Summary: Considering lithium’s vital role in switching to renewable energy sources, investing in Sociedad Química y Minera (SQM) as the world’s largest lithium producer is an attractive opportunity to many investors. This guide will explain how to buy SQM stock in detail using a regulated online brokerage like eToro.
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About SQM
About
Founded in 1968, the company is today a leading supplier of specialty plant nutrients, iodine, and industrial chemicals, while being the world’s largest producer of lithium, a key component in the transition towards renewable energies.
The primary focuses of SQM include essential agriculture components and electronics. Furthermore, the lithium it supplies is vital in producing electric vehicle batteries and stationary energy storage systems.
Embracing sustainability and environmental responsibility in its operations, SQM has implemented policies and practices to limit its ecological footprint and encourage social development within the local communities.
How to buy SQM stock: step-by-step
As it is a publicly-traded company, you can buy SQM stock through regulated exchange services. Simply go through this 5-step process:
Step 1: Choose a broker
Picking the right stock broker depends mainly on your investment approach and objectives. Keep in mind the following:
- Range of offerings: The range of available financial instruments tells a lot about the professionalism of the platform. Look for assets like commodities, various stocks, cryptocurrencies, and forex, and even derivative assets like CFDs, options, and futures. These might attract your attention over time, so having them available simplifies the investing process;
- Cost: Most investing platforms enable commission-free trading and no-minimum accounts for stocks and ETFs. However, do not disregard other vital aspects just for the candidate with the lowest fees;
- Regulation and security: Confirm that the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations apply to your broker. Ensure the availability of advanced security measures like two-factor authentication (2FA);
- Fractional stock trading: Platforms that enable fractional stock trading allow you to buy stocks by the dollar amount, which suits those with limited capital or traders seeking to pursue the dollar-cost averaging approach.
To securely buy Sociedad Química y Minera stock (SQM), we recommend:
- Commission-free stock and ETF trading;
- 2,000+ stocks from 17 exchanges;
- Fractional shares available;
- User-friendly platform.
Highly Rated Stock Trading & Investing Platform
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Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
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0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
Step 2: Open and fund your account
After you select the broker, you must register an account. Once you complete this and verify your identity, you should proceed to fund the newly created account.
You should typically have a bank transfer, debit or credit card, and a third-party transaction service such as PayPal (PYPL) as payment methods. Go through the one you are most familiar with.
Step 3: Decide how much SQM stock you want to buy
Before buying any SQM shares, you must designate the amount you wish to purchase. To help you decide, provide answers to these two questions:
- Will I be able to maintain my living standards if I lose this amount of cash?
- Have I added my daily costs, put up an emergency fund, and cleared all high-interest debt?
Your response depends on several factors, such as personal investing style, risk tolerance, and investment goals. Remember that each investment carries a degree of risk: stick to the levels you are comfortable managing.
Note
Step 4: Place your order and buy SQM stock
When you have decided how much SQM shares you wish to purchase, you should place your order. Go through the following steps:
- Step 1: Go to your online brokerage account and look for the company’s ticker stock symbol SQM;
- Step 2: Type in the amount of stock you want to buy in the box;
- Step 3: Choose the order type (market order or limit order) and place it;
- Step 4: Commit the trade.
Step 5: Monitor and manage your investment
Receiving the shares into your account does not conclude the investing process, as you still have to monitor and manage your stock portfolio.
This is done by regularly looking up the company’s financial health, the mining and energy storage sector trends, and the media coverage of the energy storage system industry. Having the relevant information will make handling risk and making more accurate investing decisions easier.
SQM stock price today
Common mistakes to avoid when buying SQM stock
With certain measures and policies, you can prevent the most common investing mistakes that lead to people losing their profits (or their whole investment). Make sure to avoid the following:
- Lack of research: Always thoroughly research the asset you want to invest in and the current market tendencies. Uncovering critical investing information allows you to formulate your strategy better and increase your odds of turning a profit;
- Lack of strategy: Set your investing objectives before you invest anything. A clear pathway will help you keep the broader picture in mind and boost your chances of making a profit;
- Falling prey to emotions: Emotional reactions to an unexpected change in the market environment usually leads to decisions that investors later regret. Keep a cool head when considering your investing decisions;
- Staking everything on one asset: Even if you have the highest possible assurances of the SQM stock’s performance, always diversify your portfolio;
- Falling prey to scams: Avoid unverified platforms and deals in shadow. If your instinct tells you something might be wrong, re-confirm the situation or walk away.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy SQM stock
How to buy SQM stock?
The best way to invest in SQM is by using a regulated and popular third-party brokerage like eToro.
Where to buy SQM stock?
SQM is a publicly listed stock, so you can invest in it using online trading platforms, including eToro.
How do I sell my SQM stock?
Selling your SQM stock is almost the same as buying it. Log into your brokerage account, go to the stock’s detail page, provide the number of stock you want to unload, and press ‘sell’.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
