According to one report, around 58% of people in the US own at least one stock.
If you don’t own any stocks, you might be thinking about buying your first one. However, if you’ve never bought stocks before, you may not know how to buy one without the help of a broker.
This post will teach you how to buy stocks without a broker. Whether you want to make a big or small investment, these tips will help you get started in the world of stock trading.
Finding an Online Platform
If you want to buy stocks without using a stock broker, you will need to use an online trading platform.
Now, if you don’t know how to buy stocks online, you might have no idea where to begin here.
For the most part, you just want to make sure you pick a platform that doesn’t charge you high commission fees.
If you use a platform that has high commission fees, your profits will be lower, and you might even end up losing money.
Luckily, lots of trading platforms offer 0% commissions, so you should look for this when choosing a trading suite.
Open up a Virtual Account
Once you find an online trading platform that looks as though it will be suitable, you should think about opening a virtual account.
A virtual account is an account that lets you make trades using “fake money.” Most trading platforms offer this kind of thing to anyone that wants to open an account with them.
Trading with fake money is a good way to figure out how stock trading actually works. After all, if you make a mistake, you won’t lose any of your own money, and thus you can essentially learn for free.
Opening up a virtual account also lets you see if your chosen trading platform has a good user interface. If you find that things are too complicated or slow, you might want to think about moving to another platform.
Come Up With a Trading Plan
Before you start buying stocks with your own money, you should develop an investment plan.
This investment plan should cover the types of stocks you will buy, and how much you will spend on stocks each month. Your plan should also explain how long you will hold these stocks.
If you don’t know how to pick stocks, you may want to listen to a podcast that covers the topic of investing.
Such podcasts will provide you with useful investing tips, and you can then use this information to develop a solid strategy.
Do You Know How to Buy Stocks Without a Broker?
Now that you’ve read this post, you should know how to buy stocks without a broker.
It’s important to remember that there’s no need to rush anything here. You should take things slowly, because if you just buy a bunch of stocks without much thought, you may lose a lot of money.
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