Welcome to National Bank Direct Brokerage and thank you for joining
us to learn how to place a buy order on our trading platform. Once
signed in you will notice four buttons on the right-hand side of the
page, one of which is the buy button. Please note that they will
always be present regardless of which section you navigate to.
By clicking on the buy button a trade ticket will appear, let’s take
a few moments to look over the trade ticket. We can change it to sell
from buy, we can select the account that we wish to make the purchase
in. Once selected the cash balance is now shown and in our case this
is a margin account. We also have the buying power as well.
The default setting for the type of investment is stocks and etfs
but from the same trade ticket you can also trade investment funds
previously known as mutual funds, options and fixed income securities
The next step is to type in the name or symbol of the security you
want to purchase for our example we will select National Bank of
Canada symbol NA and once selected you will notice that the trade
ticket has become a lot more active. I now have a full name and symbol
and the flag before the symbol shows you the security trades on a
canadian or u.s exchange.
On the right hand side of the trade ticket we have a real-time quote
with the bid and ask price and number of shares available at that
price and other useful information that can be refreshed by clicking
here. Now the next step is to indicate the quantity which will be one share.
NBDB clients can also select the condensed version of the trade
ticket by clicking on the double arrows shown here. One advantage of
this view is that you can continue to navigate throughout the platform
while having the trade ticket open. Also by clicking here you can
minimize it as well to free up additional space.
Now if you wish to go back to the default view simply click on the
double arrows again. Going back to our transaction the next step is to
select the price type clients of National Bank Direct Brokerage have
three options. The two most commonly used are market and limit orders.
Let's begin with limit order or limit price which allows the
investor to specify the maximum price that they are willing to pay to
purchase the security. In other words, you want to purchase a security
at a price that is less than the current price. This also means that
there is a chance your order may not go through if the security
doesn't reach your price.
Let's go ahead with our example, currently National Bank is trading
at about 90 dollars but let's say that 87 is the max price that I want
to pay. In the limit box i'll type in 87 and then i'd need to select
how long the order is good till, by default it's a day order but I can
select a specific date up to 60 days out.
Click on the calendar icon to select your date then submit the
order. A new screen will then pop up called order summary which will
give you a second chance to review the order. On the right hand side
you'll notice that the approximate transaction value is shown and our
zero commission pricing.
If everything is correct, then the last step is to click on confirm
and send order. If actually sent the order will remain open until it's
filled or will expire if the price isn't reached now let's go back to
our trade ticket so we can place a market order.
This time the price type will be at market a market order means you
want to purchase your stock right away at the current market price.
Click on submit and we are now in the order summary which we've
already viewed. If no changes are required, then we simply click on
confirm and send order. We are now in the current orders window and
here we have our order that has been filled and at which price.
Let's also go to our account holding section where we can see that
our one share is now included in the portfolio. This concludes our
video on how to make your first purchase with National Bank Direct
Brokerage for any additional information please view our other youtube
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