Description: The article talks about tf amreitrade login. The article introduces some ways about how to buy a stock on TD Ameritrade and how to set up your account. There are also some notifications you need to notice when you are setting up your account.
Welcome to another presentation brought to you by the finance Explorer. I am Phil and I will walk you through how to build a brokerage account through TD Ameritrade. We picked TD Ameritrade after a little bit of research because it gives you a low-cost way to buy and sell individual stocks. Some of the vanguard don’t let you necessarily buy over-the-counter stocks and we’ll get into that a little bit later.
With their homepage here,you can see they have quite a bit of support. There’s a phone number listed here. There is almost everything you need. It explains the seven dollar fee for transactions. We’ll get into that a little later. To get into setting up your account,what you’re going to need is your social security number,your employer’s address and name and the routing number for your checking account.
You’ll add your contact information then move on to your citizenship. Then we’ll get into what type of account do you want to open. For most people,you’re going to do the individual. There’s a Roth IRA. There’s rollover IRA. There’s trusts. There are all kinds of different accounts that you want to do.
All of them are accessible from here. If you would like a joint account you can select one of those to add a spouse. If you’re doing a retirement you have traditional IRA,Roth IRA,rollover IRA all kinds of IRAs,you can check on our site www the finance Explorer.com for more information on these. We built a 529 through Vanguard. You can go ahead and check that out too.
That is also on our site. Now this last one here for business and Trust is for completion sake. We will pick the individual. It’s going to give you the option to select more of these. These are asking what you intend to do with your account,whether you want to buy and sell stocks,whether you want to get into options forex or futures or you’re not sure. We recommend buying and selling stocks forex,futures option. Here we have more personal information. It’s fairly simple and self-explanatory.
If you need any help,these green little arrows allow you to do so. There are some more boxes and dropdowns to add annual income,net worth,liquid,net worth. The difference here is net worth is the total amount of work that you would have including houses other real estate cars. Liquid net worth would be easily accessible money such as stocks that you would have access to terms of money quickly excluding houses and cars and so on. They’re a little tricky. That is up to you.
That can factor in here. You need to make sure that you have those facts in front of you. Once that’s all set,you’ll confirm all of your information. You’ll have a chance to edit that. Almost everything you’ve answered will show up. It’s fairly lengthy. You’ll have your client agreement,your account handbook,business plan. You need to make sure that they know what you’re doing at this point. If you have any questions about anything on this page,their home page has a phone number you can call that and you can have anything answered.
Here are a couple of drop down boxes I had opened. These are interesting you can read through them if you need. Here we have the IRS,w-9 tax form. This is absolutely riveting stuff. You can read through this to make sure you’re selecting the correct box. These are painless. Then you can get to create your login. This is fairly similar like any other login. You’ll have your user ID and password,then four or five questions to answer. There will be specific to you. That’s for that area.
Next we will have funding your account. This is fairly simple. We recommend Express funding. You can also do checks. There are several methods here. We can choose an option to fund later. We recommend either Express funding or the check. If you are in fact going to write them a check,here’s where you make it. There is another information.
To set up your account,here’s where that routing number comes in. Having your checkbook on hand will be useful for this part. Once you happen to be one of those people that have every number associated to them memorized,it’s crazy. Then you’re going to punch in your bank. Whether it’s checking your savings,you’ll go through a little bit more and confirm all of your information. Here we have a bit of an important slide. Here are margins and options. We can select do a cash account only.
That’s what we’re going to cover and talk about. Margins or privileges that allow you to borrow money to cover a portion of your trade. For instance if you want to buy something for $2,000 and you have $1,500,you can get a loan for that missing money.
But there’s risk involved there. Options trading is contracts. That give the owner the right but not the obligation to buy or sell assets at a specific price. They’re a little confusing. We’re not going to mess with them. So we suggest cash account only. There’s the margin disclosure and everything you need to know about that. Then you need to describe your expertise when it comes to trading. So that’s why we’re here and we’re learning. This is great. You can go through and check whatever you like.
I think a lot of this are optional. Next they give you the option to select electronic or paper statements. You need to always select electronics that call somewhere to get paper. Here’s another important slide. You can also essentially turn your TD Ameritrade account into almost a account like you would use at your bank. By selecting these boxes here,if you only want to use stocks and everything and want to limit yourself,we can select unselected all of these. You’ll see that all selected turn green. None is gray.
There’s more information you can click through. This is your investor profile. A lot of this gives them information of what you know and what to expect. This is optional. You don’t need to go through it. There is quite a bit of it. You can select all things you might be interested in and they’ll send you your information. That’s how you set everything up.
That’s the application. When you’re done,your account will look something like this. We’ll have a little tutorial video of what to show. You can see this entire right side with the top part says Yahoo Finance news. You can close all those advertisements out with a little green X in the upper right hand corner. It will give you your account overview. That’s nice. So now what we’re going to do is to show you how to execute a buy of stock. What you’re going to do is that you’re going to select the trade box up here at the top. You’re going to locate with the red arrow here out of the bind sell stocks and ETFs.
You’re going to come to this next page which will give you the symbol lookup. What you want to do here is that you need to put in whatever you happen to look for. If you are looking up Apple,now you can spell out the word Apple like I did here and you’ll get several options.
If you’re not sure what you’re looking for or you know what the company name is but you’re not sure what the symbol or the ticker is,those two words are synonymous. You’ll see down here I have it marked with the red arrow AAPL. That is the ticker for Apple that makes the phones and the computers. Now this tells you where the stock is exchanged and where it’s traded.
You will see that Apple is on the Nasdaq. You will see other things here such as OTC pink. What that means? It is over the counter pink slip. That is a penny stock. Some brokerage accounts won’t let you buy them. For all of the research I’ve done,you will be able to buy them through TD Ameritrade. In order to operation here to buy a stock,you need to select the one that you would want. In this example we’re using Apple. Now this first one I’m using is a limit order.
With the limit order,this indicates the highest price you’re willing to pay for a security. On that note we are looking at the Apple price here in the red box. It says one forty four point zero two. Now we can compare that to the price that I set at one forty two zero zero,it means this stock will not be bought until that price of one forty two is reached. Additionally we have the blue box here that shows a good till cancel.
This is a date that you can set to let that order price run until that date expires. Either two things will happen. The price will fall down and you will buy your stock at that price or the order will be canceled at this date. Now you can compare that to a market order. A market order is going to allow you to buy a stock at that specific price at that specific time as soon as possible. The Ted note here is to specify what goes on here. Some market orders are not available in some markets.
For instance pink securities and OTCs may or may not have enough demand to move a market order. There is an extra little note to keep in the back of your head. Here we have the days extended hours. These are here for completion sake. You can select one say that you would like to set a limit order for good till cancel. We’ve already been over that. This gives you the option to check good till cancel plus extended hours and other little intricacies like that.
Once you set your order and you’ve got your price or your amount or whichever,you will then come to a review to your order screen. I have two orders that we were talking about here to compare side by side. The top one is the market order. You will see that the estimated price with the large red arrow says 287. That’s because we were buying that at a slightly higher price. The one below was the limit order and a limit order was $2 below the price. If that were to go into effect,you would see that this price will be lower. This is a strategy we use at the finance Explorer to build our cost basis.
A lot of our buys personally are used through the limit order. That’s not to say you can’t do both. If you’ve been watching stock and you see a drop all of a sudden and you have money you’re waiting to go and you’re not worried about the absolute price to the penny,you can do a market order. That’s fine. I bought a market order of AT&T a couple of days ago with the market order. It’s how you buy a stock.
There are a lot of Ted notes that I thought I should include. These are what the site say these orders are. You can read through these. If you have any questions,feel free to comment or ask TD Ameritrade themselves through their own phone numbers provided. That is how to buy a stock on TD Ameritrade and how to set up your account. Everything should be all set.