How to Buy Stocks Online Without a Broker in 2 Methods

Are you sure to try how to buy stocks online without a broker? It does not matter if you want to try it so you can compare it with using the broker. Anything you like, the most important thing is you should be careful. Do not need to forget the fluctuating character in penny stock. Nature makes this stock is very high risk. In this post, you will read two methods to buy stocks online without a broker.  You must learn both properly and use them according to your desire.

First Method: 3 Steps How to Buy Stocks Online Without a Broker

All this time, some investors like relying on online brokerage to trade penny stocks. They usually use Robinhood, Charles Schwab, Fidelity, TD Ameritrade, E-Trade, TradeStation, or Interactive Broker as their mainstay broker. 

However, those brokerages make the traders spend some money to pay although the payment is not too high. 

Seemly, the idea to buy without using the broker is more advantageous. Is it true? Let's see from the first method through 3 following tricks:

1. Use a special gifting service to acquire a single share

how to buy stocks online without a broker in the philippines

Buying a single share of stock can use the companies that allow you to do it. Usually, the company will require to enroll in closed direct stock purchase plans or dividend reinvestment plans. 

Unluckily, this one of 3 ways to buy online stocks without a broker does not work fully. You keep needing a broker to do although it does not dominate your trading. 

Nonetheless, there is one solution to reach your aim with getting the child or other recipients of the equity. It implies you can buy stock without a broker but only in a particular business.

2. Getting additional shares to your holdings by taking advantage of the dividend reinvestment program

Besides using the first trick, enroll in a stock’s DIRP includes the next best way to buy stock without a broker too. DIRPs is the dividend reinvestment program existing in the linked story. 

The function is to revisit and makes you understand the appeal. By enrolling in the stock's DIRP, you can take cash dividends paid out. 

You will do it through your company and then plow them back into buying more shares. This program itself DIRPs has specifics individual plans for either nominal fees or nothing at all.

Numerous long-term investors have applied this second trick for years, even decades.

3. Company’s direct stock

how do i buy stocks online without a broker

For your information, this last tip is often the easiest in the way the priors. The program which is well-known as a DSPP, or Direct Stock Purchase Plan lets smaller investors buy ownership directly from the company. 

By the way, the direct stock purchasing works through a transfer agent or plan administrator responsible. Those methods will deal with day-to-day paperwork and transactions.

To buy stock without a broker, the investors must check or savings account every month for six months. It often takes off $50 as the acceptable minimum or makes a one-time purchase, often $250 or $500.

Well, some direct stock purchase plans execute trades commission-free and the rests charge small transaction fees. The traders spend frequently $1 or $2 plus a few cents per share. 

Besides that, there is $15 payments for each purchase and a larger fee, a few cents per share, and for a sale. It turns out the cost is lower than you pay at a full-service broker.

Method 2: How to Buy Stocks Online Without a Broker in 4 Steps

In the second part, this page presents 4 steps to buy penny stocks without a broker. Even though, you should understand penny stocks that you will buy later. 

You must be aware of the benefits of purchasing the stock. Then, you must always be careful toward the downside cost where it may make you disadvantage. Afterward, you determine the penny stock that is suitable for your planning.

If you have understood this type of stock, you continue to know how to stocks online without a broker at the following steps:

1. Find out details information on the company that you want to buy the stock
Many sources have supported your intention to investigate the company and get detailed information on it. You may use Google, Yahoo, OTC Bulletin Board, and others. 

If you want to get A good penny stock, find out the company making an initial public offering (IPO). It is a company's first move into public ownership. So, prepare to read the company's prospectus before making an offer.

2. Beware toward the fraud
Next, you must always be careful toward the fraud which is so many. Between the original and the fake companies are quite difficult to differentiate. However, you can acquire a fraud company if it gives a big promotion. Instead, it does not include the big company.  

3. Open account
It turns out you still need the online broker in this case. The online broker such as what you read above just to open your account.

4. It is time to purchase and trade
Make sure you have perceived the mechanics and risks before buying the stocks. After that, you can begin to trade. Here, the stock usually offers a limit order or market order.

how do i buy stocks online without a broker

To get a profit, you as the trader have to earn the solid stock at a good price. Next, keep the consistency of the tabs on your stock price.

Do not forget that penny stock is more suitable for the short-term and reliable in long-term speculative plays. The stock is very difficult to consistently accumulate wealth. So, never use it to complete your retirement portfolio.

Okay, those are two methods on how to buy stocks online without a broker. It turns out you can apart from the broker 100% although the function is not the same. On the other hand, you can combine those methods to reach the perfectness of the trading. If you are aware, it not only discusses the way to buy. Nevertheless, it talks about things before purchasing and tips to make a profit. So, be sure!
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