Learning how to trade stocks with your bank account is as easy as following these simple steps. Trade stock is a good way to make money and be your own boss at the same time. Also, if you are looking for reliable retirement fund and have a considerable appetite for risk, then trading stock may just be the best option for you. While there are many rules with trading stocks and it is virtually impossible for you to know all of them, but knowing how to trade stocks with your bank account could give you a jump start. In this article, you will learn the easy steps on trade stocks with your bank accounts.
To trade stocks with your bank account, you will need:
- A computer
- broker account
- bank account with online banking
- Open a bank account with online banking option. If you have not done so, you will need a bank account with online banking option. This is not an absolute necessity, but it can speed up the process of trading stocks a lot faster and avoid considerable fees in the process. Just about any stock brokers will need you link your brokerage account with a bank account.
- Find the right broker. There are two types of brokers you can choose from, full service and discount broker. Full service brokers have physical presents, maybe even in your community. They charge a premium for their service. It is recommended if your have a high principle or limited Internet knowledge. Discount brokers are Internet brokers that deal with a large volume of clients. They typically provide online tools that help you trade stocks with your bank account, but they typically do not offer any personal support.
- Transfer fund from your bank account to broker account. This is the last step in trade stocks with your bank account. All you need to do is transfer your money from one account to another. This process typically take 3 to 5 days, depending on your bank and your broker. Once you fund is clear in your brokerage account, you are free to use that money to trade stocks.