company like E*TRADE?
if yes, whatis the minimum amount of money should he have?
is it possible to send the money you want to invest by mail?
any suggestions for investing online in REAL companies(NOT FRAUD!)??
maximum 200 $ to invest
possible?
please answer
2007-03-05 02:04:36 · 4 answers · asked by Anonymous in Business & Finance ➔ Investing
$200 is not a lot of money to begin investing with. Just the cost of commissions is likely to eat up most of your money. At your age with that kind of money, you're probably better off sticking the money into a high yielding savings account like ING Direct ( http://www.ingdirect.com ), or possibly a certificate of deposit, but if you think you might need the money sooner rather than later, CDs can have very high penalties for early withdrawals whereas a savings account won't.
2007-03-05 02:13:45 · answer #1 · answered by G A 5 · 0⤊ 0⤋
You can if you have a parent set up an account with their name AND yours. It can be a joint account with your parents social security number being used.
The average minimum amount needed to start up one of these online accounts is $500. "Scott trade" is a wonderful sight with a tutorial page as well so you can search companies and learn as you go. I got my son started in this a while back.
: ) Good Luck !
2007-03-05 10:30:00 · answer #2 · answered by Kitty 6 · 0⤊ 0⤋
You need to be 18. Have someone else invest in their name, someone you trust. The accounts can be set up "In Trust" for you meaning when you are 18 they are yours 100%. Stocks were purchased in my parents name for me since I was born, and at age 18 they were transferred over to me.
2007-03-05 10:10:29 · answer #3 · answered by wwhrd 7 · 0⤊ 0⤋
you have to be a legal adult to invest or your parents have to do it for you.
2007-03-05 22:28:19 · answer #4 · answered by math geek 1 · 0⤊ 0⤋