How to Buy Stocks Online for Cheap
- 1). Research various online brokers to determine which one suits you. Online brokers charge different commission rates and fees depending on the services provided and the account size. Thoroughly research the portfolio size required to open an account.
- 2). Request an application and any additional required information. Many online brokers also provide online applications, which take significantly less time to process. At this point you should have a list of potential securities to buy.
- 3). Gather all required account information to fill out the application. All brokers require a valid photo identification card, a completed W-8 form and a social security card.
- 4). Fund the account through a debit card, money wire or check. This process takes one to three days due to security clearances.
- 5). Buy the securities once the account is fully funded. If the account is not yet funded, the broker may charge interest.
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