i know absolutely nothing about the stock market, but i would like to buy a few shares of some companies and see what happens, i don't want to spend a huge amount of money and i really don't want to get involved with a stock broker.
so can i buy and sell shares without a stock broker?
2007-07-04 22:53:01 · 8 answers · asked by me 3 in Business & Finance ➔ Investing
If you know someone who owns some shares and wants to sell them to you, they can sell their shares to you. But why bother? You can open an account at scottrade and they only charge $7 for any size transaction.
2007-07-05 00:44:56 · answer #1 · answered by Thinker 7 · 0⤊ 0⤋
As others have mentioned, you don't need a stock broker to buy or sell shares. You can open a brokerage account on-line with many brokerage companies and do the trading at the comfort of your own home or office. In addition, many companies offer direct shares buying program. The other low cost option is through Share Builder. You can visit their web site at
http://www.sharebuilder.com/
Good Luck on Your Investments!
2007-07-04 23:14:52 · answer #2 · answered by Bryan 5 · 1⤊ 0⤋
I don't know why "S" is answering. He is not familiar with the process. He says, "Even on these "direct buy" plans someone else is acting as your broker. In the case of the GE site, it just takes you to a Mellon Bank site. All though it appears to be very simple, Mellon is still acting as a Broker." A broker brings buyers and sellers together. A direct buy program does not use a broker. That's what "direct" means. When stock is bought, the ownership needs to be registered so that the company will know where to send dividends and reports. Mellon is the Registrar for GE stock. They are not acting as a broker.
2016-05-18 21:34:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Normally, Yes. There are two types of brokers:
Full service brokers --- render advice and also buy and sell stocks on behalf of clients.
Discount brokers (on line brokers) --- no advice- facilitate buying and selling for clients through trading platforms.
You can open an on line investing/ trading account without even putting money.
2007-07-05 02:39:20 · answer #4 · answered by AussieTrader 1 · 0⤊ 0⤋
Dividend Reinvestment Plans (DRIP's)
are available for many of the largest companies in the world. Examples would be: GE Johnson & Johnson, Proctor Gamble, etc.
Check out: http://www.dripwizard.com/home_dripsearch.asp
No broker. Little or no fees. Invest by dollar amount (rather than buying amounts of shares). ie., Purchase and sell fractional shares.
Also check out;
http://www.dripinvestor.com/index.asp
You don't need a "service" to do this. I'm just giving you some links to start your education.
2007-07-05 00:11:53 · answer #5 · answered by Common Sense 7 · 1⤊ 0⤋
Some companies have Direct Purchase Plans (DPP) where you can buy directly from the company without a broker. DRIPS require you to already own the stock.
2007-07-05 00:46:20 · answer #6 · answered by jeff410 7 · 1⤊ 0⤋
Yes, you can trade in shares without a stock broker by using online trading terminals from your home .
2007-07-04 23:03:45 · answer #7 · answered by Swapan G 4 · 0⤊ 1⤋
no, i do not need a stock broker to buy shares. you can go to one of the many onlines trading company to buy and sell stocks.
here are few of them.
www.etrade.com/
www.ameritrade.com
and go to yahoo finance ,they have few trade company ADVERTISEMENT
on its web page
2007-07-04 23:00:23 · answer #8 · answered by lehanrony 3 · 1⤊ 0⤋