How Do I Buy Stocks on Charles Schwab?

Investing in the stock market is easy when you follow a few simple steps. You'll need an individual or joint account at an online broker such as Charles Schwab to buy stocks online. To do this, you will need to understand a few easy steps.

1. Open a Schwab Brokerage Account

You can open a Charles Schwab account online. If you have any outstanding loans with Schwab, it may be best to open your brokerage account first and then call the loan department to see if they will transfer the remaining balance to your new brokerage account.

You'll need to provide personal information such as your name, address and Social Security number during this process (though if you're opening an IRA, all of this information may already be on file).

2. Transfer Funds

You can transfer funds from your bank account, another brokerage account or a Schwab checking account to fund your brokerage account. If you're transferring money from another Schwab brokerage account, the process is similar to opening an IRA:

• You'll need to log in to your existing account
• Select Transfer Funds from the main menu.
• Enter how much money you want to move over and choose which of your accounts will fund this transfer.
• Enter any additional information required (e.g., name and address) before submitting to processing.

3. Find Stock Symbols

To find stock symbols:

• Log into your Schwab account and search for the company by name.
• You can also find stock symbols in the quote section.

Once you have found the symbol of a company you would like to buy, type it into the search field in the top right corner of your screen.

4. Enter Symbols and Quantities

The next step is to enter the symbol of the stock you want and how many shares you want. You'll also be able to set a limit order price or a market order price. If you choose Market, Schwab will attempt to buy at the current market price, however long that may take.

If you choose Limit instead, Schwab will attempt to match your limit order as soon as possible and no later than 10 minutes after entering it — but not before.

5. Check Total Cost

Check the total cost of your order. The fee for buying stock depends on many factors; however, the most important thing to know is that you will know before you submit your order.

If a fee isn't on the screen where you place an order, either call customer service for help to determine whether it has waived certain fees or provide other options.

6. Submit the Order

Once you've filled out the information, click Submit Order. You can see if your information is correct by reviewing your order confirmation and checking that it matches what you entered.

7. Wait for Confirmation

After you submit your order, Charles Schwab will process and execute it within a few seconds. You'll receive confirmation it has filled your order. It will also display your transaction details on your account page, with relevant messages about other activities that may affect your position in the stock.

Contact a Schwab financial representative if you have questions about placing an order or need help finding the right stock.