2007-08-20 12:43:00 · 5 answers · asked by Daniel 2 in Business & Finance ➔ Investing
Fine, buy your own seat on the NYSE, fly to NY, go down on the floor and buy your shares. Oops, the NYSE doesn't allow anyone other than specialists to trade for their own account.
2007-08-20 12:52:44 · answer #1 · answered by Oh Boy! 5 · 1⤊ 0⤋
You have to start an investment bank (which requires millions of dollar), get your series 6,7 and many, many other NASD licenses, hire a staff of lawyers, acountants, and other people who understand all the laws, regulatins, and taxs of being a broker.
I think its cheaper to pay $7 a trade at scottrade! And thats really cheap. If you are investing short term trades, save your money and invest at least $2000 a stock, otherwise you have to make a good percentage on your investment just to pay the commission fees!
2007-08-20 21:04:05 · answer #2 · answered by stockmarketwiz21 2 · 0⤊ 0⤋
There are a few situations where you can buy direct, but you have the problem selling, as in sell to who? Check out scottrade.com or sharebuilder.com. Buying is cheap, and quicker than finding someone on your own to sell you some shares of whatever. Convenience comes at a price, $7 or $4 respectively for most things. Or you can buy from mutual funds, loads of no-load funds with little cost. Still, nothing is for free. Your time will cost you lots if you do it yourself, because there are fewer choices, and harder to find.
2007-08-20 19:57:15 · answer #3 · answered by Rabbit 7 · 1⤊ 0⤋
You don't have to pay any broker fees.
Some public companies sell their stocks directly.
Contact their Investor Relations Department.
2007-08-20 19:59:28 · answer #4 · answered by Anonymous · 1⤊ 1⤋
You can on Etrade
2007-08-20 19:50:04 · answer #5 · answered by useurbrain 3 · 0⤊ 1⤋