Buying stock shares question?

Question

I'm not sure if this how it works please correct me, so now i want to buy share of stocks by using online brokerage firm lets say one share cost $10 per share now i want to buy 100 share which is $1000 dollars, do i need to deposit exactly $1000 + commissioner fee or do i need to to deposit more money

Answer 1

The price could easily change before you're ready to trade. I would put an additional 10% above what you expect just in case, and to cover any broker fees that are unexpected or part of managing the account.

It doesn't sound like you are diversifying very well if you plan to trade only one stock (you may be very disappointed with the results): http://www.investopedia.com/terms/d/dive...

Answer 2

nope, that is just it. Try Scott trade.

Answer 3

Many discount brokers have a minimum amount to open an account which could be less, but may be more than your $1000.  You have to fill out forms, and then put money in the account and then after the funds are "cleared," which may take days, you can trade. Margin accounts often have higher starting minimums, and if you are a beginner, I would avoid margin. You will get no diversification this way (as already pointed out) and I would think you would be better off in a no-load, low cost, index mutual fund.

Answer 4

You have to deposit the total net amount of the purchase,

The 1,000 for the stock purchase and total amount of the commission which all total the net amount

You should have this money deposited as soon as possible and not later that the close of business on the settlement date of the trade.

Answer 5

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Answer 6

if you buy it at 10 bucks a share but yeah that is how it goes.

Answer 7

Depending upon your credit, you may only need to deposit a portion of the amount needed.  You then buy the unfunded amount "on margin" which is basically a loan given to you by the broker (with interest of course).  Or you can deposit the whole amount plus commission (and maybe a bit extra in case the share price goes up while you are placing your order).

Be careful of the account charges which can slowly leak cash out of your account if your stocks do not appreciate.  If you have a safe place to keep them, see if the brokerage will send you the actual share certificates instead of opening a holding account.  The down side to this is it may take longer to sell them, since you will have to go to a brokerage to sell them instead of making a phone call.