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.

Top trading apps

How to buy Bank of America shares

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 platform - See our top platform picks
  2. Open your share 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 share 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!

Share Trading Apps Comparison

Trading Platforms:Features:*Go To Site:
eToro Share DealingeToro offers 0% Commission Trading. Free access to TipRanks expert share analysis. CopyTrader is eToro’s most popular feature and allows you to view what traders are doing in real time and copy their trading automatically.

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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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.

71% of retail investor accounts lose money. Capital at risk.

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

Capital at risk.

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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.

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Fineco Bank has 1.3 million clients. No inactivity charges. SPECIAL OFFER: £500 in trading commissions - open an a/c by 29th July & get £500 trading commission to use within 3 months. T&Cs apply.

Capital at risk.

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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.

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

Capital at risk.

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AJ Bell SharedealingAJ Bell offers overseas trading in 24 international markets.

Capital at risk.

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*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, October 2021).

Trading news for Bank of America

Is now a good time to buy Bank of America shares?

Trade Bank of America Shares

“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 & Sell Bank of AmericaeToro Share Dealing

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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

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How to select a share trading app/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

Are you 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 a share price increasing or decreasing without having to take direct ownership of the shares 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. You’d need to consider the costs of maintaining a position – such as overnight funding – and the bet duration, as spread bets have fixed terms.

They enable you to buy and sell shares online without 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 shares

Are you looking to take a longer-term position in 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 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, usually reducing this fee if you carry out more than a certain number of monthly trades.

Profits you make on share trading capital gains and dividends may be subject to tax at your rate. Taxation 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 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 buy and sell 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 vital in offering traders alerts and buy/sell signals whilst on the move.

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

Many investors are prepared to pay more fees for a platform that offers handy apps and services.

Some platforms, such as eToro, offer customers the option of copying trades of successful traders. This can be an attractive option for new traders where you don’t have to decide when to buy or sell. For more info on copy trading and how it works, click here.

4. Types of trading accounts for long term trading?

Some trading platforms offer 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).

Trader accounts that offer ISA and SIPP include Interactive InvestorAJ Bell, and Hargreaves Lansdown.

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

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

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

The charging structure 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

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.

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.

Bank of America 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 was 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.

IMPORTANT:

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

The value of shares, ETFs and ETCs bought through a share dealing account, 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.