How to buy Transocean shares

Ok, so you have decided that you'd like to buy Transocean. That's a good start. Now let's see what lies ahead before you can officially say that you are an Transocean shareholder!

Step 1: Find a good online broker

When recommending a broker, we take into account different factors, like the broker's fees, trading platform, accessible markets, and how easy opening an account is. Safety is also highly important, but since we only recommend reliable and regulated brokers, you don't need to worry about it.

Step 2: Open your brokerage account

After finding your online broker, you need to open an account. This process is much like a regular bank account and opening one is usually fully digital. At some brokers the process is as quick as opening a new Gmail account, at others, it could take a couple of days while they do some background check on you.

Step 3: Deposit money to your account

You will pay cash to buy those Transocean stocks. This cash first needs to be sent (deposited) to your broker. The most common way you can deposit your money is by bank transfer and using a credit/debit card. At some brokers, you can deposit from different electronic wallets like Paypal, e.g. at eToro.

Step 4: Buy the Transocean share

Now, you have the account, the cash, and the share target. The last step is to press the buy button! You log in to your online broker, search for Transocean share, insert the number of shares you wish to buy, and click buy, which will initiate the purchase of shares (in trading lingo: execute the buy order).

A couple of hints around this: when placing an order, you can choose from different order types. The market order buys at the actual market price, while the limit order allows you to specify the exact price at which you want to buy the share.

Step 5: Review your Transocean position regularly

You are not completely done yet. Now it is key to monitor your investments. This basically means following your investment strategy. For example, if you bought the Transocean share for holding it for a longer term, you might participate in the annual meeting and collect all the news and information about the company.

If you plan to sell it shortly after you see some increase in the price, you might use different position management tools. E.g. you can set the target price at which you want to sell the share with a profit, or use the stop-loss to set a price at which you want to sell the share to avoid further losses.

Now that you have mastered the 5 steps of buying shares, take a moment to look at the top 3 brokers we are recommending to you.

You have to count with different kind of fees when you are trading with Transocean shares.

Commission is a fee, based on the traded volume or a flat fee per trade. For example, 0.1% of €10,000, $5/trade or $0.005/share.

Needless to say, these are different at each broker. Let's see the fees for trading with Transocean shares at our recommended three brokers:

Transocean is a US Energy company, traded on the NYSE under the RIG ticker. It provides oil and gas drilling services. If you'd like to buy its stocks you need to find a broker that gives you access to the NYSE because that's the main exchange it's traded on (hang tight, we'll get into this in a bit).

How to purchase Transocean shares online?

Just follow these five easy steps:

1. find a broker
2. open your account
3. fund the account
4. buy the share
5. review your position

It may look tricky for the first time but we are here to help you to buy your first stock.