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How to buy a single stock share as a gift for 16 year old?
Hi everyone:
I wanted to buy a Christmas gift for my niece and I thought it would be nice to get her a single stock share of some company. Just FYI she is turning 16 next year. I did some research online and there's a plenty of companies that frame stocks, etc. I do not need this. I think it's an overkill. What I'm looking for is some solid company that I can start an account for her so that she can take over later. It is also preferable if they sent me some paperwork of this first stock that I'll purchase for her (so that I can put it into the Merry Christmas card for her).
PS. Again, I don't want to pay any extra for all the "frills" associated with framing it, etc.
PS2. Forgot to say, we live in the US.
4 Answers
- 9 years agoFavorite Answer
Scottrade- No service charge
7 dollar commission per trade no matter how many shares.
You have to make a custodial account.
This can only be done through fax or mail and you should contact the company if interested.
I highly suggest more than one share. One share will make you a good 10.00 bucks in a year if your lucky. Go with at least 50 shares.
Source(s): 17 year old custodial account investor on stockttrade - Eddie WLv 79 years ago
Giving stock as gift is very common, especially to a young person. There are stocks you have to avoid, unfortunately, technology stocks. Whether it is Apple or Google. The reason is very simple, a leading technology today will someday be replaced by another technology.
I am in favor of the Big Cap, dividend-paid and more conservative stocks. Walmart, McDonald's as examples are good long term investment portfolios.
You can purchase the stocks through a brokerage. Having done that, you inform the brokerage that you want to register the stock. I think you have to pay about $15 service charge. About 10 days after, a certificate shall be mailed to you or ready for you to pick up. Subsequent to this, the quarterly dividends shall be sent to the registered owner.
- clayjar_aznLv 79 years ago
With the commisions for buying and selling stock is around $7-$9. You would end up spending $14-$18 in commissions alone so it is worth it if you buy a stock like Apple ($390 per share) or Google($625 per share). Not worth it if you buy Bank of America ($6 per share) or even JPMOrgan ($32 per share) as the commission would take away significantly from the value of the stock.
- ?Lv 79 years ago
It isn't clear whether you want a single share of stock OR an account or a single share of stock AND an account. One of the least expensive online trading options is Scottrade. Each trades is, I think, seven dollars so you'd be paying a pretty high percent in costs. Don't know if you can buy a single share through them but might be possible.
