In today’s accessible investment world, the stock market is a potentially lucrative option for many. Here at Coincipher, we provide essential information and a step-by-step guide to buy stocks with ING Bank.
Summary
ING Bank itself does not offer direct stock trading capabilities. However, ING Bank customers can invest in stocks by transferring euros from their ING accounts to a regulated brokerage platform that complies with financial authorities like the De Nederlandsche Bank (DNB).
After a thorough evaluation, we recommend the platform eToro for seamless integration with ING Bank accounts. eToro is regulated by tier-1 regulators like the FCA and CySEC, allowing users to explore over 3,000 stocks, ETFs, commodities and more investment opportunities.
ING Bank Overview
ING Bank is a leading European universal bank serving around 37 million customers, corporate clients and financial institutions in over 40 countries. ING offers retail banking services like savings, payments, investments, loans and mortgages in most markets. For corporate clients, ING provides specialized lending, tailored finance solutions, sustainable finance, payments, cash management and trade services.
Key Metrics
- 37 million total customers
- Over 40 countries with presence
- Over 60,000 employees
- Offers retail banking products like savings, payments, investments, loans and mortgages
- Provides wholesale banking services including specialized lending, corporate finance, sustainable finance solutions, payments and cash management
- Listed on stock exchanges in Amsterdam, Brussels and New York
- Received ‘AA’ ESG rating from MSCI in 2020
- Has a ‘Strong’ sustainability risk management rating from Sustainalytics
- Included in major ESG indices like STOXX, Morningstar and FTSE Russell
- Categorized markets as Leaders (Netherlands, Belgium etc), Challengers (Germany, Italy etc) and Growth (Poland, Turkey etc) based on the presence and potential
Step-by-Step Guide to Buy Stocks with ING Bank
Here is a step-by-step guide to buy stocks with ING Bank account:
Step 1: Research and Analysis
Conduct thorough research on the company and stock you wish to purchase. Explore financial health, products, services, and recent news or events that may impact performance.
Step 2: Select a Brokerage
We recommend using the platform eToro to buy stocks with ING Bank. eToro is regulated, offers easy ING account integration, and gives access to over 3,000 stocks and other assets.
Step 3: Fund Your eToro Account
Navigate to eToro’s deposit section. Choose your currency (EUR recommended) and preferred payment method, like bank transfer, to transfer money from your ING account.
Step 4: Determine the Number of Shares
Decide how many shares you want to buy based on your strategy and budget.
Step 5: Place a Buy Order
Use eToro to place a market or limit order for the stock purchase. Specify the number of shares.
Step 6: Review and Confirm
Double-check order details before confirming to ensure accuracy.
Step 7: Monitor Performance
Regularly monitor your investment and stay updated on company and market news.
Step 8: Periodically Review and Adjust
If necessary, review strategy and adjust holdings based on changing conditions or goals.
So, here’s our quick guide that provides a secure, informed process for purchasing stocks using ING Bank accounts.
Fees for Buying Stocks
Transferring funds from ING Bank to brokerages like eToro usually doesn’t incur fees for USD deposits, but small fees may apply for EUR or GBP deposits. Using an ING debit card could also incur transaction fees.
Taxes on Stock Investments
Stock investments are usually subject to capital gains tax when sold for a profit. Tax implications can vary based on jurisdiction. In the Netherlands, stock profits above €833 per year are taxed at 31%. Consult a tax advisor for specifics.
Expanding Investing Possibilities
If you’re looking to expand your investment possibilities beyond stocks, the following guides provide useful information:
Conclusion
In conclusion, buying stocks with ING Bank involves transferring funds to regulated brokerages like eToro that provide access to global stock markets. Follow the 8 steps outlined here for a streamlined, secure stock purchasing process. Investing requires regular research, evaluation and adaptability to changing market conditions.
Frequently Asked Questions
What stocks can I buy through ING Bank?
By transferring funds to brokerages like eToro, ING Bank users can invest in over 3,000 different stocks across global markets. This includes popular companies like Apple, Microsoft, Amazon, Meta, IBM, Tesla, Alibaba, and more.
What is the minimum amount needed to buy stocks with ING Bank?
The minimum investment amount can vary based on the chosen brokerage. For example, eToro allows stock investments starting from $50. Be sure to check minimum requirements before funding your account.
What fees are charged for stock trading through ING Bank?
While ING Bank itself does not charge fees, the brokerage used to facilitate trading may have applicable fees. eToro has a transparent fee structure with no commission but a small spread cost. Other charges like withdrawal fees should also be considered.
Can I trade stocks on my ING Bank mobile app?
No, ING Bank’s mobile app does not support direct stock trading. You need to transfer funds to a brokerage account like eToro, which offers user-friendly mobile apps to manage your portfolio and execute trades.
How long does it take to buy stocks using ING Bank money transfers?
Transfer times can vary, but most brokerages credit funds within 1-3 business days. Verification procedures may add time. Once money is available in your trading account, stock transactions are executed near-instantly.
