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If you’re an investor that is looking to add individual stocks to your overall portfolio, there will be several ways of going about accomplishing it. The three most widely available ways of buying stocks are directly through a broker, by using an online brokerage house and by buying directly from the company.
Many people still prefer working face to face with a broker. If you’re one of these people, you’ll want to seek out a reputable firm like Edward Jones or Charles Schwab to find someone who can sit down with you and handle the specifics of your situation and what you want to buy. Having a broker handle your transaction can be more costly though than if it was handled online due to the cost of the broker’s time (he may charge you a simple commission for the trade or he may charge you for his time as well).
The less costly method of executing a stock purchase is to use an online brokerage firm. Companies like E-Trade and TD Ameritrade have been around for years and offer perhaps the easiest and least expensive method of buying an individual stock. To get started, you’ll simply need to contact the online brokerage to open an account. Once your initial deposit is made, you’re ready to begin purchasing stocks on your own.
One of the lesser-known options for buying stock is by doing it directly through the company whose stock you wish to purchase. Many larger companies offer what are called Dividend Reinvestment Programs (or DRIPs for short). These programs allow you the opportunity to buy stock directly from the company without paying a commission. The only drawback is that many of these programs require an automatic monthly or quarterly investment. If you’re looking to build up a portfolio of a stock or group of stocks you’re interested in, this might be your most cost efficient option.
Any of the companies mentioned above would be a good place to start, as they’re all large companies with long histories. Contact them directly to ask them how to get started.
Wiki User
∙ 13y ago
Wiki User
∙ 14y agoOpen a brokerage account. Schwaab for instance. Be advised you can lose all of your investment. See a financial advisor.
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