SpaceX begins trading on the Nasdaq today under the ticker SPCX, and retail investors are part of the largest IPO in history, with the company raising nearly $75 billion at a roughly $1.75 trillion valuation. Benzinga
Moments like this send thousands of first-time investors searching for the same answer: how do you actually buy a stock?
The good news is that the process takes less time than ordering groceries online, and you can start with as little as $1.
How to Buy Stocks
Buying a stock takes three steps: open a brokerage account, deposit money into it, and place an order for the shares you want.
A brokerage account works like a bank account built for investing, and opening one online typically takes 10 to 15 minutes.
Most major U.S. brokerages now charge zero commission on stock and exchange-traded fund trades, so the main costs of investing are the prices of the shares themselves.
If you want help picking a platform, Benzinga’s guide to the best stock brokers for beginners compares the top options on fees, tools, and ease of use.
Open and Fund a Brokerage Account
To open an account, you will need your Social Security number, a government-issued ID, and basic employment information.
Brokerages are required to collect this under federal know-your-customer rules, so every legitimate platform will ask for it.
Once the account is approved, link a bank account and transfer money.
Many brokerages make a portion of your deposit available to trade instantly, while the full transfer usually clears within one to three business days.
There is no required minimum at most platforms, so $25 or $50 is enough to begin.
Cash and securities in your account are protected up to $500,000, including a $250,000 limit for cash, if the brokerage fails, under coverage from the Securities Investor Protection Corporation.
That protection covers brokerage failure, not investment losses, which remain yours to bear.
Choose What You Want to Buy
Every public company trades under a ticker symbol, such as AAPL for Apple or MSFT for Microsoft.
Before buying, look at the basics: what the company sells, whether revenue is growing, and how the stock is valued relative to earnings.
Many beginners start with broad index funds instead of individual companies, since one fund can hold hundreds of stocks at once.
Benzinga’s roundup of the best online brokers for index funds covers platforms with zero-commission fund access and automatic investing tools.
If you prefer the flexibility of funds that trade like stocks, compare the best brokers for ETFs before committing.
Place Your First Order
Inside your brokerage app, search the ticker symbol, tap buy, and choose an order type.
A market order buys immediately at the best available price, while a limit order only executes at the price you set or better.
For most long-term investors buying widely traded stocks, a market order during regular trading hours, 9:30 a.m. to 4 p.m. Eastern, is the simplest route.
Limit orders matter more for volatile situations, and today’s SpaceX debut is a textbook example, since retail investors submitted more than $70 billion in orders for shares priced at $135, a setup that can produce sharp first-day price swings. Benzinga
If a full share is out of reach, most major brokerages offer fractional shares, which let you buy a slice of a stock for as little as $1 to $5.
That means you do not need $500 to own a piece of a company trading at $500 per share.
What Happens After You Buy
Your trade settles in one business day under the SEC’s T+1 settlement rule, which took effect in May 2024.
From there, the share sits in your account, and any dividends the company pays land there automatically, with most platforms offering free dividend reinvestment.
The habit that matters most is consistency: investing a fixed amount on a regular schedule, called dollar-cost averaging, smooths out the highs and lows of market timing.
If you are still choosing a platform, SoFi makes a strong starting point, since SoFi Invest offers commission-free trading and fractional shares starting at $5, which is enough to begin building a position this week.
For a wider comparison across fees, research tools, and account types, Benzinga’s full ranking of the best stock brokers in the U.S. is updated for 2026.
And if you are tempted to make SpaceX your first purchase, consider waiting a few sessions, since IPO prices often settle well above or below their opening trades once the initial demand works through the market.
