Q:

How do you buy stock in Ally Bank?

A:

Quick Answer

To buy stock in Ally Bank, sign up for a brokerage account and then search for ALLY, the company's stock ticker symbol, as noted by CNBC. Ally officially trades under the name Ally Financial and is listed on the New York Stock Exchange.

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Full Answer

A brokerage account is a tool that allows an investor to purchase stocks, bonds, mutual funds and other investments, as noted by About Money. Various brokerage accounts have different commission and fee structures. The two types of brokerage accounts include discount brokerages and traditional brokerages. A discount brokerage has limited services and commissions are not as expensive. In contrast, a traditional brokerage offers money management services and investment advice, as listed by About Money.

Ally Financial offers bank products, automotive financing products and dealer services, as stated by the organization's official website. The stock trades on the New York Stock Exchange and can be found by typing the related ticker symbol or company name into the search field within the chosen brokerage account platform. Once the company is located, there are various purchasing options including a market order, limit order, stop loss order or trailing stop, as noted by About Money. These different types of orders assume various levels of risk and set controls on the price to pay for the Ally Financial security.

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