Your broker may allow you to invest in fractional shares, and in that case, your cost will be exactly the amount you divide by the current share price. Next, divide the amount of money you want to invest by its current share price - but round down to the nearest whole number if you can only buy full shares.ģ. Take a look at the current share price of BBBY stock and the amount you’d like to invest.Ģ. Once you’ve opened your brokerage account, your next step is to decide how many shares you’d like to purchase.ġ. Go through the next steps to buy BBBY from start to finish. Your fastest option is through electronic funds transfer in most cases. Your broker needs more information in that case - about your net worth, your job, assets to invest and your specific investment goals.įinally, you can move money into your account with an electronic funds transfer, wire transfer, check or asset transfer. Let’s say you’re interested in tapping into more investment opportunities than BBBY - such as margin options trading. Get ready to hand over some information, such as your Social Security number and driver's license number. Most online brokers make the process quick and easy to sign up for an account. Once you gather all the information you need and weigh the pros and cons, decide which broker is right for you. You may go for a state-of-the-art platform, vibrant educational offerings or go for lowest cost before anything else. Spend time on each website or call to discuss what a broker can offer you - in person.Ĭhoosing a brokerage is a personal decision. You may also want one-on-one investment advice. It’s a good idea to look into what a particular broker can do for you, whether you can tap into research access and third-party integrations, fractional shares, excellent trading platforms, paper trading opportunities and more. Many brokers charge a commission for other types of trading, like forex, options and more. Even so, it’s important to know an online brokerage firm's full pricing schedule, particularly if you plan on trading anything other than BBBY stock. Most major discount brokers offer commission-free trading. If you want to become an active trader someday, you might want comprehensive analysis tools, research and data offerings and even discounts for high-volume traders. What type of brokerage do you prefer, and what’s best for you now and as you grow? If you want to dabble in trading, you might want a brokerage that offers the basics and a lot of hand-holding. Determine the type of brokerage account you need.
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