This is a complete step by step guide for beginners to buy Google stock. We will look at the top online stock brokers to buy Google stock. How to choose them and what factors to look at to select one.
There are hundreds of online brokerage firms out there. But, not everyone is the right fit for you. We will look at all the aspects and steps to buy Google stock through the best online stock broker.
Step 1: Choose an Online Broker to Buy Google Stock
To buy Google stock, you need to choose the right broker. There are hundreds of brokers who provide online trading services to buy and sell stocks. Including Merrill Edge, TD Ameritrade, TradeStation, Interactive Brokers, Etrade, Charles Schwab, Fidelity, and Vanguard.
There are many factors that you need to consider to select an online stockbroker. First, If their brokerage services are available in your country. Also, whether the site has google stock to buy.
Also, confirm if they charge online trade commission, brokerage fees, or any other transaction fee. Some online discount brokerage platforms charge no brokerage fees on trades, cutting your cost of trading.
Once you confirm this, look for other factors. Like how easy and quick is it to register on the site. To start trading online you might need to complete KYC.
Consider this as some sites take time to complete KYC. Besides, look for the payment modes on the site. You need to confirm the mode of payment for deposits on the site.
You can buy Google stock with a credit card, bank transfer, Skrill to name a few. Also, you should consider the ways on-site to withdraw money from your account.
After you confirm this, look at the user reviews on the sites UX. Also, if you can use their online trading platform for both web and mobile trading. If the have basic and advanced trading platforms. Besides, the sites security and 24×7 support is an important factor.
IQ Option is a good choice to buy Google stock. They are also the winner of the best brokers for beginners to buy or sell stock in our review. You can also trade CFDs on Forex, Options, and ETFs on IQ Option.
It is quite easy to start a trading account on IQ Option. All you need is a name, email id, and password to create an account. Besides, depositing money could take another few minutes.
Now, you are ready to buy and sell Google stocks on IQ Option.
The whole process should take about 5 minutes. But, you need to complete KYC to withdraw money from your account. Keeping KYC not mandatory to buy make it fast and easy to buy stock.
But, it is better to complete the process before you start buying. This will help avoid the risk of any hiccups in the KYC process later.
You can deposit money to your account with cards, wire transfer, and e-wallets. Also, withdraw money using the same mode of payments. But, wire transfer for withdrawal is available only for large amounts. They have a low minimum deposit of $10.
The platform is easy to use and has features for both beginners and experts. It is available on the web, desktop, and mobile devices.
Step 2: Open an Account
Once you have the best broker to buy Google stock, register a brokerage account. Sign up on most sites are quick and easy.
You will need your name, email and password to create an account. Try to keep your email and password fresh and different from your other ids. After that, you will have to verify your email and/or phone number.
But, with some discount brokers, you might need to provide details for KYC during sign up. This might delay you from using the account right then.
KYC process could take some time to complete on many sites. But, most sites let you start buying stocks online right after you sign up. You will have a window to complete KYC before you withdraw your funds.
It is good to enable 2FA on your account if the broker has that option. This will help you secure your account better.
Step 3: Complete KYC Requirements
You need to complete KYC after you have signed up on the site. Most brokers let you buy Google stock before completing KYC. But, with some, you need to complete KYC to use their trading platforms.
All websites will make sure to collect KYC details as part of the AML rules. Most websites need it for you to withdraw your funds. So, it is better to do KYC right after you register. This will avoid any issues you can face after loading funds to your account.
You will have to submit IDs issued by your country. Common ones accepted are passport and driving license.
Also, you might need to provide a document as address proof. This can be the ones mentioned before or a bank-account statement or utility bill.
In some cases, you might need to provide a photo. It can take from minutes to days depending on brokers to verify KYC.
Step 4: Learn How to Trade, The Market, and Google Stock
Before you buy Google stock or any stock for that matter, learn the market. Knowing why a stock price has volatility is crucial.
There are many factors that affect the stock price. You should spend some time to learn that before you buy a stock.
First, you need to learn about Google. Understand Google as a company, know their products and services. The success of a company relates to its stock price.
The more people use their product and the more profit they make, the better. This takes us to the part of learning and monitoring the market. Changes in market conditions and competition can affect the stock price.
Besides, you need to watch the changes in laws that could affect the business. Also, external factors like a war or a trade deal can affect the stock price. Keep a close eye so that you don’t lose out on the price actions.
Step 5: Practice with Demo Account
Many online stockbrokers offer a demo account to practice. Before you buy Google stock or start trading, you can try on a demo virtual trading account.
Most of the demo trading accounts have the same look and feel like the real account. Also, the stock trades you make here are as real as the stock traded on the live market.
The only difference is that the fund on traders account is not real. You can replenish the funds as and when required. This helps you practice as many times and as long as you want.
All beginners should learn to trade stocks on the demo before a real trade online. Also, when you learn to trade on a demo, learn to read the charts and candles.
You can get a lot of insights on a stock price by charting. There are many resources online to teach you how to read charts. You can take this learning and tryout on the demo account first.
Step 6: Learn to Trade with Caution
The most important thing in trading is to master the skill of patience. Beginners tend to fall into the fear of missing out. A lot of them start investing money beyond their means.
You should never invest money that you don’t have and that you can’t afford to lose. Always align your investment strategy and investment choices to your funds available. Only take investment advice from trusted people or sources.
It is good for beginners to avoid buying stocks with a credit card. Chances are you tend to buy more if you have a credit facility.
You might feel google stock is a good buy and can make a profit. But, the price of google stock could go the other way as well. Stock market prices are subject to many factors.
If it moves against you, the trader calculation, you can end up losing all your money. This could put is in bad debt positions. To avoid this you should never try to invest more than you can.
Also, try your skills on a practice account before you start trading stocks.
Step 7: Confirm Withdrawal Methods
You should confirm the methods to withdraw your funds before you buy stock.
There are many modes of payments to take money out of your account. But, you need to confirm if it works for you or in your country.
Wire transfer is one popular way to withdraw money. But, limited to large amounts in most sites.
Another option is to use an e-wallet. Online brokers today have many e-wallets like Skrill or PayPal on their site.
Also, some sites let you withdraw money back to your debit or credit card. This is only for a limited period after you make the deposit. Also, you can withdraw only up to the amount you deposited. For everything more, you need to use other modes of payment.
As important as confirming if the mode is right for you is the fees. Some brokers and their payment processors charge fees for withdrawal.
Step 8: Deposit Your Funds
There are many ways you can deposit money into your online share trading account.
First, using a debit or credit card. This is quite popular as it is quick and easy to load money to your account balance. Online trading brokers accept cards using their own or third-party services. So, you should confirm the fees charged by payment processors. 2.5% is an average fee charged by brokers today.
Another way is to use e-wallets like Skrill or PayPal. Here, the online broker might not charge you fees. But, the payment processor can. Do confirm before you deposit the money.
Also, these brokers accept wire transfer to deposit money. In some cases, this could take time to process. Most deposits through banks are free. But, some sites might charge you a deposit fee.
Also, a handful of online stock brokers accepts digital currencies for deposits.
Many sites offer zero-fee deposits.
Step 9: Find the Best Price to Buy Google Stock
Once you have deposited money, wait for the right price to buy Google stock. In market terms its called an entry point to buy stocks.
Most beginners tend to buy a stock at the price it is available that day. Unless you are sure the price is going up, do not buy at market price. There are different ways for you to know the right price to buy Google stock.
First, look at the historical prices of Google stock. Also, learn to read charts. This could give you insights to some extent on the future price.
Besides, there are hundreds of resources online for you to find the right price. Follow analysts and chart readers online to get inputs for your research.
If you feel the price could come down, be patient, and wait for the right moment.
Step 10: Buy Google Stock And Track Your Position
Buy Google stock once you have completed the above steps. Find a good broker, learn to trade, find the right entry point, and buy google stock.
Many platform let you buy google stock in small amounts to start. Make use of this and start small. Build your portfolio once you have learned more about Google stock and the market.
Also, it is good to spread your investment across many stocks. You could spread your funds across popular stocks. Beginners can buy apple stock, amazon stock, and tesla stock to name a few. This will help you spread out your risk.
Besides, once you have bought Google stock, watch your position. Watch the stock, the market, and any other factor that might influence its price. You should at any given time be ready to reposition your holdings.
Meanwhile, try out alternatives to your current move on the demo account. This will help you improve your online stock trading skills.
Should I Buy Google Stock Now?
Google is a name the world use as a synonym to search online. With over 3 billion searches every day, Google is the king of search engines.
Also, it has many other successful products under the Alphabet Inc. YouTube, Gmail, Android, and App Engine to name a few.
This converts to billions in ad revenue. Besides, they have many products that are growing and capturing market share. Also, they have a research wing to create and launch new products to the market.
Google’s search and other products are here to stay for a while. This makes Google stock a good fit for investors in their portfolio.
Analyst and market experts expect the stock to grow more in the coming years. In 2004 Google stock launched at a price of $50. Today Google stock price stands close to $1500.
Google stock trade in the symbol GOOG and GOOGL with the name Alphabet Inc in NASDAQ. GOOGL is A share where the shareholder gets a vote per share. But, GOOG is a C share that gives no voting right to shareholders. Also, there is a B share that the Co-founders, chairman, and few directors hold.