According to statistics published on American analytics and advisory company Gallup, 58 percent of Americans report they own stocks. With this figure, are you not going to join the bandwagon?

Aside from the fact that they need the money from stocks, investors buy stocks for various reasons. These include:

If those reasons have still not inspired you to participate in this kind of trading, we are here to offer you more insights about this topic. In this article, you will learn how to buy stocks, and a tool that can help you win big in this type of investment.

6 Ways On How To Perform The Right Stock Trading, From Opening A Brokerage Account To Building Your Portfolio: How Do You Actually Buy Shares Of Stock?

Let's say you have finally decided to invest in the stock market, and you even have ideas on which stocks you want to buy. But how do you actually buy those shares?

Know this: the process of purchasing your first shares of stocks online is generally quick and easy. Here is a step-by-step guide to kicking off your stock investing journey.

First Step: Open A Brokerage Account

First and foremost, what you will need is a brokerage account to buy stock. This account with an online broker is going to help you along the way. Consider two main factors when choosing an Internet stock brokerage or creating an account online:

Most major online brokerages, like Charles Schwab, TD Ameritrade, and quite a few more, have recently removed trading commissions, thus, largely taking the cost out of the equation when selecting a brokerage platform.

Once you have selected a brokerage, you will have to complete a new account application. This is usually just quick and easy, but you will need to have your photo identification handy, such as your Social Security number or your driver's license. Plus, you will need your bank information should you wish to fund your new brokerage account using your checking or savings account. You can prefer to open a standard brokerage account, or, instead, establish an individual retirement account or IRA. The latter confers some really nice tax benefits.

Another decision you could face is whether to establish margin privilege for your new brokerage account. Having this enables you to buy stocks with money borrowed from your brokerage. While investing this way is generally not a good option, establishing margin privilege could confer some other benefits. For instance, with margin privilege, you can start trading in your brokerage account before your deposit funds have learned.

Second Step: Decide Which Stocks You Want To Buy

Without going too far into the many possible ways of analyzing and selecting individual stocks to buy, the next step here is to determine which stocks you would like to buy. Here are some pointers:

Also, be certain you are up-to-date with the latest articles about which stocks to buy and how to invest in the stock market.

Third Step: Decide How Many Shares You Wish To Buy

To find out how many shares you must purchase, first decide how much money you want to invest in each stock that piques your interest, and then divide this amount by the current share price of the stock. You can find stock prices on the platform of your brokerage by looking for either the stock's ticker symbol or the company name.

If your brokerage trades financial shares, you can buy any dollar amount of a stock, no matter what its share price is. Several brokerages do not buy or sell fractional shares, so in this case, you will need to round off to the nearest whole number of shares to determine how many you could purchase.

Here's an example. Suppose you wish to invest $1,000 in Microsoft. You check the company's share price and find it is $149.50. Divided your investment money by this share price tells you that you can purchase up to 6.7 shares. Assuming your brokerage does not trade fractional shares, you would buy six shares of Microsoft stock.

Fourth Step: Select An Order Type

Various order types are present for stock purchases. The type of order you place to buy stock specifies the occurrences and conditions under which you want your broker to transact on your behalf. Placing a "market order" that instructs your broker to buy the stock immediately and at the best price available is typically the best order type for investors of the buy-and-hold kind.

Yet, you may instead want to place a "limit order," indicating to your broker the maximum stock price you are willing to pay.

For instance, if a stock is currently trading for $20.50 per share, and you want to buy this only when the price is less than $20, you would place a limit order. Your broker will only transact in your name if the price of the stock dips below $20. Understood?

Fifth Step: Place Your stock order With The Brokerage

To place a stock order, access the particular section on your brokerage's platform and enter the required details. Your brokerage will usually ask for the company or stock ticker name, whether you want to buy or sell shares, and how many shares you want or the dollar amount.

Once you tap the "place order" button, your stock purchase will be executed shortly (if the order type is a market order). Your portfolio will then be updated to reflect your ownership of the newly bought shares.

Sixth Step: Build Your Investment Portfolio

The last step in the process is building your investment portfolio. Now that you have a brokerage account and are informed of the basics of how you can buy and sell stocks, you can keep adding money to that brokerage account of yours and investing in stocks you would like to own for the years to come.

Want To Buy Stocks And Expand Your Stock Portfolio? Try FixyTrade

FixyTrade is a go-to platform and automated trading journal that lets you reach your trading goals. This tool imports your trades from over 340 brokerages. Then, it analyzes that data to generate real-time reports concerning your trading performance.

This platform also offers visualization tools and hundreds of other features to help enhance your trading performance over time.

FixyTrade integrates with the world's preferred brokers and trading platforms, such as MetaTrader, XTB, ProRealTime, FxPro, and so much more.

You can try this tool for free, or avail of the priced plans to enjoy more of its features. The Pro option is $29 per month for the Monthly option and $19 per month billed annually for the Yearly option. Then, there's the Premium option at $50 per month for the Monthly tier and $39 per month billed annually for the Yearly tier.

The Easiest Way To Buy Stocks Is To Arm Yourself With The Right Tools: Features Of FixyTrade

Here are the outstanding features of FixyTrade:

Now That You Have Learned The Way To Buy Stocks And A Tool To Allow You To Buy Stocks Efficiently, Let's Answer Some Quora Questions On The Stock Exchange And More

We are here to clear your doubts about this kind of investment. Thus, take a look at these questions from Quora with answers to make sure the stocks you're looking to purchase are a good buy. Read on.

1. Which App For Stock Portfolio And Analysis Is The Best?

If you are looking for the best app for stock portfolio and analysis, you can check out Personal Capital. However, we also recommend that you take a look at FixyTrade (though it does not have an app yet), an online automated trading journal.

With FixyTrade, you can import and synchronize your trades from several brokerages in real-time. It also provides access to in-depth analytics and a handy trading score to guide you toward profit-making.

2. How Do I Get Started Building A Stock Portfolio?

To get started building your stock portfolio, follow these steps. First, find out your appropriate asset allocation. Second, achieve your portfolio. Third, reassess the portfolio weightings. Lastly, rebalance strategically.

To Trade Stocks Is A Good Investment: Time To Buy Stocks Today

Learning how to buy stocks is not an overnight process. If you want to really get involved in stocks to your portfolio and earn a little bit of money in the stock market, sometimes, the most popular ways that people take is to talk to many online brokers, negotiate directly from the company picking stocks, connect with brokerage services, use a trading app, or talk to an advisor or financial advisor to open an account regarding your investment.

There are several questions people may have regarding this kind of investment. Some of these questions about this type of investment include whether direct stock or direct stock purchase plan is a good option, whether to buy stocks online is a nice way to take, and what are the stocks that don't earn much.

More questions from those looking to get started buying stocks are which broker to buy stocks from, whether starting an account with an online stock brokerage is recommended, whether growth stocks are a great option, how to buy and sell shares, what type of online brokerage account is recommended, whether they should use stock screeners, where to buy or sell particular stocks, what the share prices of stocks are, what the best time to sell your stocks is, what the pricey stocks are, and whether to buy stock directly from certain public companies that offer this, among many others. The list of questions seems to be endless.

Moreover, stocks may fluctuate from time to time, and stock never is a perfect system. Buying stocks is when you need to prepare yourself for challenges. Still, stock is trading, more or less. Stock never reaches a point where everything is utopian. Yet, having said all these, buying stocks is a great investment. One stock can change your wealth portfolio.

As a final thought, while it is tempting to track the performance of your tasks on a daily basis (especially when you are still a beginner buying your first stock), at the end of the day, what is important is to keep a long-term mindset.

Definitely, you should keep updated with news on each of the companies in which you hold stock. And if your stocks' prices somewhat decline (knock on wood), avoid selling in a panic. Plus, if your stocks' prices rise by a few dollars, remember to fight the urge to cash out.

The best (and the easiest) way to create wealth over time is to buy shares or part with the shares of great companies and keep them for as long as these companies remain great.

Overall, the money you should invest in stocks should be well-thought.