To buy a stock using Interactive Brokers, you first need to open an account with them and fund it.
Once you have done that, you can log in to TWS (Trader Workstation) using the following steps:
- Download and install the TWS software by accessing TWS downloads from the login menu on the Interactive Brokers website or by going to trading TWS software.
- After installing TWS, double-click the TWS icon on your desktop to log in.
- Enter your username and password, and select either live trading or paper trading from the trading mode drop-down.
- Choose your preferred color palette for TWS classic, dark, or light.
- Click on the login button.
Once you have logged in, you can use the Mosaic workspace in TWS to buy a stock.
The Mosaic workspace is a collection of interchangeable windows that give you instant access to market data, charts, and trading tools.
To buy a stock using Interactive Brokers, follow these steps:
- Click on the New Window button and select the Stocks tab.
- Type the symbol of the stock you want to buy in the search bar, and select it from the dropdown menu.
- Click on the Buy button to open the order entry window.
- In the order entry window, select the account you want to use, enter the quantity of shares you want to buy, and select the order type (e.g., market, limit, stop).
- Enter any additional parameters for your order, such as the duration and price limit.
- Review your order details and click on the Submit button to place your order.
- After placing your order, you can monitor its status in the TWS Order Status panel. If your order is filled, you will see the trade details in the TWS Trade Log.
This article was generated using automation technology, and thoroughly edited and fact-checked by an editor on our editorial staff.