Vodafone (LON: VOD) is a telecommunications and IT services corporation established in the United Kingdom. Their services are available in Europe, Oceania, Africa, and Asia.
Vodafone offers broadband and internet television in addition to mobile phone services. Millions of people who previously had no access to banking services have had their lives transformed by their M-Pesa mobile money transfer system.
Read on for our complete step-by-step guide to investing in Vodafone shares.
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*The interest rates are true as of 12.06.2023
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Step 1: Sign up with a broker
Vodafone is listed on the London Stock Exchange. You'll need a broker with access to this exchange if you are to buy shares in the company.
Be sure to choose a platform with a seamless user experience so you can spend less time figuring out what to do and more time achieving your investment goals.
Other things to consider when comparing your options include what stockmarkets and instruments can be traded, for example, US shares, commodities, crypto, etc. Pay attention to the brokerage and foreign exchange fees, too, since these vary between brokers.
Step 2: Fund your account
You’ll need to have cleared funds available in your account before you can buy shares. Fund your account with a bank transfer or debit card. It may be possible to use a credit card, but this varies considerably between brokers. Be careful if investing with borrowed money.
Step 3: Decide how much to invest
Investing is not without risk and there is a chance you could lose some or all of your money. You can invest smaller amounts over time to distribute risk. A broker with fractional shares may be more suitable if operating with a limited budget.
Step 4: Invest in shares or an ETF?
ETFs can help diversify your portfolio because they hold shares in several companies instead of shares of a single company.
ETFs with shares of Vodafone include Defiance Next Gen Connectivity ETF (FIVG), Pacer Global Cash Cows Dividend ETF (GCOW), and InfraCap Equity Income Fund ETF (ICAP).
Step 5: Create an order
A market order is the most basic type of order, meaning your broker will buy shares in Vodafone at the next available price.
If you have a target price in mind, most brokers will let you configure an order to automatically buy or sell once a price target has been hit. Alternatively, you may be able to set up a recurring order to buy shares periodically.
Keep an eye on the direction the Vodafone board is taking the company. Read up about the markets they are entering and any new products they are developing or launching. Press releases and financial reports are excellent sources of information too.
Take an interest in what their chief competitors are doing. These include Orange (EPA: ORA), Telefonica (BME: TEF), Telstra (ASX: TLS), and Deutsche Telekom (ETR:DTE).
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