How to Buy BlackBerry (BB) Stock

You can choose from plenty of trusted online brokers. Online brokers let you trade a range of financial products such as stocks, options, futures and mutual funds. Many online brokers allow you to trade stocks commission-free. You can also trade stocks on the move using its mobile app for iOS and Android. 

You can find a rundown of the best brokers on the market below.

Depending on your trading strategy, you can decide the number of shares you want to buy. For instance, let’s say BlackBerry is currently trading at $15.52 and you want to invest $1,000 in the mobile company. You can buy up to 64 shares of BlackBerry. 

Online brokers let you choose between a broad range of order types to execute your trade. 
Bid
The price of a stock constantly fluctuates on the stock market. A bid or a bid price is the highest amount of money a buyer is willing to pay for the stock. If BlackBerry trades at $15.52, you can set the bid price to $14. As soon the market price of BlackBerry falls to $14, your order will execute. 
Ask
The ask price is the lowest amount of money a seller is willing to sell his shares. For example, let’s say BlackBerry is currently priced at $15.52. You can set the ask price for $16. As soon as the market price of BlackBerry rises to $16, your order will automatically get executed. 
Spread
The difference between the bid and ask price of a stock is called the spread. If the bid price of BlackBerry is $14 and the ask price is $16, the spread is $2. Stocks with high liquidity have abundant buyers and sellers on the market. As a result, the spread tends to get tighter. 
Similarly, stocks with low liquidity have fewer buyers and sellers on the market. Hence, the spread tends to get broader. In such cases, you might find it a challenge to trade stocks at your preferred price. 
Limit Order
You can buy and sell your stocks for a specific price with a limit order. You can assign your preferred price for a buy order and it will get executed when the stock price drops to that value or lower. Alternatively, you can assign a price for a sell order and it will get executed when the stock price reaches that value or a higher price. 
Market Order
You can instantly buy or sell a stock with a market order. Unlike a limit order, a market order is guaranteed to get executed. However, you might not get to trade the stock at your preferred price. 
Stop-Loss Order
You can limit your losses on a stock trade with a stop-loss order. For example, if the stock price of BlackBerry is $15.52, you can set a stop-loss value of $13. When the stock price reaches $13, it will automatically turn into a limit order and execute. A stop-loss order can potentially save you a lot of money if the stock price takes a plunge during market swings. 
Stop-Limit Order
A stop-limit order is similar to a stop-loss order. You have to assign 2 values for a stop-limit order — a stop-loss value and a limit value. For instance, if BlackBerry trades at $15.52, you can assign a stop-loss value of $11 and a limit value of $13. The order will not get executed when the stock price falls to $13. It will instead get turned into a market order and trade at any price between $13-$11. 

Once you’ve decided on the number of shares you want to buy and the order type, you can execute it on the online broker. It might take a few minutes for the shares you have traded to reflect in your portfolio.