Woodbois (LON: WBI) produces, processes, manufactures and sells sustainable softwood and hardwood products. They grow and mill timber in West Africa and sell it globally.
Read on for more details about buying shares in Woodbois.
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Step 1: Sign up with a broker
Woodbois is listed on the London Stock Exchange, which your broker must have access to in order to buy their shares. Many brokers have access to other markets in addition to London.
Here are some things to consider before deciding on a broker.
- What commission do they charge on trades? This can make a difference to the profitability of smaller trades.
- What markets and tradable assets are available? This matters if you would like to invest in overseas stocks, forex, commodities, and so on.
- Is it possible to invest with fractional shares? If so, it’s more feasible to invest and diversify into more expensive shares.
- What is their currency conversion fee? It’s worth finding out if you want to buy international shares.
Step 2: Fund your trading account
To buy shares in Woodbois you'll need to have cleared funds.
Bank transfers and debit cards are the most widely accepted ways to deposit funds. Your broker may also accept credit cards, but, because of the potential for fraud, this is less common.
Step 3: Decide how much to allocate
Things can go wrong in the stock market, which is why you should never invest more than you can afford to lose.
By investing in shares periodically, you are less exposed to the highs and lows of the market. With good timing, you can buy the dips and pound cost average down.
Step 4: Choose whether to invest in shares or an ETF
An ETF (Exchange Traded Fund) is a type of managed diversified investment. They are made up of shares in a number of companies often in a specific sector or industry. An ETF’s name indicates its focus.
Step 5: Set up your order
A market order is the easiest way to buy or sell shares at the market price. What you actually pay per share versus what you get quoted may vary slightly depending on the market.
With most brokers it is possible to configure trigger orders that are executed automatically when the share hits a certain price. Many investors use these orders to protect their profits by selling out of a position when the market turns, taking profit.
News stories about Woodbois, its competitors, and the sustainable timber industry could all impact the price of Woodbois shares.
If you want to learn more about what is happening in the sustainable timber industry, monitor Weyerhaeuser (NYSE: WY), Rayonier (NYSE: RYN), and Plum Creek Timber (NYSE: PCL).
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