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kingplaya4
Joined: 14 May 2006
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 Posted: Thu Apr 24, 2008 7:53 am Post subject: Online Investing |
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I have a good chunk of money just sitting in a checking account back home, and this is silly because it isn't even earning interest. I was looking into buying oil when the price was under 100 bucks, but didn't find any sites that didn't want a pint of blood to open an account, so I got lazy and did nothing.
Does anyone know a legitimate site I could open an account with just online or maybe phone verification? I don't want to mail or fax a bunch of documents, I'd prefer something simple if this is possible. Unfortunately, I missed the boat with oil and gold, so I'd probably be looking for some kind of growth mutual fund or maybe a high paying CD. Thanks in advance if anyone can share their experience. |
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bogey666
Joined: 17 Mar 2008
Location: Korea, the ass free zone
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| Posted: Thu Apr 24, 2008 10:58 am Post subject: Re: Online Investing |
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| kingplaya4 wrote: |
I have a good chunk of money just sitting in a checking account back home, and this is silly because it isn't even earning interest. I was looking into buying oil when the price was under 100 bucks, but didn't find any sites that didn't want a pint of blood to open an account, so I got lazy and did nothing.
Does anyone know a legitimate site I could open an account with just online or maybe phone verification? I don't want to mail or fax a bunch of documents, I'd prefer something simple if this is possible. Unfortunately, I missed the boat with oil and gold, so I'd probably be looking for some kind of growth mutual fund or maybe a high paying CD. Thanks in advance if anyone can share their experience. |
you can put money into an online savings account at home and get anywhere from 3-4%
you can open up an account with Fidelity, E-Trade, etc. and trade ETFs to speculate on things like dollar, gold, commodities, etc.
you can open up a trading account with any commidity brokerage firm and trade online.
no way around signing various forms, etc. perhaps you can fax them from Korea, etc. |
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kingplaya4
Joined: 14 May 2006
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| Posted: Tue Apr 29, 2008 10:39 am Post subject: |
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| Missed this reply before, I know there are lots of ways to invest, but I want a site that will be easy to put my money in and easy to take out, I don't like hassles. Which would you recommend? |
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bogey666
Joined: 17 Mar 2008
Location: Korea, the ass free zone
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| Posted: Tue Apr 29, 2008 11:59 am Post subject: |
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| kingplaya4 wrote: |
| Missed this reply before, I know there are lots of ways to invest, but I want a site that will be easy to put my money in and easy to take out, I don't like hassles. Which would you recommend? |
taking in and out HOW.. online? taking to and from where?
in a place like Fidelity (and I'm sure all the others) you can move money around however you want it, and if you don't want to be invested you can leave it in a cash account or a money market account. which will pay interest. |
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aalais
Joined: 26 Mar 2008
Location: Bundang
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| Posted: Tue Apr 29, 2008 1:25 pm Post subject: |
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If you're interested in saving for retirement, a traditional IRA through Fidelity is a great way to go -- their staff is courteous and very helpful (even if you're investing just a couple hundred dollars), and their index funds have a relatively low buy-in, I think $2,500?
Of course, an IRA is much less liquid than I think you're looking for. It sounds like you're mostly looking to "play the market," if you're talking about commodities investments. I've never personally used it, but I know some people that speak highly of E*TRADE. They're entirely web-based and cater largely to armchair investors, so they probably won't want much in the way of documentation and will try to keep the fees low, so that might be a good option to investigate.
At the very least, move your money from checking to savings. Good for you for declining to make your bank an interest-free loan. |
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Thunndarr
Joined: 30 Sep 2003
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| Posted: Tue Apr 29, 2008 2:43 pm Post subject: |
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| kingplaya4 wrote: |
| Missed this reply before, I know there are lots of ways to invest, but I want a site that will be easy to put my money in and easy to take out, I don't like hassles. Which would you recommend? |
You can invest in mutual funds through www.vanguard.com. It's fairly simple, all online, and it has very low expense ratios. If you're just looking for a place to park your money for a while and forget about it, this could be the place for you. |
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Temporary
Joined: 13 Jan 2008
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| Posted: Tue Apr 29, 2008 5:07 pm Post subject: |
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| Thunndarr wrote: |
| kingplaya4 wrote: |
| Missed this reply before, I know there are lots of ways to invest, but I want a site that will be easy to put my money in and easy to take out, I don't like hassles. Which would you recommend? |
You can invest in mutual funds through www.vanguard.com. It's fairly simple, all online, and it has very low expense ratios. If you're just looking for a place to park your money for a while and forget about it, this could be the place for you. |
Do I have to be an American? Can a canadian do it? |
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Thunndarr
Joined: 30 Sep 2003
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| Posted: Tue Apr 29, 2008 5:38 pm Post subject: |
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| Temporary wrote: |
| Thunndarr wrote: |
| kingplaya4 wrote: |
| Missed this reply before, I know there are lots of ways to invest, but I want a site that will be easy to put my money in and easy to take out, I don't like hassles. Which would you recommend? |
You can invest in mutual funds through www.vanguard.com. It's fairly simple, all online, and it has very low expense ratios. If you're just looking for a place to park your money for a while and forget about it, this could be the place for you. |
Do I have to be an American? Can a canadian do it? |
There is a section on the front page for non-U.S. investors.
Edit: You'll have to browse the site and check what the rules are regarding Canadian investors. Or just google it.
Edit2: Just googled it. Canadians can't invest directly through Vanguard. I'd still recommend you get a broad based index fund if you don't plan on actively managing your money. |
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waltjocketty
Joined: 09 Oct 2006
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| Posted: Tue Apr 29, 2008 10:30 pm Post subject: |
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I recommend Fidelity. However, if you're still thinking about putting your money into oil, I would say wait. Allow me to provide a link to an article published today regarding putting money into commodities: http://www.cnbc.com/id/24374104
PM me if you have more questions. |
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SirFink
Joined: 05 Mar 2006
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| Posted: Wed Apr 30, 2008 10:00 am Post subject: Re: Online Investing |
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| kingplaya4 wrote: |
| Does anyone know a legitimate site I could open an account with just online or maybe phone verification? |
Should we assume you're an American? The SEC has all sorts of laws and regulations when it comes to investing, so a simple e-mail verification ain't gonna cut it, I'm afraid. I'm not saying it's impossible to open a trading account from abroad, but there will be paperwork that needs to be signed, etc. And I recommend www.zecco.com |
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