How to Buy Stock in BP Amoco

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BP Amoco is one of the world's largest energy companies.
BP Amoco is one of the world's largest energy companies. (Image: oil well image by michael langley from Fotolia.com)

BP Amoco, one of the largest energy companies in the world, trades on the New York Stock Exchange under the ticker symbol BP. Buying BP stock is easy once you have an active brokerage account.

Open Account

Decide on a brokerage firm and complete any necessary paperwork. Online accounts may allow electronic signature while full-service firms often require actual forms.

Fill out an application completely and accurately.
Fill out an application completely and accurately. (Image: paperwork image by Pix by Marti from Fotolia.com)

Fund the Account

Drop by or send a check to your brokerage account, or make an electronic transfer. Ask how long you’ll need to wait before placing your BP trade.

You'll need money in your account to buy stock.
You'll need money in your account to buy stock. (Image: Transfer of money from hands in hands image by Irina smolina from Fotolia.com)

Calculate

Find a recent price for BP at any reliable financial website. Calculate how many shares you can afford. Keep in mind that shares of BP, which is based in the U.K., have been beaten down as a result of the catastrophic oil spill in the Gulf of Mexico. They rebounded some after the ruptured wellhead was capped, but the company still faces huge liability.

Use the current price to figure out how many shares you'll buy.
Use the current price to figure out how many shares you'll buy. (Image: Calculator image by Alhazm Salemi from Fotolia.com)

Trade

Call your broker to trade or type BP into the market order screen of your online trading platform. Decide if you’d like to buy at the market or place a limit order that buys once BP reaches a predetermined price.

Call your broker or trade online.
Call your broker or trade online. (Image: man on phone image by Peter Baxter from Fotolia.com)

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