I want to invest $5k for my young kids (2.5k each) to leave and follow for the next 10-12 years.
Was hoping to invest in a single US stock of a brand they’re familiar with (eg. Netflix or Apple).
What’s the best platform for that scenario? More keen on something that will actually be around in 10 years, rather than one of the newer platforms (eg would prefer a bank) but don’t want the money drying up due to ongoing fees.
Thanks in advance for any suggestions.
ComSec charges $20 a quarter or something like that if you don’t transact regularly.
It’s easier to explain to kids and follow holding a single stock of a company versus and index with dividends etc.
only if you have an international account.
For kids buy the global 100 index diversified and big names on comsec pocket. Save yourself the trouble.
Was hoping to invest in a single US stock of a brand they’re familiar with (eg. Netflix or Apple).
Most trading accounts will allow you to enable purchasing overseas stock etc.
You'll have to put it in your name though as minors can't own stock directly
Thanks for the info, the trouble is most accounts have fees if you don’t transact
Have a look at nabtrade then, it has no fees if you don't transact and you can buy intl shares etc.
Good idea. Apple has so much room to grow. I’d look at something less established.
I personally use Stake and its been easy to use. You only need to pay an exchange rate fee and a transaction fee when you put in money or take it out. $0 brokerage fee.
let me know if you need a referral code!
How legit are they though? Are they likely to be around in 10 years? Do I actually own the stock?
I believe the company has been up for 2 years already but I've been using it for at least a year and feel secure using it. I'd recommend to DYOR just in case.
Why not just buy VTS locally
If you're desperate to hold a specific stock, ComSec can facilitate purchases of US scrip. There are no doubt many others, probably many who are cheaper, but they'll certainly do it for you.
Do you really want to hold two single stocks though? Why not some sort of international shares ETF/mutual?