How Do You Purchase Stocks Without A Broker?
While the commissions charged on purchasing shares of stock have reduced drastically through years, there is another little known alternative to purchasing stock that many people rarely utilize. It is called a direct stock purchase plan or DSP. You can purchase the stock directly from the company through automated clearing house (ACH) transactions or by sending in a check to cover the costs. Each company has a clearing agent that handles these transactions. Most have a minimum initial deposit but are happy to waive it if you agree to automatic monthly withdrawals from your checking or savings account. Decide which stocks you would like to purchase directly from the company. There are over 1,700 companies that offer direct stock purchase plans. These plans are usually administered by companies other than the company itself. Look at the companies’ stock purchase plans they offer. Some companies will permit you to enroll online, while others require you filling out the paperwork and maili
