Hello
Im new to the stock world and I wanted to spend approx K in several blue chip companies as I am interested in the long run. I was going to purchase these stocks through Questrade (approx per trade). Now my question is, what happens to my intial stocks when down the road I choose to open a "bank run" stock account (currently too expensive) in say 5-10 years, how do I transfer my stocks? Is there any problems with this or would my future broker handle this for me?
Additional Information - Can I withdraw all my money from my stock investments? Say I buy stock online through TD Ameritrade, Sharebuilder, or what have you, not their IRA accounts, just their standard ones for stocks. Let's say I invest 0 in Apple stock, and in 6 months, it grows to 0 (just to keep things simple). At that 6 months, can I......
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4 Comments on “Buying stocks from Online sites for long-term investments?”
walt17jr 9th March 2010
Most brokers will do an account transfer for you. Simply talk to the investment people at the bank (or broker) you want to use and they will take care of it.
However, that may be expensive as some brokers charge a fee for account transfers. If Questrade does, you may be better off to just sell your stocks, take the cash out and use it to open a new account elsewhere.
Be sure and look at all the fine print on your bank’s brokerage service. There may be features which make it less attractive unless you make some minimum amount of trades.
alexander 9th March 2010
i will advice that you make sure to contact your broker before buying any shares
Randy 9th March 2010
Ive used both questrade and Scottrade and Scottrade defantly wins. The stock trade prices are the same, but the amentities of ST is way better than QT. You get a free Virus scan, an excellent knowledge center, live streaming quotes, everything you need. They also offer free trades. This is what you need to do:
Open a Scottrade.com account and when signing up plug in the code
****** QDOB2020 ****** and you will get 3 free trades.
Best of luck to you!
Don 9th March 2010
look for stock market to crash
this depression is just beginning
stay with cash in pocket! t-bills! 10 yr bonds