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how do you invest in stocks ?
you can invest in stocks through licensed brokers . they will charge you a commission fee for letting you into the market . some charge a flat fee, some have a percentage .
let’s look at some brokers in two countries – india and usa , for other countries , please consult a financial advisor .
almost all countries have a stock market , don’t miss out on the greatest wealth builder of all times .
follow the simple mantra : learn to live on less , save and invest . live debt free . when you are in debt , you are like a slave .
india ( in no particular order )
- kotak mahindra bank
- angel broking
- motilal oswal
usa ( in no particular order )
- e trade
- charles schwab
- td ameritrade
- t rowe price
due to the competitive nature of the brokerages , a lot of them are offering zero brokerage trades as of now in the usa and there have been some recent mergers as well .
if you are living in india and would like to invest in the stocks in usa , you can check out vested.co.in
for vested :
- there is a wire transfer fee : IN ( INR 750 – 1500 ) and OUT : ( usd 11 )
- you have to do a KYC ( Know Your Customer )
- there is an INR 399 account opening fee.
- for the KYC , you need the PAN Card and Address proof ( aadhaar card or bank statement for three months ) .
- it takes 3 – 5 days for approval
as for the taxes , there are long term ( >= 24 months) and short term ( < 24 months ) capital gains gains tax , the figures for long term is 20 % or so .
zerodha recently announced plans to start investing in usa stocks for india citizens as well , but this will take some time.