How to Buy Zynga Stock (ZNGA)

There’s no shortage of online brokers to choose from, but Benzinga maintains a comprehensive list of the top trusted players.

An online broker lets you trade stocks and other securities. While most brokerages will let you trade commission-free, others charge higher commissions to facilitate the execution of your trades. Opening and funding a trading account online is simple. But that’s just the tip of the iceberg — you’ll want more from your online broker.

For starters, consider the account minimums. Some platforms have no minimum balance requirements, while others have higher account minimums. Some may hit you with a penalty for not maintaining your account minimum. Assess the account minimum requirements, and choose a broker you can work with.

Think about how you want to execute your trades. If you spend most of your time at your desk, find a brokerage with a web-based or desktop platform. If you prefer trading with a single tap, look for a brokerage with a mobile app. User experience is crucial, and most online brokers design trading platforms to streamline your investment process.

Sure, you want to start trading ZNGA stock today, but do you have the right information about the company? Most online brokers can help facilitate your trading with in-depth educational resources, analysis tools and research. These offerings may come in handy if you’re still making baby steps into the world of stock trading or don’t want to do market research on your own.

It’s also a good idea to choose a brokerage that offers 24/7 customer support, whether it’s via live chat or phone. You don’t want to be stuck with a problem for hours just because customer support is unreachable. Test the waters by contacting a platform’s customer service before you create a trading account.

Your budget — and overall trading strategy — determine the number of shares you can buy. For beginners, the rule of thumb is simply “put in the money you can afford to lose.”

For instance, if you want to invest $1,000 in ZNGA’s stock currently trading at $10, you’ll own 100 shares of the company.  Be sure to review your buy order since your broker isn’t responsible for any errors you make.

We like to look at a stock order as the gateway from idea to action. It’s where you pull the proverbial trigger, where the market opportunity gets real. 
Most online brokers support the following order types:

Bid
A bid or bid price is the highest amount of money you’re willing to pay for the ZNGA stock. If ZNGA trades at $10, you can set the bid price to $8. As soon as the stock’s market price falls to $8, your buy order executes.

Ask
The ask price is the lowest amount of money you’re willing to accept for the sale of your security. For instance, if ZNGA is currently priced at $10, you can set an ask price of $12. Your order is automatically executed as soon as ZNGA’s market price rises to $12.

Spread
Spread is the difference between the highest and lowest amount of money you’re willing to accept for a security. It’s the difference between the bid and ask price. If the bid price of ZNGA is $8 and the ask price is $12, the spread is $4.
Spreads get broader when stocks have fewer buyers and sellers and tighter when there are many buyers and sellers.

Market Order
A market order lets you buy or sell shares immediately at the next available price. If you’re placing an order to buy, it will get fulfilled at the next available ask price. Market orders typically have priority over other order types — they generally complete instantly during regular trading and extended trading hours.
This order type is ideal when you want to trade stocks quickly or avert partial fills — they’re all about immediacy.

Stop Order
A stop order is an order to buy or sell ZNGA once its price reaches a specific level, known as the stop price. When the stock attains your stop price, the stop order now becomes a market order. You’d typically place a stop order to help mitigate potential losses, in case the stock price moves in the wrong direction.

Limit Order
A limit order technically means you want to buy or sell ZNGA stock at a specific price or better. With a buy limit order, your purchase is executed at your limit price or lower. A sell limit order sells your stock at the limit price or higher.
Remember, limit orders aren’t guaranteed to execute. If there aren’t sufficient shares in the market at your limit price, it may take multiple trades to fill the order or it may not be filled altogether.

Stop Limit Order
A stop limit order is a hybrid order that combines the features of a limit order and stop order. When a stock hits the stop price that you set, a limit order is triggered. Your limit order is then executed at your limit price or better.
Traders often leverage stop limit orders in an attempt to limit the amount of loss or protect a profit in case the stock price moves in the wrong direction.

Once you’ve decided the number of shares you want to buy and the order type, you can execute a trade on your online broker.

Remember, the execution of your order only occurs when it's filled and not when you place it. A few reasons your order might not have been filled yet include:

- Limited volume
- Market open conditions
- Extended hours
- Unstable market conditions