How to buy Amazon stock

Find out how to buy Amazon stock with our step-by-step guide – as well as the latest intelligence on whether AMZN is a good investment right now

As a new year gets into full swing, you might be looking to learn how to buy Amazon stock. AMZN has become one of the world’s most sought-after companies, given how it has cemented its reputation as a titan of e-commerce. Innovative subscriptions such as Prime shook up the retail sector by enabling consumers to get items delivered to them within 24 hours – and during the coronavirus pandemic, online shopping levels have surged.

Here, we’ll give you a simple step-by-step guide on how to invest in Amazon shares. These days, platforms such as Currency.com mean that it’s easier than ever to gain exposure to AMZN without suffering punishing brokerage fees.

How to buy Amazon stock without a broker

Check out our simple infographic above for a simple step-by-step guide on how to invest in Amazon stock. If you prefer, you can follow these easy-to-understand instructions below, where we go into a little more detail.

1. Register for an account

First off, you’ll need to sign up for a Currency.com account using your email address. It’s important to set up a secure password that you don’t use anywhere else.

2. Go through the verification process

From here, you’ll need to verify your account and add a payment method if you’re in an eligible country. This process involves providing your full name, date of birth and a photo of an official document such as a passport or driver’s licence.

3. Enter ‘exchange’ mode

Once these formalities are done and dusted, it’s time to continue with learning how to buy Amazon stock. On Currency.com’s online terminal, you’ll see that we have a devoted trading section with distinctive categories where you can check out the most-traded assets, as well as top risers and fallers.

Make sure that you’re in "exchange" mode by clicking on the button at the top of the screen and proceed by searching for Amazon in the search bar. Next, press the "BUY" button.

4. Decide how much stock you want

Many old-fashioned platforms only allow you to buy stocks whole. This can have downsides – especially when it comes to companies with a high share price. AMZN falls into this category.

How much does it cost to buy Amazon stock? Well, because the e-commerce giant hasn’t engaged in stock splits – which help to make the shares more affordable – Amazon had a price tag of $3,200 as of January 2021. For many investors, that can be a lot of money to dedicate to a single stock.

Through Currency.com, you can specify exactly how much of a single AMZN share you would like to buy – whether this is 10 per cent, 25 per cent, or 50 per cent. If you decide to embark on a strategy where you “buy the dips”, and increase your overall position when prices are lower, this will allow you to accumulate a whole Amazon share over time.

5. Set the price at which you would like to buy

When the markets are open on Wall Street, you’ll be able to buy AMZN stock at the price it is currently trading for. You can still place orders outside these hours, but in this scenario it’s worth figuring out the price you would like to purchase the stock for.

A limit order means that your purchase will only be executed when prices have fallen to a particular level. These orders can also remain active for a prolonged period of time, but you can add a date of cancellation if you wish. All that’s left to do is to assess the levels of commission you’ll pay and click the green "Place Limit Order" button. What could be easier?

Is Amazon a good stock to buy?

Trade Amazon.com Inc: AMZN shares price

Amazon.com Inc
Daily change
3398.04
Low: 3389.3
High: 3413.6

As well as learning how to buy Amazon stock, it’s also important to perform research examining whether this amounts to an astute investment.

It is worth noting that AMZN was trading close to record highs in January 2021. The stock had been on an impressive rally since plummeting to lows of $1,626 in March – doubling in price over the space of 10 months.

While some argue that demand for Amazon’s products could take a hit when the coronavirus pandemic is brought under control, others maintain that Covid-19 has resulted in a permanent shift to online shopping that isn’t going to go anywhere.

After humble beginnings as an online bookstore, Amazon has also branched out into a plethora of new areas in recent years. It now has an expansive cloud computing division that is a major contributor to overall revenues. AMZN has also embarked on a series of intriguing acquisitions – snapping up the Twitch streaming platform as well as Whole Foods Market.

Looking ahead to the end of 2021, Mizuho Securities analyst James Lee told clients that he had a buy rating on AMZN and a price target of $4,000, adding:

“As demand starts to shift to grocery and discretionary items, we expect Amazon will be able to meet its goal of accelerating Prime delivery to one day and grocery delivery to several hours.”

Amazon’s dominance is one of the main reasons why analysts think that there’s a good chance of continued price appreciation. However, there may be some clouds on the horizon after it was confirmed that the Democrats will have control of both the Senate and the House of Representatives following the run-off elections in Georgia.

Some strategists are predicting that the Biden administration will attempt to clamp down on big tech – pursuing new regulations and tightening the rules surrounding data privacy. All of this could result in a rather subdued start to 2021 for the tech-heavy Nasdaq index as Wall Street waits to see what his legislative agenda is.

As well as looking at the fundamentals for Amazon stock, technical analysis is also crucial for those who want to find the most opportune moments to gain exposure. Currency.com’s advanced charts allow you to see how AMZN has been trading across multiple timeframes – and don’t forget that we’ll also be offering regular updates on Amazon in our news and features section.

FURTHER READING: Amazon ramps up air fleet with purchase of 11 Boeing 767-300 jets

FURTHER READING: How to find good stocks

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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