Yahoo Finance How to buy Uber shares in less than 5 minutes
In the most anticipated IPO of 2019 and the most watched since Facebook listed in 2012, ride sharing giant Uber will offer shares to the public when it lists on the New York Stock Exchange on Friday, 10 May 2019.
With an IPO price set at $45 per share, the company is raising $8.1 billion, giving it a valuation of over USD $82 billion (AU $117.18 billion).
With more Australians taking rides in Uber or ordering dinner on Uber-eats than any other platform, owning a part of the company that has shaped the way we live is something that many Australians aspire to.
With digital broker apps, such as Stake, you can set up your brokerage account and be ready to trade shares in Uber in less time than it takes for your Uber to arrive!
But first, a disclaimer: do your research making any financial investment. Before you jump into the market, make sure you understand the risks and consider your own personal situation.
1. Create a brokerage account (3 minutes)
If you have an existing brokerage account with an ASX based broker or your bank, opening an international account can leave you incredibly frustrated. It’s full of paper forms and the costs to invest is expensive when compared to the new age brokers.
Apps like Stake have over 30,000 Australian customers and uses new-age technology to make opening a brokerage account to buy and sell US shares as simple as setting up your Facebook profile.
Through the Stake app or website, you can have a fully verified account in under 5 minutes.
All you need to do is sign up with your preferred email address, fill in some personal details, enter your govt ID (license or passport) and the platform verifies you instantly against a government database.
The US tax form (W8-BEN) is also automated for you so you don’t need to print and spend hours trying to get it right!
2. Fund your account
You can fund your US trading account inside the platform and have it on the way to the US in seconds.
If you want to have your funds in your account before the market opens in the US, select “Express” and for a small fee your funds will arrive the same day in time for you to place an order in Uber that night.
FX transfers are provided courtesy of OFX and you can fund your account via card (debit or credit), Poli or bank transfer (supported by Macquarie Bank).
3. Add Uber to your watchlist
Once your account is set up you can follow Uber, even if your money hasn’t landed in the US.
All you need to do is type Uber’s code (which is also UBER) in the search bar.
if you’re money hasn’t cleared into your account, add it to your watchlist.
4. Place your trade
Once your money is in your account, find and buy Uber shares by searching for it, or from your watchlist, and visit the product page on the Stake app or website.
At this point you can check out some details of Uber, read some news and if you’re ready to press play and enter the market, buy your Uber shares.
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