How To Buy Amazon Stock On Robinhood In 2024 (AMZN)

Amazon is one of the most influential companies in the world, and its stock has attracted investors who are eager to participate in its growth.

If you're looking to buy Amazon stock, here’s a simple guide to help you through the process.

Be sure to check out our video below on how to buy Amazon stock!

1. Research Amazon

Before investing in any stock, it's crucial to do thorough research. Amazon is a multinational technology company known for its e-commerce, cloud computing, artificial intelligence, and more.

As a potential investor, you should evaluate its business model, revenue streams, and growth potential. Look at Amazon’s recent financial reports, stock performance, and future outlook. It’s also important to consider the competitive landscape and potential risks.

You can find reliable information on Amazon by visiting reputable financial news websites, reviewing quarterly earnings reports, and checking out analyst ratings and target prices.

2. Choose A Brokerage Platform

Once you’ve decided to invest in Amazon, the next step is to choose a brokerage platform. There are a variety of online brokerage accounts to choose from, each offering different features, fees, and platforms.

Popular brokerage platforms include Fidelity, Charles Schwab, TD Ameritrade, Robinhood, and E*TRADE. Choose the one that best suits your investment style and financial goals.

We're going to be using Robinhood to buy Amazon stock. This is a commission free stock trading app that offers fractional shares, meaning you can invest as little as $1 into Amazon stock.

3. Get Your Free Stock

Robinhood offers an incentive for new users who are opening a new brokerage account.

If you use our link to sign up for Robinhood here - you will get a free stock worth up to $200 when you fund the account!

The value of the stock is random, and you get to choose your free fractional share from a list of 20 leading American companies.

If you're looking to learn more, here's our full guide on how Robinhood works for beginners.

4. Deposit Funds

In order to buy a stock, you will need to have funds in your brokerage account.

Robinhood offers an instant deposit feature, which means you can invest your money that you deposit before it settles. It usually takes a few business days for the transfer from your bank account to complete.

Here's how to deposit money into Robinhood:

1. Open the Robinhood App
2. Click on "Buying power" in the middle of the screen
3. Click on the black "Deposit funds" button at the bottom
4. Choose the bank account you want to deposit funds from
5. Enter the dollar amount you would like to transfer
6. Click on the black "Review" button
7. Click on the "Transfer $_" button at the bottom after confirming details

Once you initiate this deposit, you will get access to up to $1,000 immediately through the instant deposit feature.

5. Search For Amazon Stock

You are now ready to invest!

Here's how to buy Amazon stock in the Robinhood app:

1. Open the Robinhood App
2. Click on the Search Icon in the top right
3. Enter the stock symbol (AMZN)
4. Click on the stock
5. Click on the green "Trade" button 
6. Select "Buy"
7. Enter the dollar amount you want to invest
8. Click on the green "Review" button 
9. Swipe up to submit the order

That's it! Just like that, you've become an investor in Amazon stock using Robinhood.

You can now monitor your investment over time in the app. It's important to stay up to date on news and events related to any companies you invest in. This includes tuning in to quarterly earnings reports, for example.