syong,

In USA, there is NO CONCEPT as a "lot". You can buy as little as ONE share of any stock.

So, one share of BAC = one unit = $13.

But, depending on the commission, you do not want to only one share. If the commission is $5, buying one share of BAC at $13 cost you $18.

Dreamer

i thought min purchase for US shares is 100 units?

yes, u r right. wont buy for 1 unit, even if i bought 100 units, the commission for buying and selling os quite substantial.

syong,

So, unless you have USD $5K to USD $10K to start, do not even think about trading in US stock. You will get killed by the commission.

If you do not have that kind of money, DO NOT TRADE. Invest on VTI and VEU.

Dreamer

sorry, able to explain diff between these 2?

further, how n where to buy vti / veu? min purchase?

Hi

Just want to ask...was about to transfer money from maybank2u to optionsxpress and noticed that the absolute limit for overseas transfer is RM50,000.

what happens if you breached the RM50,000 limit? Does maybank disallow the transfer? can you go to another bank and transfer from there?

would you get a query from maybank? how do you circumvent this?

thanks for the reply.

syong,

VTI is the 2000 largest stock in USA.

VEU is the 2000 largest stocks outside of USA.

They are ETF. So, you buy them like any other stocks except they each represent 2000 stocks.

The minimum purchase is one share. But, to save commission, you should at least buy USD 1K worth of them.

When you buy VTI and VEU, you had covered the whole world.

Dreamer

I'll disagree that you'll need so much money to invest in US stocks. If you TT money (e.g. USD1000), you'll pay around USD25 for commission.

Example : If you buy 70 shares of BAC @ USD13.00, which cost USD910, you can earn a little when the share is USD14.00, which will cost USD980 at that price (assuming the commission is ~USD10)

may i know, what is the stock code for BAC?

BAC

---

Added on June 22, 2009, 4:20 pmDreamer....Are these two under Vanguard?

This post has been edited by VyvernS: Jun 22 2009, 04:20 PM

jex-koi,

Do you know how to do simple math?? If the commission is $10,

A) When you buy 70 BAC @ 13 = $910, it cost $910 + $10 = $920.

B) When you sold 70 BAC @ 14 = $980, you get $980 - $10 = $970.

So, your net profit is ONLY $70 - $10 -$ 10 = $50.

Yes.

Dreamer

syong,

Ha! One share is EQUAL to ONE UNIT, not 1000!
It is only $13, perhaps less this week due to bearish week and you can buy ANY number.. no minimum quantity to buy.

But, it will not make sense to trade one share (unless it is Berkshire ) 'coz the fees is going to be more than that.

Like what Dreamer has suggested, you may want to look to ETF covering the financial sector so that you can buy a list of banks instead of one bank.

Example: XLF has 6% in BAC coverage.

okie okie, understand now....

list of bank? ya all sld recover soon, except for citi

syong,

Have you have been monitoring BAC these few days since the market has pulled back with DJ almost dropping below the 8200 support level?

It seems BAC support has been great and lowest is at $12.

Therefore, better BUY some now before it rockets to $20 or higher.

Stay away from Citi for now.. BAC is a great buy now.

Which ISP or Broadband provider are you guys using to buy US stocks???

I couldn’t access to most of the US websites last night, so didn’t even mention about trading! My goodness!!! It wasn’t a question of speed, the company’s Homepage never appeared!

Which ISP provides better accessibility to US websites and more reliable? Digi Broadband? P1? Streamyx? Which package?

Currently, I am using Streamyx 512k. Often, I cannot access to US websites even in the morning during office working hour, i.e. 9am-5pm. very disappointing.

thanks.

do u guys try etrade?....
i feel convenient and cheap....

Adrian,

Could you access Etrade last night?

Which Internet Service are you using? which package?

thks

can ar....im using streamyx 1mb lo....

No problem with etrade, scottrade, ameritrade or mbtrading (as recommended by normante), most of time I use VPN too (with US IPs).

P1 1.2mbps plan is sufficient for US broker trading...

Danmooncake,

Do we seriously need to implement VPN in order to trade online and interactively with US brokers?? I thought VPN is meant for those Big Downloaders on movie files?????

Your VPN services is chargeable? I know nothing about VPN, though can learn from internet.

thks