Many applications, websites, and even platforms appear to meet the increasing demand for buying stocks online. This solution helps users invest quickly, save time and easily manage.
Grasping the tastes of society, sharing in the following article will help you know how to buy stocks online.
Where To Buy Stocks Online?
Currently, the stock market receives the attention of many investment enthusiasts. Therefore, there are many places where you can buy stocks online. Most are websites or apps dedicated to stock trading. Let's take a look at these markets.
Robinhood
Although Robinhood is an application that has appeared in recent years. However, the attraction of this application is that it allows users to trade stocks for free. Moreover, you can use it on both apple and android operating systems.
Besides, users can also buy shares with a small investment amount. The application also generates a significant profit for you. This is also the app's strategy to attract more stock buyers.
Many customers who have traded shares on this app only cost you $4.95 per trade. Compared to other market transactions, the commission fee of the application is relatively low.
Besides the outstanding advantages, the application also has disadvantages that you should pay attention to. The app version is only for smartphones, not the desktop version.
Fidelity
If you are looking for a brokerage company to serve for long-term investment, you cannot ignore Fidelity. It is challenging for you to find such a reputable online broker.
Fidelity received the love of many people because of the features of the service. So, you can create and use this account for a long time.
At the same time, all forms of stock purchases or caregiving are excellent.
Overall, this broker will help you to make online stock purchases with just a mobile phone. Besides, using a desktop computer is also best supported.
M1 Finance
M1 Finance not only supports you to buy shares quickly but is also free of commissions. All operations on this platform are free, so there are many people to choose from.
Currently, the platform has promotions for new depositors. You can get up to 2500$ when you invest using this platform and get that offer.
Vanguard
When you need to buy stocks online, vanguard is the community you should join. You only need to pay a low cost to be able to invest in your favorite stocks.
In addition, the number of investments is also unlimited, and there is no commission for each transaction. The best way is to learn the rules of the platform before using it.
How To Buy Stocks Online
Step 1: Open an online stock account
The most important thing before you open an online stock account is to find reliable stock platforms. You must be the person who knows the amount of money you buy the stock in the right place and the most reasonable. Then, proceed to open an account in the following order:
- Visit the homepage of Interactive Brokers address: This address is the most prestigious homepage for online stocks today. The site also allows you to invest and manage the number of shares you own.
- Click 'Open an account' in the toolbar: In the left corner of the screen, there is a menu bar and text for you to create an account. If you left-click on this text, the homepage will display the registration form to open an account.
- Click "Individual Investor or Trader": At this step, you click to choose one of the two rights to participate in this homepage. For those who want to buy stocks, select “Individual Investor”.
- Fill in the information and close the registration: All the knowledge that the homepage wants you to fill is displayed on the registration area. You need to fill in the news and press the “Save and continue” button. Thus, the registration process to open an account to buy shares has been completed.
In addition to the simple steps to open an account to buy shares as above, you can also find more trusted apps or websites to buy stocks. The steps to open an account are the same as the ones above.
Step 2: Download the trading software on the device
Once you have an account to buy stocks, you must download the trading software to your mobile devices or personal computer. The way to do it is pretty simple, and you just need to click on the software download location to download it.
Then you perform login to the platform with the account registered in step one. During the login process, pay attention to fill in the correct information previously registered to confirm the right information when buying shares.
Step 3: Determine the number of shares you want to buy
In fact, determining the number of shares you want to buy is quite essential. Those who do not have experience choosing stocks will be pretty confused about their decision.
The best way is to consult and learn information about stocks. Then, consult with more experienced people and choose the stocks you want to buy. At this step, you should also learn about your needs and abilities to choose the right type.
In general, the prices of stocks are pretty variable and have a lot of volatility. To start with certainty, you can break down the amount you invest in different stocks.
One suggestion for you is not to put all your money in one stock. When you do, the risk of paying taxes and falling stock prices will set you up for failure in this investment.
Step 4: Buy stocks
At step 4, the operations that will perform the stock purchase will be on the platform you trade on. Since you have already determined the number of shares you want to buy, click create a purchase order right on the screen's menu bar.
Next, right at the "Quantity" section, choose the number of shares or enter the quantity you want to buy directly. In some cases, the platforms ask you to set the number of shares at a certain number. At this point, you can make your shares high or low.
Some platforms now even ask the customer to enter an additional price that you are willing to pay. If required, please enter the amount you want to invest in the platform to support it better.
Then, you choose "Date" to buy shares in the toolbar. When you want the order to stay open until completed or canceled, click “GTC.”
The last step is to click on “Buy” to complete the stock purchase. The rest of the work will be done automatically by the platform. However, before deciding to buy, review all the information in your order carefully.
Step 5: Confirm the order you purchased
Once you have clicked the “Buy” button, the platform will display all the information that you have ordered. The purpose of this is for you to double-check. If the information is correct, you choose to confirm the order to complete the online stock purchase.
Notes To Consider When Buy Stocks Online
Stocks are one of the quick and easy ways to invest. However, you need to be aware that there are risks involved in buying stocks.
Find out the price of the stock you want to buy
First of all, you should carefully research the stock you want to buy or the share price of that unit. Even if you choose to invest in stocks of well-known and stable companies, there are certain dangers.
You need to pay attention to the refund policy when buying certain types of shares. If you make a mistake, you will not be refunded and are solely responsible for any transaction. Therefore, the one who suffers in this matter is you. The best way is to follow the advice of reputable financial advisors.
Besides, stock prices can double in value or sometimes fall to harmful levels. You won't be able to predict what will happen next. For example, if you invest a large amount of money, you will lose everything if there is a risk. Because you pay attention to dividing the amount to buy many types of stocks.
Currency trading
Another scenario is a stock that requires trading in a currency that is not the same as you use. In this case, you must immediately think of the high risks that may occur.
To save you money in vain, first, convert your monetary value to the economic value of the stock you want to buy. This way, you can control your trading and the number of your online stock purchases.
In short, you should carefully research the details of the stocks you want to buy. Then decide to choose the stocks you trust the most for long-term investment and more profit.
Conclusion
With the division of the article on the topic How to Buy Stocks online, hopefully, you have gained helpful knowledge for yourself. Also, when you want to buy stocks in the future, this guide will help you invest smarter.