What are the criteria to open an online share trading account?
Hi. May I ask what are the basic criteria to open an online share dealing account? Does it depend on how much money you have in your account? Your credit rating? Salary? I am new to this and would like to know more about it before I apply an online trading account. Thank you very much in advance.
Investing - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Your first few answers are regular spammers. Hope you ignored them. In the US you need proper identification and sufficient cash. That's about it. Credit Rating and salary are not relevant. Most brokerage applications require that you fill out a form about your investing experience and risk tolerance. Unless you state sufficient experience, you would not be approved for certain riskier activities like margin trading or options. That's to protect both you and the brokerage.
Answer 2 :
Generically, cash to invest & tax identification. That's for the basics: you have to be identifiable to government authorities (for reporting purposes) and you have to meet the minimum investment amount for the company in question. However, accounts are subject to limits & qualification. Depending on the investment and the country you live in, there may be income, experience, credit, and additional capital ("amount in the account") requirements.
Answer 3 :
It's all a matter of having a minimum balance. For Scottrade it's $500 with a $7 fee per tranaction, and with ING it's even lower (I forget how much) with a $4 fee per transaction. I hear ING has bad customer service, and is slow to process peoples transactions though, so I wouldn't recommend them. There are other companies like TD Ameritrade, Fidelity, and E-trade, which have higher transaction fees, but still relatively low. Lastly, there are many companies like Forex.com, Zecco, etc... which allow people with relatively low amounts of money to invest in the high speed currency trade (i.e forex) market. Note to the person below, account minimums protect the investor with a low amount money, because if the amount of money is too low, then one will lose more money in transactions fees, than gains from share values increasing. This was one of the complaints of ING (sharebuilder). There are many unhappy customers of ING, which had their accounts wiped out trading, from the trading fee, because their balance was too small, and the profits were less than trading fee.
Answer 4 :
Most of these posters are full of shit. Open an account with Sharebuilder. No account minimums. They just want basic info. DOB, SS, address and such. There is no credit check. They only ask for info because they do report capital gains to the IRS. A credit check would only be performed for margin trading because you are effectively borrowing shares from the brokerage. They will ask for your investment experience. Say you are an expert so you will not have any trading restrictions.
Answer 5 :
In UK, choose a provider (typically, a Bank or Building Society), visit web site, answer questions .. see example below ... NB other answers relate to gambling ('spread betting') or USA ...
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Friday, January 28, 2011
Friday, January 14, 2011
How can i set up a business bank account whilst 16?
How can i set up a business bank account whilst 16?
Hi, I am running a business with a friend and we need a bank account. We are both 16 and have tried at most high street banks but cant find a way to do it. There are businesses which are owned by 16 year olds which have business bank accounts. Can someone advise me on how to get one?
Small Business - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Get an parent to open it?
Answer 2 :
You can get your parents to open the account. You can incorporate and the corporation can open the account (which is expensive).
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Hi, I am running a business with a friend and we need a bank account. We are both 16 and have tried at most high street banks but cant find a way to do it. There are businesses which are owned by 16 year olds which have business bank accounts. Can someone advise me on how to get one?
Small Business - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Get an parent to open it?
Answer 2 :
You can get your parents to open the account. You can incorporate and the corporation can open the account (which is expensive).
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Friday, January 7, 2011
How do I pay for my Mail Plus account which is due to expire in a few days?
How do I pay for my Mail Plus account which is due to expire in a few days?
I have updated my credit card accounts , yet Yahoo is threatening to cancel my account a few days time. What is the email address to reach Yahoo Customer Carr?
Accounts & Passwords - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I went to CONTACT YAHOO CUSTOMER CARE, then clicked on LIVE CHAT, told them my problem and they switched me back 5 to10 min., no problem! Good Luck!
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I have updated my credit card accounts , yet Yahoo is threatening to cancel my account a few days time. What is the email address to reach Yahoo Customer Carr?
Accounts & Passwords - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I went to CONTACT YAHOO CUSTOMER CARE, then clicked on LIVE CHAT, told them my problem and they switched me back 5 to10 min., no problem! Good Luck!
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Saturday, January 1, 2011
What are the advantages of receiving a minor in Mathematics with a major in Business/Finance?
What are the advantages of receiving a minor in Mathematics with a major in Business/Finance?
I am currently a business student planning on majoring in accounting or finance and am also considering attempting to work towards a minor in mathematics. What are advantages to having a minor degree?
Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
lol, no benefit at all. Getting a minor in math is very easy, and you have to take very few classes, you never even get into anything advanced whatsoever. Minors are pretty much useless in general.
Answer 2 :
The advantage will be seen on your resume when you are job hunting. It sets you apart from the people who do not have a minor and also lets the interviewer know that you're good with math. This may or may not make a difference with respect to the position from which you applied. This can also be seen as a personal accomplishment. The courses to obtain a minor in mathematics are different from the business major. If you love math (statistics, calculus, etc), then go for it. However be aware that this may prolong your studies.
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I am currently a business student planning on majoring in accounting or finance and am also considering attempting to work towards a minor in mathematics. What are advantages to having a minor degree?
Higher Education (University +) - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
lol, no benefit at all. Getting a minor in math is very easy, and you have to take very few classes, you never even get into anything advanced whatsoever. Minors are pretty much useless in general.
Answer 2 :
The advantage will be seen on your resume when you are job hunting. It sets you apart from the people who do not have a minor and also lets the interviewer know that you're good with math. This may or may not make a difference with respect to the position from which you applied. This can also be seen as a personal accomplishment. The courses to obtain a minor in mathematics are different from the business major. If you love math (statistics, calculus, etc), then go for it. However be aware that this may prolong your studies.
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