Visa IPO offering - I have 20k, but need 80k more for Full brokerage account, is this feasible?
Marty asks:
I have been thinking about investing in Visa’s IPO. They are leader in the market, and could very well pull a stunt like Mastercard did in 2006. I spoke with one of the brokers in the initial offering and they require 100K to open an account. I only have 20K, and have talked to a couple of friends who would like to do the same. I know we can open a Joint (multiple Investors) account and do it that way. Is this a common practice or are there other vehicles we could use to achieve the same result?
I have been thinking about investing in Visa’s IPO. They are leader in the market, and could very well pull a stunt like Mastercard did in 2006. I spoke with one of the brokers in the initial offering and they require 100K to open an account. I only have 20K, and have talked to a couple of friends who would like to do the same. I know we can open a Joint (multiple Investors) account and do it that way. Is this a common practice or are there other vehicles we could use to achieve the same result?
Related questions:
- Buying VISA IPO-use Scottrade or Broker @Wachovia? Archie asks: The Visa IPO hits the week of 3/17 & I want in. My buddy who works for AG...
- I’m a beginning investor, where online can I go to buy shares of the Visa IPO? Frederica asks: I would prefer an online broker with no account minimum to open. Thanks for the info in advance....
- How do I get in on Visa IPO paying the IPO price instead of the price on exchange? Vickie asks: I don't want to wait till it gets on exchange when the price might be doubled. I want...
- 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...
- Why does Google Finance show Visa trading history if Visa has not yet had an IPO? Maxie asks: If I look up Visa (symbol = V) on Google Finance, it shows stock history from 2005 and...
You could start an investment club.
One problem with a joint account is anyone listed on the account can go and withdraw the funds at any time. Sure the check will be in all their names, but signatures can be forged.
There are other issues with doing it in a joint account - too numerous to get into here.
You want to make sure to protect yourself.
You could consider a different broker. Have you shopped that?
Also, this is not a great market for IPOs. So, the force may not be with you on this deal.
Not a good idea. Who’s ss# is on the account. Who pays taxes, who gets to make trading ideas, who gets to withdraw money. There are 8 u/w on the deal, call all of them and find out the requirements. tba
Most brokers don’t require 100K to open an account. Is he GUARANTEEING you a bunch of IPO shares? They are probably being allocated to only the best customers, since they are in high demand.
Remember. The moment after the bell rings on the first day of trading, it’s no longer an IPO and it trades on the open market like any other stock. Buy it then.