Posted by forex at 12:49 AM
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1. Apply for and open an account with an online stock-brokerage company if you do not already have an account. The Smart Money 2009 Broker Survey rates E-Trade, Fidelity and Charles Schwab as the top three online stock brokers.
2. Fund your brokerage account with the amount of money you want to invest in the Brazilian stock market. Money can be sent to an online brokerage account by wire transfer, electronic deposit or by mailing a check.
3. Look up the current share price of the iShares MSCI Brazil Index Fund using the fund's symbol EWZ. Use the price lookup screen in your online broker account.
4. Calculate the number of shares of EWZ you want to buy. Divide your amount to invest by the current share price and round down to the next whole number. ETFs are exchange trade and most online brokerage accounts require orders to be placed in whole shares.
5. Place an order for the shares of EWZ using your online account order entry system. If you place a market order, it should be filled in a few seconds at a price near the current quote. A limit order can be placed to ensure you will get the quoted price or to split the bid/ask spread.
6. Monitor your order status if you have placed a limit order. If the price of EWZ moves away from your limit, make an adjustment in your limit price.