So i am wanting to buy some shares of a company, but i dont know how to go about it?!?!? How do i go about buying it??
2006-10-05 03:31:12 · 7 answers · asked by DidiH 1 in Business & Finance ➔ Investing
Do i have to use a broker???
2006-10-05 03:50:57 · update #1
No, you don't need a broker, but it'll be a LOT easier if you have one!
There are a lot of good brokererages depending on what you like and how you trade. Just visit their online site, fill out a little paperwork and send in your check!
Barron's has a good article on brokerages that they publish each year.
For basic stuff, E*Trade, Ameritrade, and Scotttrade are sufficient. For more complex trades, I'd recommend Optionsxpress, ThinkorSwim, or interactivebrokers.
Brokerages like Fidelity are horrible for anyone with any decent experience.
You just go online, fill out the application, send in a check, etc. And you're all ready to go!
Anyways, if you have any questions, let me know.
Hope that helps!
2006-10-05 04:20:12 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
If you are new to the business, you might be better advised to concentrate on mutual funds initially. You do not need a broker to buy them. You can buy them directly from the mutual fund company.
The advantage is that you receive a wide diversity of holding and thus reduce your risk that one bad apple is going to ruin your entire day.
However, 70% of mutual funds do not do as well as the market in general so you have to be somewhat selective. Yahoo mutual fund screener is a good place to evaluate funds. Look for funds that have 4 or 5 star Morningstar rating and a 5 year annual return of at least 10%.
2006-10-05 13:21:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Talk to someone at a brokerage firm and let a professional advise you. They track stocks & bonds and know what a quality company is. Ask about hidden fees up front. Of course you'll have to pay a commission to anyone you buy from.
2006-10-05 10:54:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Before you start investing real money, it's a good idea to get some practice with virtual money. This way you won't be loosing any money, while you are learning how to do it well.
Here is a free internet site where you can practice and learn about the stock market:
http://simulator.investopedia.com
2006-10-05 10:56:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
buy through a broker from your bank your first time and after you're more comfortable, you can find your own broker through financial advising companies like Charles Schwab etc.
2006-10-05 10:39:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Open a brokerage account.
Deposit money.
Submit a Buy Order.
2006-10-05 10:38:16 · answer #6 · answered by dredude52 6 · 0⤊ 0⤋
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2006-10-05 22:57:48 · answer #7 · answered by stock.geek 2 · 0⤊ 0⤋