How to buy shares on the stock market

Julie Brownlee, Fsp Invest, 03 Sep. 2015

Tags: stock broker, how to buy shares, stock market, how to buy shares on the stock market, how to find a stock broker, how to open an account with a stock broker,

If you want to buy shares on the stock market, you need to open an account with a stock broker.

So why do you need a stock broker? Where can you find one? And how can you open an account?

Read on to find out what you need to know…

Why do you need a stock broker?

To buy and sell shares on the Johannesburg Stock Exchange (JSE), you can’t approach the stock exchange directly. You need to do it through a stock broker.

A South African stock broker is a member of the JSE. The JSE has a number of rules and regulations that a stock broker must adhere to become a member of the exchange.

Where can you find a stock broker?

For a comprehensive list of all the stock brokers which are members of the JSE, you can visit the JSE’s website. There’s a section listing all its members and what they specialise in. You can view this here.

You can look through the different stock brokers and find one suited to you. Most banks also offer stock broking services, so worth looking at your own bank’s offering too.

When selecting a stock broker, the important things to bear in mind are:

  • How much a stock broker requires to open an account;
  • How you trade (over the phone, online or both);
  • The fees and commissions they charge; and
  • Other services you may want to use in the future.

How can you open an account with a stock broker?

Once you decide which stock broker to open an account with, you need to complete an application form. As part of your application, you’ll also need to provide documentation to meet with FICA regulations.

When your stock broker processes your application and does the necessary checks, you can then deposit money into your account and start to buy shares.

So there you have it. How to buy shares on the stock market.

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