Step three: Do your research
It's vital to thoroughly research any company before buying shares. Ensure you understand what it does, how it makes money, what sets it apart from competitors, its balance sheet, and its profitability. If you're considering investing in a bank, you should also make sure you know how to invest in bank stocks.
Step four: Place your order
When you're ready to buy shares, open the order page on your broker's website and place your trade. You'll need to:
- Determine the number of shares you want to buy (or the amount you plan on investing in fractional shares).
- Enter the correct stock ticker (BK for BNY Mellon).
- Decide whether to place a market order or a limit order (the Motley Fool recommends using market orders).
- Double-check your order page and submit your trade to become a BNY Mellon Shareholder.