Etrade Review

Step-by-step Instructions on Buying Stocks at Scottrade, Optionshouse, and TradeKing.


Step-by-step instructions on how to buy your first stock: Step 3 - buying a stock



Step-by-step instructions on how to buy your first stock online.


Step 3: Buying stocks (Read Step 1 and Step 2 first)

After your funds are transferred, you are finally ready to buy stocks online! These are step-by-step instructions of how to buy shares with all three firms:

Scottrade (Scottrade Review): Log in into your account. Click "Trade" tab on top in main menu. In "Buy/Sell" box select "Buy". In "Shares" box enter the number of shares you want to buy. In "Symbol" box enter a symbol for a company you want to buy (you could look up those on the internet by typing "symbol for Apple/Facebook/etc" in Google). To the right you will see a price at which this stock is currently trading. In "Order Type" box you could leave "Market" if you want to buy stock at the current price, or you could change it to "Limit" and set your own price (if your price is below market price, this order will execute only when market price falls to your price, which could take some time). If you used "Limit" order, than change "Duration" to "Good till canceled", since it will take time for a market price to reach your price. After all that, click "Preview Order" button and if order looks good click "Place Order" button.

Optionshouse (Optionshouse Review): Log in into your account. In "Quote lookup" box in top-left corner enter symbol for a company you want to buy (you could look up those on the internet by typing "symbol for Apple/Facebook/etc" in Google) and press "Go" button. It will show you a price at which this stock is currently trading. Click blue "Buy" button and a new window will appear. In "Quantity" box enter the number of shares you want to buy. The "Price" box you could change to "Market" if you want to buy stock at the current price, or you leave it at "Limit" and set your own price (if your price is below market price, this order will execute only when market price falls to your price, which could take some time). If you used "Limit" order, than change "Duration" to "Good till canceled", since it will take time for a market price to reach your price. Than click "Preview" button and if order looks good click "Place Order" button.

Tradeking (TradeKing Review): Log in into your account. In the main menu select "Trading", than "Stocks + ETFs". Under "Action" select "Buy", under "Shares" enter the number of shares you want to buy. Below "Symbol" enter symbol for a company you want to buy (you could look up those on the internet by typing "symbol for Apple/Facebook/etc" in Google). At the bottom it will show you the price at which this stock is currently trading. Below "Price" box you could select "Market" if you want to buy stock at the current price, or select "Limit" and set your own price (if your price is below market price, this order will execute only when market price falls to your price, which could take some time). If you used "Limit" order, than change "Duration" to "GTC" ("good till canceled"), since it will take time for a market price to reach your price.

If you used "Market" order above, you already bought and own a stock you wanted! If you used "Limit" order, you will have to wait for your order to execute. It might execute soon, or in a few hours, days or, even, never, depending on the price you set.

If you followed instructions above - congratulations! You just bought your first stock! Hopefully it will make you a lot of money.

This article was updated on 03/24/2014.


Related articles

OptionsHouse
Please share us with your friends





Online broker promotions:
Copyright ©2009-2014 Brokerage-Review.com. All rights reserved.
The stock brokerage firm you select is solely responsible for its services to you, the user. Brokerage-Review.com shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of a brokerage house's services. Brokerage-Review.com has partner relationships with other companies. As a partner, we often provide reviews of products and services based on our personal opinions. We are not compensated for positive reviews. While we strive to make sure that the information we present here is true and accurate upon publication, the rates and offers that we share with you may change without notice, so please visit the sites we reference for more up to date information.