Tuesday, May 21, 2024

Kavan Choksi – How Can You Set Up Your Brokerage Account For Buying Amazon Stocks?

HomeFinanceKavan Choksi - How Can You Set Up Your Brokerage Account For Buying Amazon Stocks?

Amazon was launched in 1994 after Jeff Bezos, its former CEO, decided to establish a marketplace on the Internet for books. Today, in 2022, Amazon indeed has come a very long way, and it is one of the most popular marketplaces across the globe today. In 2022, this iconic name generated over $469.8 billion in revenue, and in 2020, it gave back more than 76% to its investors in the financial trading market. 

Kavan Choksi- gear up for investing in Amazon Stocks

Kavan Choksi is an eminent business and finance expert with proven track record in helping businesses make the most out of their money. According to him, if you do not want to work with a financial advisor, you can invest in Amazon stocks by yourself. However, the first step here is to open an account with a stock trading application or an investment platform online. You first have to open your self-directed brokerage account, which is the first step for buying and selling Amazon stocks. 

Find a brokerage account that suits your style

If you are a beginner and going in to buy Amazon stocks for the first time, choose a platform that corresponds with your preferred patterns of investing. You need to research a bit here and take into consideration the features you would like your account to have. At the same time, you should perform a comparative analysis of the fee structure of different platforms or apps to get one that suits your budget. 

Explore other asset classes 

He states that brokerage accounts give you exposure to other asset classes in the market. This means you can get the opportunity to invest in options, bonds, mutual funds, EFTs, and more. You will need to bear the trading fees on the most credible platforms. However, there are some platforms that give you commission-free trading privileges where every time you exchange investments like options, stocks, and EFTs, you do not have to pay a commission. Platforms also render you the benefits of flexible customer service and support, multiple accounts, investment types, and fractional shares. 

It is simple for anyone to buy Amazon stocks

Since Amazon’s 20-for-1 stock split that occurred in the early part of June this year, the process of directly buying Amazon stocks for retail investors has become much more manageable. When the split was incorporated, the stores at Amazon were immediately trading at $125 for each share; however, recently, they have been trading at $115 each. It is evident that there has been a price drop in the value of Amazon stock. However, this is a trend that several tech companies are facing now. The good news here is you can buy Amazon stocks at affordable rates now. 

Business and finance expert Kavan Choksi recommends opening a joint brokerage account if you want to trade with a partner. However, you should conduct your research carefully for the right trading platform, as some of them do not give you provisions for a joint trading account. 

Amazon stocks are, however, not recommended for investors who are planning to hold them for the long term or people who are near to their retirement. The stock market is highly volatile now, and it is wise to exercise caution when it comes to risks for such traders in the financial markets.

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