How Do I Buy Stocks on TD Ameritrade?
If you're in the world of investing or are just looking for a new broker, you may be wondering how TD Ameritrade works. In this post, you'll learn how to open your account and deposit money to buy stocks.
Fill Out an Application
Before buying stocks on TD Ameritrade, fill out an application and have it approved by the brokerage. You can do this in two ways: 1) online, or 2) over the phone.
Provide Personal Details and Relevant Contact Information
Provide some basic information, such as:
- Your name, address, Social Security number and date of birth;
- The names, addresses and Social Security numbers (SSNs) of all household members who will be using the account;
- Any other relevant contact information (e.g., phone number).
Verify Your Identity
Once you've opened an account, your broker will use this information to verify your identity. The brokerage firm will check these documents against its database to confirm that they match the information in its records.
The firm will also ask for proof of address by sending you a letter with unique numbers printed on it for verification purposes. Once everything is verified, it's time to start trading stocks.
Fund Your Account
After the broker approves your application, fund your account with cash or securities from other accounts. Transfer funds to a TD Ameritrade brokerage account using one of several methods: electronic funds transfers (EFT) via ACH, wire transfer or check/draft payments.
Buy Stocks on TD Ameritrade
Enter the stock symbol from the company you want to buy from. Select Buy from the drop-down list and choose between a market order or limit order type. Finally, click on Submit, and your transaction will be processed immediately.
Enter How Many Shares You Want To Purchase
Once on the buy screen, enter how many shares you'd like to purchase in the Shares field. Then click on Place Order. You'll enter the amount of money you want to spend on the transaction and whether to buy all the shares at that price or just a portion.
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