Is There a Quick Way to Buy US Shares (eg to Jump on GME Hype)

Tried opening a
- Self wealth
- Commsec international account

Both take multiple business days to setup - by which time I’m afraid the GME rocket would have left?

Anyway to set up a US trading account as Australian resident ASAP, to buy GME ASAP (mainly to be part of history)

Comments

  • +15

    As far as I'm aware you're way past the GME ideal time, you're definitely risking buying in at peak highs/hype atm. Would highly reconsider personally.

    Haven't heard of any quick/easy ways to open although I found selfwealth was pretty quick? Mine took maybe 3 days?

    • +1

      Just want to be “part of movement” though the concept seems sound regarding the short and the short interest etc.

      • Dingo is giving good advice. You dont buy high and win.

      • lol

      • What's that even mean, though? There is no 'movement,' it's completely anonymous. Everyone who jumped on GME as it became public is now catching the hot potato as the price drops back to Earth.

  • +13

    Lets bring OzBargain to ASX.

    I'll buy a thousand shares.

    Who's with me?

  • You'd be lucky to be able to trade by Wednesday at the earliest.

    Prob Stake is quickest (use a referral link for free stock) and you'll need to wait for BPAY as they disabled credit card deposit afaik.

    But Stake also sucks as an actual brokerage so prob go Schwab but I don't think that will be quick at all. A lot of Americans are already dumping robinhood for other brokerages which is generating a large queue of backlog on US exchanges.

  • Stake is pretty quick to set up. Around 1 day. Plus you get a free share with a referral. But users are complaining that it was having trouble dealing with the large volume of trading.

    https://www.ozbargain.com.au/node/601523

  • The only broker fast enough is Stake, select express deposit no guarantees you will make it tonight despite the high fees but they give you a ETA.

  • +3

    Get your account sorted then get in on AMC. Dont worry about GME

  • buy GME ASAP (mainly to be part of history)

    Recipe for disaster OP

  • +3

    If you're hearing about it on the evening news, you're too late.

  • -1

    Stake is relatively quick, but you can only trade by setting limits, the app just doesn't work when the market opens.

    Amc is a better bet at this point than gme.

  • (mainly to be part of history)

    This is hilarious. Set up Stake (PM me for referral) but bruh, the horse has bolted. Your "part" of "history" will be to be one of the guys who bought a GME share at its peak from a guy who bought it at $2.

  • You're already too late

  • +1

    I can't see how it's going to be a "massive disaster" like some people suggest if you only buy what you can afford to lose. Yes there's definitely a risk, but if you can afford to buy a share, or even a partial share to be part of history and have a gamble at making some massive gains I'd go for it.

    You can wait for a dip but even then it's going to be like $250 USD.

    If they manage to hold long enough there will be massive gains, that's why they are desperately trying to divert everyone's interest to other shares like AMC or try to get them to invest in silver.

    Don't listen to them. Yes AMC might be a good long term share, but there will likely never be an event like $GME again.

    I'm a retard and eat crayons and this is not financial advice, I can't even read.

    • 💎🙌🚀

  • +1

    Me and some friends put some money on GME, but beware that its a race between longs and shorts ie Melvin or whoever is increasing their shorts. Also, beware the lies and manipulation, ie gme hype over, ladder attacks, buy silver, buy dogecoin, etc. Supported by pro hedgefunds media and millions of bots. See wallstreetbets for more. Ie https://old.reddit.com/r/wallstreetbets/comments/la8n7o/fake...

    Only put in what you're willing to lose.

    Edit: we put some money to kick ass. This is not investment advice. We just like the stock.

  • GME fell $100 yesterday.

    You may end up being thankful to CommSec for their slowness in setting up an international account. It may save you a lot of money.

    Just because a guy wears a t-shirt and posts on Reddit, doesn't mean that he can be trusted. Pump-and-dump operations are as old as the stock market, and just because the pumping is being done on Reddit doesn't make it anything other than pumping.

    • +1

      Looks like the HF are doing ladder attacks again, time to buy on the dip. This is not financial advice. I like the stock.

      • I concur. Dips are a great op to buy buy buy and hold hold hold. Thanks HF for being kind enough to cause the dip!

    • If you’re referring to DFV he’s actually got a CFA, and if you’ve watched any of his Youtube videos he is actually very legit in terms of being an analyst. I watched his three part video on the tools and spreadsheets he uses and it’s pretty impressive stuff.

  • What's the best and most reliable one? As someone wanting to get into after this whole fiasco haha…

  • I’m not sure which broker will be able to open up an account fast as that’s not something I’ve really ever measured when deciding on a brokerage firm, but the broker that I would recommend from personal experience is SelfWealth, the brokerage fee is cheaper than CommSec but the platform is simpler so there is a bit of a trade off, you might find it too limiting if you want to do more than just buy and sell stocks/ETFs only.

    I’m actually in the process of opening up a Schwab International account, heard good things about them and they don’t charge a brokerage fee, and they have more advanced trading such as options trading.

    Stay away from Stake, performance during times like this is horrible and the platform has always been too basic for my liking. They also just banned buys on GME, NOK and AMC (not that I recommend buying it now). I’ll be moving my equities over to Charles Schwab once I’m signed up.

    If you go with SelfWealth there’s a referral page.

  • -1

    Mate your 2 weeks too late

  • Received this email from Stake today:

    We have just received notification, our broker-dealer in the US, DriveWealth, will not be able to offer Buys on GameStop ($GME), AMC Entertainment ($AMC) and Nokia ($NOK) due to increased capital requirements set by the DTC.

    Any buy orders on any of these symbols made after Monday’s close will automatically be cancelled prior to market open Tuesday.

    To be clear, this is not a decision Stake has made. As DriveWealth is our broker-dealer, we can only reflect the securities they make available. As such, we are unable to confirm when this may change.

    If you’d like to understand more about the DTC and capital requirements, we’ve provided more information below.

    • I actually had NOK prior to the madness i sold out last night after i realised this might happen

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