Online account with access to IPO?
Sade asks:
I currently have a zecco account and I don’t believe I can access IPO’s (the initial price), does anyone know of any online brokers that have access to ipos? I am interested particularly in the VISA IPO.
I currently have a zecco account and I don’t believe I can access IPO’s (the initial price), does anyone know of any online brokers that have access to ipos? I am interested particularly in the VISA IPO.
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Your broker would have to be in the selling group. A few of the larger established houses may be. Inquire about getting a prospectus from your broker. On the front page you will find the entire selling group. I doubt you will be able to get VISA before it goes public. That will be for good clients of brokers in the selling group.
The prospectus may well be online, you could look for it.
I tried to participate in the IPO for NYMEX. Fidelity would not permit me because my assets were too low. They wanted assets in my brokerage account of $100K. IPOs are not for novice investors.
Your average investor ( on- line or otherwise) cannot usually get the ” initial offering” price… That goes to huge customers of the ” house” handling the offering. What you end up doing is getting on the morning of the IPO…and try to get good quotes…and try to set a limit order ahead of them..( usually ” market orders” not accepted).
With VMW , I must have placed six different orders ( on the way up) and got shares at $ 50.75. If things work out, it’s worth the fooling around!