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Author Topic: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.  (Read 18318 times)

Charl Du Plessis

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I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« on: April 25, 2017, 11:10:10 am »
Hey Everyone  :)

As stated in the Subject, I'm searching for Brokers that allow me to buy stocks that pay dividends monthly.

For example Realty Income (O)...

The criteria is as follows:

- Free/Low/Reasonable Commission Fees
- None or Very Small Starting Amount... eg Interactive Brokers needs $10,000 just to have an account with them... (I have R0.00)

I can consistently Afford investing R5000 into such shares. (Monthly Dividen Shares.)

Please kindly list some broker suggestions for me and how much commission is charged as well as the starting amount needed.

Update: I just came across this list.. http://www.dividend.com/best-online-brokers/
Update.. :( You have to be a US Resident to use TradeKing.com or optionshouse...
Update.. So it seems like Ameritrade is the only viable option at this point in time ($10 per trade) unless someone can recommend another?

Still waiting on suggestions.
« Last Edit: April 25, 2017, 03:55:41 pm by Charl Du Plessis »
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Patrick

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #1 on: April 25, 2017, 11:47:12 am »
Local or foreign?

It's pretty hard to beat easy equities on ease of use and fees locally. For foreign, the cheapest is de giro. No minimum, no monthly fees, but you need a US or EU bank account.
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Charl Du Plessis

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #2 on: April 25, 2017, 12:16:06 pm »
Quote from: Patrick on April 25, 2017, 11:47:12 am
Local or foreign?

It's pretty hard to beat easy equities on ease of use and fees locally. For foreign, the cheapest is de giro. No minimum, no monthly fees, but you need a US or EU bank account.

Foreign.
Looks good, but no cigar... Don't have a US or EU bank account :(
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gcr

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #3 on: April 25, 2017, 12:23:27 pm »
I am not sure that you will find shares that pay dividends monthly - and are you looking local or foreign markets. If you are able to generate an investable amount of R 5,000 per month (presumption) then you may be better off investing a 32 day account with interest back into the source account. There are not too many ETF that will give you a reasonable dividend return that will compete with a short term bank investment, and I am not aware that any equity based investment gives you a monthly dividend stream most are quarterly as the shortest cycle

It may pay you to accumulate some funds as a short term approach in a monthly returning investment and then when you have the prescribed minimum deposit requiremtn move the funds to that account to purchase your equities.
The big issue for me is your need for a monthly dividend stream which I don't think you will find - maybe a forumite can clarify if such funds do in effect exist
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Hamster

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #4 on: April 25, 2017, 12:49:08 pm »
Quote from: Charl Du Plessis on April 25, 2017, 12:16:06 pm
Quote from: Patrick on April 25, 2017, 11:47:12 am
Local or foreign?

It's pretty hard to beat easy equities on ease of use and fees locally. For foreign, the cheapest is de giro. No minimum, no monthly fees, but you need a US or EU bank account.

Foreign.
Looks good, but no cigar... Don't have a US or EU bank account :(

Can't you use make use of one of FNB's Global Accounts?
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Charl Du Plessis

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #5 on: April 25, 2017, 01:04:35 pm »
Quote from: gcr on April 25, 2017, 12:23:27 pm
I am not sure that you will find shares that pay dividends monthly - and are you looking local or foreign markets. If you are able to generate an investable amount of R 5,000 per month (presumption) then you may be better off investing a 32 day account with interest back into the source account. There are not too many ETF that will give you a reasonable dividend return that will compete with a short term bank investment, and I am not aware that any equity based investment gives you a monthly dividend stream most are quarterly as the shortest cycle

It may pay you to accumulate some funds as a short term approach in a monthly returning investment and then when you have the prescribed minimum deposit requiremtn move the funds to that account to purchase your equities.
The big issue for me is your need for a monthly dividend stream which I don't think you will find - maybe a forumite can clarify if such funds do in effect exist

So, through TradeKing if I open an account, and pay $4.95 for 1 trade... of about R5000 invested into say... (ARR), right now @ 9.5% monthly dividend, I'll be getting R477 monthly (as it stands). When I see the figure lowering, I can just move my money.

Even if I'm taxed 30% of that... its still good.

So I'm really just looking for better brokers atm.
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Mr_Dividend

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #6 on: April 25, 2017, 03:15:30 pm »
9.5% p/month - wouldn't that be great. in dollars nogal. There are ponzi schemes that offer less!

I doubt it - must be per year, even then, that's a pretty good div/yield for the states. in sa there are a couple of REITs paying around 11% per year.
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Charl Du Plessis

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #7 on: April 25, 2017, 03:57:00 pm »
Quote from: Mr_Dividend on April 25, 2017, 03:15:30 pm
9.5% p/month - wouldn't that be great. in dollars nogal. There are ponzi schemes that offer less!

I doubt it - must be per year, even then, that's a pretty good div/yield for the states. in sa there are a couple of REITs paying around 11% per year.

http://www.dividend.com/dividend-stocks/financial/reit-diversified/arr-armour-residential-reit-inc/

You sure its not legit?
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Patrick

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #8 on: April 25, 2017, 04:45:54 pm »
9.5% p/a paid in monthly increments of course.
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JohnnyH

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #9 on: April 25, 2017, 04:54:46 pm »
Quote from: Charl Du Plessis on April 25, 2017, 03:57:00 pm
Quote from: Mr_Dividend on April 25, 2017, 03:15:30 pm
9.5% p/month - wouldn't that be great. in dollars nogal. There are ponzi schemes that offer less!

I doubt it - must be per year, even then, that's a pretty good div/yield for the states. in sa there are a couple of REITs paying around 11% per year.

http://www.dividend.com/dividend-stocks/financial/reit-diversified/arr-armour-residential-reit-inc/

You sure its not legit?

Just be careful, I see ARR cut their dividend by 13% in Jan '17. Maybe first make sure the co is still solid?
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Charl Du Plessis

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #10 on: April 25, 2017, 05:03:55 pm »
Quote from: JohnnyH on April 25, 2017, 04:54:46 pm
Quote from: Charl Du Plessis on April 25, 2017, 03:57:00 pm
Quote from: Mr_Dividend on April 25, 2017, 03:15:30 pm
9.5% p/month - wouldn't that be great. in dollars nogal. There are ponzi schemes that offer less!

I doubt it - must be per year, even then, that's a pretty good div/yield for the states. in sa there are a couple of REITs paying around 11% per year.

http://www.dividend.com/dividend-stocks/financial/reit-diversified/arr-armour-residential-reit-inc/

You sure its not legit?

Just be careful, I see ARR cut their dividend by 13% in Jan '17. Maybe first make sure the co is still solid?

Yeah, was just an example, however I'd probably go for the more reliable Monthly Dividend Companies like Realty Income (O).

Still though, I need a low cost broker... Currently signing up with Ameritrade, because its the only one that I can find that serves Non-US traders like myself...

Still waiting for better suggestions.
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Mr_Dividend

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #11 on: April 25, 2017, 05:13:46 pm »
Did do a bit of looking a while back it seemed you had to have an overseas bank account - please let us know if find out differently.
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Charl Du Plessis

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #12 on: April 27, 2017, 09:29:29 am »
Yeah, I found out as well that you need an overseas account.

I ended up going with Ameritrade.

That being said, I'm still looking for a cheaper broker.
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JohnnyH

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #13 on: May 25, 2017, 07:32:41 am »
Quote from: Charl Du Plessis on April 27, 2017, 09:29:29 am
Yeah, I found out as well that you need an overseas account.

I ended up going with Ameritrade.

That being said, I'm still looking for a cheaper broker.

Hi Charl.

How are you finding Ameritrade? What are the costs/processes like?

I am still waiting for the Easy Equities offshore solution...Hoping for some details soon!
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jonb

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Re: I Need Broker Suggestions. I'm Looking to Buy shares that Pay Monthly Dividends.
« Reply #14 on: June 18, 2017, 11:25:25 am »
Quote from: Patrick on April 25, 2017, 11:47:12 am
Local or foreign?

It's pretty hard to beat easy equities on ease of use and fees locally. For foreign, the cheapest is de giro. No minimum, no monthly fees, but you need a US or EU bank account.

Patrick, Quick one!

I have a Netherlands account open which I use to administer a pretty much US-based investment portfolio

I have this as I lived there several years  ( now back in SA )

Looking at De Giro , definitely look like the best fee structure vs a bank

To sign up though they were asking for EU or UK address ? are there ways around that?



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