How to Buy US Stocks for Non-Residents
Google made many of his employees millionaires when it went public. Similarly when Microsoft offered to buy Yahoo for $44.6 billion, Yahoo’s stock price increased substantially. And when Microsoft withdrew its offer few days back, Yahoo’s stock price started to fell and it’s expected to fall further.
So what will it be for Yahoo? Will it be acquired by Microsoft after all? And if it does (and I think it will be) do you want to be the shareholder of Yahoo’s stocks, and make money out of this acquisition? You better be, because if Yahoo gets what it asks for, that is $37 per share (now trading at $25/share) then you can make $12 per share, that is if you buy now. Analysts are suggesting that Yahoo’s stock price will go further down to $20 per share.
Fortunately at this internet age, that’s not a problem. You can buy US company shares even if you are not
US citizen. One such site that offer foreigners to trade US stocks is OptionsXpress. The company has been lauded by the industry and apparently won “Best Online Broker by Barron’s” in four of the last five years.
What you can trade besides stocks on OptionsXpress? You can trade Futures, Mutual Funds, Advanced Orders, Contingents, Options, Bonds, Spreads, ETFs, and SSFs.
Registration is of course free.
I signed up for it and the registration was very extensive. But at least that tells us that they are serious and know what they are doing. After you have signed up you need to verify your account. You can fund (deposit) your account through ACH, Wire, and Checks.
If you are not ready for real deal, remember UpDown that I talked here? It’s a site that allows you to trade stocks for fun, with the possibility that you can even make money. So you might try that first.
As for the Yahoo, what is your opinion? Will it be bought over by Microsoft? And when is the good time to buy its stocks? Now, or a little later?
P.S You know why they called it OptionsXpress and not Options Express? Well, try this optionsexpress… do you see anything? ;)
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By shawal on May 8, 2008
Its a good business in stock exchange… But i think it needs a lot of money…..
Ades, why does you PR down to 3…?
Correct me if i’m wrong….
By David Marx on May 8, 2008
Methinks this is a good stock market tip. Microsoft suddenly going all soft on the planned Yahoo deal reeks of Sun Tzu’s tactics. They’ll be gobbling these shares up for cheap and then make their move. Definitely a risk worth taking if you’ve got some funds to play with.
By Ades on May 8, 2008
shawal, my pr has been 3 for some time already
David, yes that might be the move microsoft is going to take next…
By deric on May 8, 2008
I would love to try the stock market specially for this Yahoo-Microsoft stocks but unfortunately Philippines was not on the list. Would you have any idea ade if they will offer it in the Philippines as well?
By Dining Tables on May 8, 2008
The last paragraph is stimulating. Reminds me of a shop’s signboard that read Childrensexchange!
By malique on May 8, 2008
thats a good move by them. Xpress, instead of express. Not like this one!
By Ajith Edassery on May 9, 2008
Ades,
There’re also restrictions imposed by other countries. People like us (from India) have to go through n-number of steps before getting approval to buy stocks/funds/options abroad.
Good informative article, though.
Ajith
By Rice Blogger on May 9, 2008
so what is the commission for buy and selling stocks?
By StockTube on May 9, 2008
if you’re look at once in a blue moon investing and not bother about the high commission and the slow web-based trading platform, optionsxpress is good …
but if you’re an active traders, then there’re others which provide much lower commission such as interactivebrokers …
anyway optionsxpress provides great charts and other functionalities that other parties lack of … just thought i should share some info here …
more downside for yahoo … jerry yang’s arse is on fire and he better delivers or else …
cheers …
By Lisa on May 12, 2008
how do i buy stocks overseas,
I’m in Nigeria and i want to invest overseas.
Maybe starting with $100 i guess.
By Ades on May 12, 2008
Lisa, i thought i just mentioned in the above post how you can do that.
By Josh on May 13, 2008
Very informative post, good work. You never can tell how important the info you gave on this post is to me, thanks
By Nicole Price on May 14, 2008
I doubt the MS - Yahoo deal will go through. Besides, had no idea foreign nationals could easily trade in US stock online. Pretty convenient.