How To Buy Invesco CurrencyShares® Australian Dollar Trust (FXA) Stock
How To Buy FXA
Invesco CurrencyShares® Australian Dollar Trust (FXA) is an ETF listed on the NYSE ARCA exchange, which means you can buy the stock from most brokers. Follow the steps below to learn how to purchase shares of the stock.
Find a reliable broker.
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Fund your new account.
You'll need to transfer money into your new brokerage account before you can buy the stock. Transferring via a bank transfer is recommended and the most common way to fund an account. Some brokers might allow funding via a debit or credit card.
Search for FXA on the brokerage app or site.
When your funds are settled into your account, look for Invesco CurrencyShares® Australian Dollar Trust on your broker by searching for the company name: Invesco CurrencyShares® Australian Dollar Trust or the ticker symbol: FXA.
Buy the stock.
Once that you've found Invesco CurrencyShares® Australian Dollar Trust on your broker, you can submit a purchase order to buy the stock for $67.13 a share (current price). Note that depending on when you decide to buy the stock, the stock might be higher or lower than the price listed. You may also be able to purchase fractional shares, depending on your broker.
Once your order is fulfilled, you've just bought your first shares of Invesco CurrencyShares® Australian Dollar Trust. Congratulations!
When submitting your order, you may choose to buy shares of Invesco CurrencyShares® Australian Dollar Trust at the market price with a market order or at a set price using a limit order.
- Market order: Buy the stock immediately at its current price.
- Limit order: Buy the stock only once it reaches your target price.
By default all purchases are considered market orders unless specified otherwise. Limit orders are great if you only want to buy shares of FXA if it reaches a certain price.
Should You Buy FXA Stock Now?
In the past week, the price per share of Invesco CurrencyShares® Australian Dollar Trust has gone down ↓0.42 (-0.62%) and the daily volume has dropped by more than half.. You should buy FXA now if you think the stock will recover soon, or wait until you think the stock is done dropping.
In the end no one nor metric can really tell you whether or not you should buy FXA today. You should be comfortable with the risk of the investment and buy only when you think the time is right.