US Shares

McPete_2

Hi all,

I'm trying to purchase a few shares in an American company and have no idea what I'm doing.

I tried to go through hoodless brennan, transferred the money in, and then when I went to order they advised me they couldn't as it was an international company (guess I should have probably checked this first).

I need the shares before Friday as that's when the Q1 data is released. Could someone please advise of a site that will allow me to do this, as cheap as possible as well ideally (planning on about 2k's worth, and will probably hold for about a week). Was thinking selftrade manybe?

Thanks,

Pete.

tradetime

Seftrade is a possibility, Interactive Investor is another one, E*trade, and possibly TD Waterhouse, are you trying to do this inside or outside an ISA, as some seem to restrict access to shares if it's inside. With Interactive investor the stock may need to trade in excess of 50,000 shares per day average, another UK broker quirk I have found.

barrooo

I'm trying to purchase a few shares in an American company and have no idea what I'm doing.

Are you sure you want to buy them in that case?

Seriously though, said company should be listed on an exchange, I'm assuming, since its American it will be listed in the states, but I'm not sure what they mean by international company. Either its listed or it isn't and even large conglomerates are listed, usually on more than one exchange. I don't often deal in physical shares as I see them as a longer term investment and I'm not sure you'd be getting good value for money if your only holding them for a week, it might be better to try CFDs or spreadbetting, assuming they are a big company, most brokers would have a quote. Also when buying the shares you need to convert your currency which adds another element of risk.

malik999

Which company are you looking at?. 2k's worth for a week in the current climate off Q1 data may not be worth all the time, hassle and cost imo.

purch

and have no idea what I'm doing

Not a good idea then !!!

GucciMane

Go on IGmarkets and purchase CFD. If you understand it anyway. Best way to purchase an international share imo!

McPete_2

Thanks for all your replys

To answer some questions:

Wasn't planning to put it in an ISA, thought it would be easyer to just do a 1 of trade.

When I said I didn't know what I was doing, I meant in regards to the buying and selling. I've done a fair bit of research into the company and feel the odds are in my favour.

The shares I was looking at are AXP. I figured if they went up just a few $ it would be a nice little profit. And no major harm done if I have to sell at a loss...

Masomnia

Yeah it's listed on the New York Stock Exchange. Halifax is looking like it would let me buy through their sharedealing service, so it's definitely possible. I reckon you should be able to do it cheaper though.

malik999

McPete wrote: »

Thanks for all your replys

To answer some questions:

Wasn't planning to put it in an ISA, thought it would be easyer to just do a 1 of trade.

When I said I didn't know what I was doing, I meant in regards to the buying and selling. I've done a fair bit of research into the company and feel the odds are in my favour.

The shares I was looking at are AXP. I figured if they went up just a few $ it would be a nice little profit. And no major harm done if I have to sell at a loss...

AXP - $19. Not a good buy imo. For such a small investment you would be better off with BAC @ $7.70 and WFC @ $17 imo.

tradetime

malik999 wrote: »

AXP - $19. Not a good buy imo. For such a small investment you would be better off with BAC @ $7.70 and WFC @ $17 imo.

Given it's an earnings play, and BAC and WFC have both reported, that would kind of negate that, it's not a great idea to be investing on the basis of how many shares you can get for your money, as you can get a helluva lot more FNM.
As to the OP be advised afaik AXP earnings are after close Thursday.