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REALLY dumb question

Discussion in 'Money & Finance Forum' started by Big Mark, Sep 29, 2008.

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  1. Sep 29, 2008 at 10:40 PM #1
    Big Mark

    Big Mark Full Access Member

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    How do I buy stock? I mean, I've got a 401k and a money market account, but if I wanted to take a gamble and buy, say $1000 of Wachovia or something similar just to take a chance, how would I do that? Can I sign up somewhere online and give them my credit card number to open an account?
     
  2. Sep 29, 2008 at 10:50 PM #2
    Science

    Science Puerto Rican of the Sea

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    I don't know about credit cards, but any site will facilitate a money transfer from a checking account.

    FYI, Bofa's online investment site is here.
     
  3. Sep 30, 2008 at 8:30 AM #3
    jazzbluescat

    jazzbluescat superstar...yo.

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    I think the only way you can buy stock is to go through a stock broker.
     
  4. Sep 30, 2008 at 8:33 AM #4
    VA49er

    VA49er Full Access Member

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    E*Trade?

    I don't buy individual stocks so I'm not up on the ins and outs of commissions, etc.
     
  5. Sep 30, 2008 at 8:55 AM #5
    chipshotx

    chipshotx Full Access Member

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    Open an investment account through your bank or any of the online trading accounts.
     
  6. Sep 30, 2008 at 10:20 AM #6
    jazzbluescat

    jazzbluescat superstar...yo.

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    If that works the same way as buying CDs through the bank, you're better off going through a broker, e.g. Merrill Lynch, because the banks don't pay nearly as well. I canceled a (good sized) CD before it matured, during the penalty time, with a bank and went with a brokerage, made more money even after paying the penalty, than if I'd stuck with the bank.

    Some banks may be better than others for investing purpose, I don't know.
     
  7. Sep 30, 2008 at 10:21 AM #7
    chipshotx

    chipshotx Full Access Member

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    He asked about buying stock, not CDs.

    You buy a CD from whoever offers the best rate. You buy stock through whoever is most convenient for you.
     
    Last edited: Sep 30, 2008
  8. Sep 30, 2008 at 11:26 AM #8
    FAN01

    FAN01 Full Access Member

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  9. Sep 30, 2008 at 11:40 AM #9
    jazzbluescat

    jazzbluescat superstar...yo.

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    I could've sworn the bank offered mutual funds too; or, maybe I'm thinking CDs are like mutual funds except handled by banks.
    My experience was 10+ years ago, things probably changed.
     
  10. Sep 30, 2008 at 11:49 AM #10
    Shrapnel

    Shrapnel Stinky

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    :whoosh:
     
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