How and Where to Buy Stocks

2007-07-24 08:31:47

( Financial )



A Great Way to Make Money

With the right timing and a bit of luck, you can easily make money by buying and selling stocks. Trading stocks may sound risky to many people, but it really depends on how much initiative you can devote to researching company data as well as your own intuition.

The mechanics of where to buy stocks is no problem, as there are countless broker firms who can deal with you either face to face or online. The question is more of which is the right broker to deal with.

Getting Started on Buying and Selling Stocks

The very first thing you need to do is to learn more about stocks - buying, selling, trading. You can read about stocks through information sites on the net or finance and investment books.

You will also need to choose your stock broker. Get referrals from trusted friends and relatives, and make sure that the stock brokerage firm is listed with either the New York Stock Exchange or NASDAQ. These are the two stock exchange organizations where business firms list their stocks. You can also get good recommendations from highly reliable sources like the Wall Street Journal.

If this is your first time to buy stocks, you may want to choose a full-service stock brokerage firm even if its services are a little more expensive. Get an application form from the broker to open an account. Most brokers require you to put up a few thousand dollars as a starting deposit. Some may also require other documents from you such as identification and tax information.

Once you have begun to actively buy and sell stocks, be sure to keep open communication with your stock broker. The brokerage firm should have at least several of your contact numbers as well as your e-mail address to keep you posted about any developments, and especially where to buy stocks.

Other Important Tips on How and Where to Buy Stocks

Always keep track of your account balances by receiving regular statements of your account. Be aware about any transaction made on your behalf by the stock broker.

Although your stock broker may provide excellent advice about where to buy stocks and when to sell, you will also benefit tremendously from doing your own homework by updating yourself about financial performances of stock-listed companies.


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