Brokers are people with a license to sell stocks. Part of the way they gain customers is by offering expertise in the right time to purchase or sell a stock. While they don't charge clients for the advice, they do charge a considerable amount for the cost of the sale. If you own a stock and simply want to sell it but don't need to pay for the advice, you can save money by selling it without a broker. There are two ways to do this, an online account with no broker and directly through the company on the stock.
Find an online account that offers low-cost trading fees. Some of these companies offer the first few trades free. These are the best to use.
Open an account. You'll find that most of the companies make it very simple for you to open an account. Most of the time it requires you to fill out a form giving your name, address, Social Security number and other pertinent information.
Fill out a form to transfer your stock certificate to the brokerage account. You'll need the back of the certificate signature guaranteed. You can do this by going to most banks. Many of the higher officers can signature guarantee the certificate for you. It's similar to notarizing and requires them to witness you signing the certificate. The form you fill out gives the brokerage firm the stock. In turn, they credit your account for ownership.
Wait for the stock to appear in your account. Once you see it, simply sell it at market value, the price it is when you click sell or a limit price. The limit price is a specified price you want when you sell. If the price never reaches the limit price, the stock doesn't sell.
Sell It through the Company
Find the company's website and check the section for investors. They offer the name and often the website of the transfer agent, the person that keeps track of their stock. Go to that site.
Open a direct registration account. Transfer agents have found it saves a lot of time and expense for investors and them if they simply register your stock ownership rather than have all the stock certificates remaining in investor’s hands. Direct registration accounts eliminate the certificate and simply put all the stock you hold in an account.
Send the certificate back to the transfer agent. You have to go through the same process as you do a broker. The transfer agent has forms to fill out to put the stock in your direct registration account. You'll normally need a signature guarantee on the stock too. If you're confused about the instructions they offer, call the toll-free number for a clearer explanation.
Phone or go online to trade your stock. There's a nominal fee to do this and you can't name the price. The transfer agent sells all stock at the market closing price for the day. They then cut a check and mail you the funds.
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