- Want to buy Bens Creek Group shares for exposure to the mining sector?
- Use our guide to decide what trading platform to use.
- Learn more about what moves their share price.
Bens Creek Group (LON: BEN) owns and operates several mines in North America to extract metallurgical coal, which is used in the production of steel rather than power generation.
Demand for steel is anticipated to rise as countries replace old infrastructure with sustainability in mind, so demand for steel-grade coal is likely to remain high.
For more on how to buy shares in Bens Creek, read on for a full guide.
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80.2% of retail CFD accounts lose money
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Compare share dealer accounts on Finty. Research fees, commissions, tradable assets, markets, etc.
Step 1: Pick an online broker
Brokers act like the middleman between you and the stock market. Most brokers offer a relatively similar range of services, meaning they are differentiated by a few attributes: brokerage fees, what markets they have access to, what you can trade with them, what the trading experience is like.
Whichever you choose, your broker should have access to the London Stock Exchange if you want to buy ITM Power shares (because that’s where they are traded).
Step 2: Fund your account
After setting up your account and getting verified, you’ll need to transfer funds to it. This can take a couple of days (depending on what method you choose).
Some platforms — like eToro — have demo accounts available, meaning you can get used to the trading platform and practice trading without using real money.
Step 3: Decide how much to invest
It’s important to set a budget for investing, since investing in shares is speculative and their value can go down as well as up.
Resist the fear of missing out and don’t invest more than you can afford to lose.
Step 4: Choose to buy shares or an ETF
ETFs are a diversified investment with exposuse to a group of companies, which typically all have something in common, e.g. the same industry.
The risk of investing in an ETF, although not entirely removed, is typically less than investing in a single stock because of its diversification. This also means the value of an ETF tends to be steadier and less volatile.
ETFs that have exposure to ITM Power include iShares Core MSCI Total International Stock ETF (IXUS) and Invesco ETF Tr II-Invesco Global Clean Energy ETF (PBD).
Step 5: Configure your order
A market order is the most basic order type. Once submitted, the broker will buy at the next available price.
Depending on the broker, several other more complex order types may be available. For example, you could configure an order to buy or sell shares automatically when the price hits a target you’ve specified.
Step 6: Place your order
Now all that remains is to submit your order and buy the shares.
ITM Power’s share price can be tracked via the London Stock Exchange. If you are holding shares, keep track of their press Releases, official statements to the market, and company results.
Taking an interest in what ITM Power’s main competitors — McPhy Energy (LON: MCPHY), and Hydrogenics (TSX: HYG), for example — are doing can help keep you informed more broadly of their market. You may also want to track a few other clean energy producers, for example, Sunnova Energy (NYSE: NOVA), Renishaw (LON: RSW), Ceres Power (LON: CWR) and XP Power (LON: XPP).
Disclaimer: We put our customer’s needs first. The views expressed in this article are those of the writer’s alone and do not constitute financial advice. Advertisers cannot influence editorial content. However, Finty and/or the writer may have a financial interest in the companies mentioned. Finty is committed to providing factual, honest, and accurate information that is compliant with governing laws and regulations. Do your own due diligence and seek professional advice before deciding to invest in one of the products mentioned. For more information, see Finty’s editorial guidelines and terms and conditions.