How To Buy Bank of America Shares – Best Trading Apps 2022

Looking for a share trading app to trade Bank of America that ticks all your boxes?

What the right share trading platform is for you will depend on your requirements.

Who are Bank of America

Bank of America Corporation are one of the biggest banking and financial services corporations in America.

They are typically regarded as being among the top four biggest banks in the US, along with JPMorgan Chase, Citigroup and Wells Fargo.

The bank is a publicly listed company trading on the NYSE, and today has a market capitalisation of over $350 billion.

As of 2021, Bank of America has approximately 66 million consumer and small business clients, 17,000 ATMs worldwide, and 41 million active digital banking users including 32 million mobile users.

Share Trading Apps Comparison

Trading Platforms:Features:*Go To Site:
eToro Share DealingeToro offers 0% Commission Trading. Free access to TipRanks expert share analysis.

67% of retail investor accounts lose money. Capital at risk.

See Deal »
dEGIRO sHARE dEALINGDEGIRO are one of largest and cheapest brokers in Europe. Access to over 50 markets in 30 countries. Low commissions/fees. User-friendly, simple platform.

Investing involves risk of loss.

See Deal »
Saxo BankSAXO Access over 30,000+ stocks across 60+ exchanges worldwide. Ultra competitive pricing. Benefit from extensive charting with 50+ technical indicators, integrated Trade Signals and innovative risk management tools.

Investing involves risk of loss.

See Deal »
IGIG Trade & invest with the world's leading online trading provider.** Trade over 17,000 markets with spread bets and CFDs and invest in thousands of global shares & ETFs.

70% of retail investor accounts lose money. Capital at risk.

See Deal »
Fineco Bank has 1.3 million clients. No inactivity charges. SPECIAL OFFER: £500 in trading commissions - open an a/c by 31st Dec. & get £500 trading commission to use within 3 months. T&Cs apply.

Capital at risk.

See Deal »
Freedom 24 offer lowest fees in Europe. Listed on NASDAQ. Great for IPOs.

Capital at risk.

See Deal »
HL Share DealingHargreaves Lansdown The UK's #1 broker. Price improvement service helps you get the best price for your shares.

Capital at risk.

See Deal »
AJ Bell SharedealingAJ Bell offers overseas trading in 24 international markets.

Capital at risk.

See Deal »
ii Share DealingInteractive Investor are the UK's #1 flat fee platform. Over 350,000 customers.

Capital at risk.

See Deal »

*Please note that additional fees may be applied by platform/App providers for their services. ** No 1 For CFDs and spread betting, based on revenue excluding FX (published financial statements, June 2020).

Bank of America Trading News

On 14 October 2021, Bank of America released their Q3 2021 financial results which detailed the company’s performance for the third quarter of their trading year.

Below are some of the key financial highlights from their results.

  • Net income of $7.7 billion, represents diluted earnings per share of $0.85

In comparison to Bank of America’s Q3 2020 financial results:

  • Revenue of $22.8 billion, represents an increase of $2.4 billion, or 12%
  • The balance sheet has increased, with average deposits of $1.9T increased $54 billion, up 15% year on year

The results across the board were positive, and reflect the company’s growing value throughout the pandemic years.

Since taking initial slump in March 2020, Bank of America’s share price has risen gradually over 18 to 24 months albeit experiencing short term dips throughout the period.

How to buy Bank of America stock

Our view:  The next generation of online trading platform means you can get setup & buy Bank of America shares in as little as 5 minutes!

  1. Select a share trading platform – See our top platform picks
  2. Open your trading account – To do this you will need your bank details and national insurance number
  3. Fund your account – You will need to fund your a/c with a debit or credit card or bank transfer
  4. Search for the stock using the Bank of America stock code – Type in the BAC stock code into the search box
  5. Check out the latest info and price for the selected share – Some platforms offer free research and analysis
  6. Buy the share – Nice and easy!

eToro – Offers 0% commission free trading

“eToro is the world’s largest community of traders and investors, numbering more than 10 million from more than 140 countries.”

One of the attractions of eToro as a platform is the ability to participate in copy and social trading.

CopyTrader is eToro’s most popular feature and allows you to view what traders are doing in real time and copy their trading automatically. If you are a beginner learning the basics or simply don’t have time to watch the markets, this feature allows you to leverage other traders expertise.

Buy US, UK & International StockseToro Share Dealing

Capital is at risk. 

  • 0% commission on stocks (other fees apply)
  • Copy successful traders
  • Features for novices & experts
  • Free access to TipRanks expert share analysis
  • Editors choice “Great for new traders”

Go To Site »

How to select a share trading platform?

Trading platform services offered vary widely, and so do the costs.

5 things to think about:

1. How do you want to trade?

There are different ways to trade shares online:

a. Short term trading – Spread betting & CFDs

Looking to take advantage of short term opportunities in the market?

With derivatives trading you can use products such as CFDs and spread bets to speculate on Bank of America’s share price increasing or decreasing without having to take direct ownership of the stocks themselves.

CFDs (Contracts For Difference) and spread betting are leveraged products, which means you can gain full exposure to company shares while only putting down a small deposit. While this magnifies possible profits, it does the same for losses.

CFDs & spread bets are popular among short term traders as profits and losses are realised immediately – making it faster to open and close trades. However, this doesn’t mean you can’t use them for longer-term positions too. You’d just need to consider the costs involved in maintaining a position – such as overnight funding – and the bet duration as spread bets do have fixed terms.

They also enable you to buy and sell stocks online without ever owning the underlying asset. This has tax benefits and means you can trade both rising and falling markets (Tax laws are subject to change).

b. Long term trading – Investing in Bank of America shares

Looking to take a longer term position in Bank of America shares?

Share dealing services enables you to invest in company shares with a view to selling them for a profit at a later date. When you buy shares in Bank of America you become a part owner of that Company and gain shareholder rights including any income that is paid as dividends.

Different share dealing services have different charging structures. Some platforms offer commission free share dealing, but most operate on a fixed fee per trade with usually a reduction in this fee if you carry out more than a certain number of trades per month.

With profits you make on share trading capital gains and dividends earned may be subject to tax at your personal rate. Tax can be mitigated if you trade within an ISA or Self Invested Personal Pension account.

2. Do you want to do a lot of trading?

Active investors will want to look for a platform that offers the lowest fees for volume trades.

If you are going to trade Bank of America stock regularly most trading platforms will offer lower trading prices based on volume.

3. How easy to use is this trading platform: what kind of tools and customer service does it offer?

How easy is the platform to use to buy and sell Bank of America shares for new traders/investors?

Platform functionality is becoming the key battleground in persuading traders which platform to go for.

Mobile app features are also key in offering traders alerts and buy/sell signals whilst on the move.

These are often the criteria that count most highly with users, so do some research and read the reviews.

Many investors are prepared to pay a bit more in fees for a platform that offers really useful apps and services.

4. Types of trading accounts for long term trading?

Some trading platforms offer as well as general share trading accounts, ISA accounts and Self Invested Personal Pension Accounts which offer tax free trading benefits (no tax on dividends or capital gains tax on realised profit).

5. Do you want to trade just in shares, funds, or stocks & funds?

If you also interested in investing or trading in funds then this again may determine who you go with.

If you are interested in ETFs, Investment Trusts, Open Ended Investment Companies (OEICs) or Unit Trusts then you will need to check with the platform provider what is available. E.g. Some platforms only offer a limited number of collectives such as OEICs.

Charging structured for funds held on the platform will vary. Over time the impact of such charges can be significant. Check the platform charging structure carefully.

About Bank of America

Company History:

Bank of America’s history can be traced all the way back to 1784 with the foundation of Massachusetts Bank.

However, the Bank of America name wasn’t used until 1923 when its Los Angeles banking group was established on the West coast of America.

The company began using its well-known BankAmerica name in 1956, and eventually adopted its current name, Bank of America, company-wide in 1998 after merging with NationsBank. At the time, the BankAmerica and NationsBank merger was the largest bank acquisition in history.

Since the 2000s, the company has made a number of significant developments:

  • In 2004, Bank of America purchased FleetBoston Financial for $47 billion.
  • In 2006, the bank purchased major credit card company MBNA. From this point, Bank of America become the leading credit card developer and provider in the US, before VISA became their main competition in the years following.
  • In 2007, Bank of America purchased The United States Trust Company for $3.3 billion.
  • Also in 2007, the company purchased LaSalle Bank Corporation for $21 billion.
  • In 2008, Bank of America announced it would be purchasing Merrill Lynch & Co for approximately $50 billion, with the company reportedly days away from collapse. The acquisition made Bank of America the largest financial services company in the world shortly after the deal completed. However, as a result of discovering Merrill Lynch’s huge undisclosed financial losses, Bank of America’s share price later plummeted to record lows. The market capitalisation of the entire company was just $45 billion after the merger, $5 billion less than the cost of the merger alone.
  • Since 2015, Bank of America has been looking to expand into multiple US cities in which it previously did not have a banking presence, including Denver, Indianapolis and Pittsburgh.


No news, feature article or comment should be seen as a personal recommendation to invest. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular plan. If you are at all unsure of the suitability of a particular product, both in respect of its objectives and its risk profile, you should seek independent financial advice.

The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 67%-70% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

Tax treatment of ISAs depends on your individual circumstances and is based on current law which may be subject to change in the future. ISA transfer charges may apply, please check with your provider.

Written by Sam Hodgson ,
26th December 2021