How To Buy Slack Technologies Stock 2020

How To Buy Slack Technologies Stock

Welcome to Trading Brokers step by step guide to buying Slack Technologies stock in 2020. Here you will find an easy to understand explanation of trading Slack Technologies stock. This includes how to buy Slack Technologies shares online, what you need to trade Slack Technologies stock and how to open a trading account with a stock broker so that you can buy Slack Technologies stock online today.

Maybe you have heard of buying Slack Technologies stock online or through a friend. Perhaps you are looking to trade and are curious about the different options available to you. Whether you are looking to speculate, invest or just learn more, this guide on how to buy Slack Technologies stock can help you along your journey.

Overview of Slack Technologies

Slack Technologies Inc. (WORK), founded in 2009, is a San Francisco, California-based software company that mainly offers a team communication tool called Slack, which is a collaboration platform that brings together the right information, apps and tools to help individuals and businesses complete their work.

Its customers range from big companies to small enterprises around the world that are using Slack to connect their staff and merge their systems to boost growth. Slack platform provides access to more than 2,000 applications and a strong application programming interface (API) for streamlining work, automating routine tasks, and bringing a meaningful context in team conversations.

Slack Technologies says its partners include some of the biggest software as a service (SaaS) firms and thousands of products that are transforming the ways enterprises carry out their daily tasks. Its Slack App Directory give customers access to numerous apps that can expand the abilities of their Slack teams. Moreover, the company also operates a fund that supports small firms and developers making apps for Slack.

Business model

Slack Technologies offer both free and paid subscription on its platform. It has grown over the years mainly due to strong word-of-mouth marketing by its loyal customers. The company count those customers as daily active users who create or consume content on its platform during a 24-hour period, while it counts them as a paid client if the entity has three or more team members on a paid subscription plan.

The company has grown rapidly over the years and holds millions of daily active users that collectively spend millions of hours on the platform. Slack Technologies is also engaged in marketing its platform and products, though the efforts are directed mostly towards big enterprises having big teams.

The biggest revenue generating source for the company is paid subscriptions for Slack that it receives through monthly or annual plans.

Growth prospects of Slack Technologies

The main reason behind the success of Slack so far is that its platform offers customers unlimited message capabilities, integrated apps, more cloud space, enhanced security, and automated services for regular tasks, among others. The aforesaid suit of products and services has been enticing more customers towards its platform, thus driving more growth.

Focus and Scale

The company’s prime goal is to make its customers’ working lives simpler and more productive. Its strength depends on the scale and growth of its customers and their engagement with the platform. So, we can say that the company’s growth is directly proportional to the growth of its customers.

Risks

Slack Technologies business is subject to several risks and uncertainties. The company’s limited operating history makes it difficult to predict its sales in the coming years. It has turned to losses several times in the past, and it may repeat the trend in future in case of increasing operating costs and slower customers addition.

Moreover, any glitch in Slack platform could hurt its business. Another notable and key risk to the company’s growth is new and established rival companies that directly compete with its offerings and pose a serious threat to its business.

Investing in Slack Technologies

Investing in Slack Technologies stock is when you buy Slack Technologies shares to own them outright, usually with a view to holding them for the long term. Investors would usually look to buy Slack Technologies stock in order to try and make a profit when the Slack Technologies stock price increases in value.

Trading Slack Technologies stock

Trading Slack Technologies stock is when a trader speculates on the movement in the Slack Technologies stock price without actually owning the shares in Slack Technologies. Traders tend to buy and sell Slack Technologies stock on a more frequent basis, usually speculating on daily, weekly or monthly price fluctuations.

You can buy and sell Slack Technologies stock online through various methods including spot markets, futures contracts, options contracts, spread bets, CFDs (contracts for differences) and ETFs (exchange-traded funds).

Slack Technologies CFDs

One of the most popular ways to trade Slack Technologies stock is via CFDs (contracts for differences). When trading Slack Technologies CFDs, you do not actually invest in Slack Technologies shares, meaning you are not tied to them. You are only speculating on the rise or fall of the Slack Technologies stock price. A CFD is a financial contract, typically between a broker and a trader, where one party agrees to pay the other the difference in the value of a security, between the opening and closing of the trade.

A CFD trader can go short or long, set stop and limit losses and apply trading scenarios that align with their own personal objectives. Traders would open long (buy) positions, if they think the stock price of Slack Technologies will rise or short (sell) positions if they thought that the Slack Technologies stock price will fall. The difference in price between the entry and exit price is the traders realised profit or loss, excluding any broker commission and fees.

For example, if you think Slack Technologies shares are going to increase in price, you could buy a share CFD on the company. You will exchange the difference in price between when your position is opened and when it is closed, earning a profit if the shares increase in price and making a loss if they decrease in price.

On the contrary, if you think Slack Technologies shares are going to decrease in price, you could sell a share CFD on the company. You will still exchange the difference in price between when your position is opened and when it is closed, earning a profit if the shares decrease in price and making a loss if they increase in price.

Slack Technologies futures

Futures contracts are an agreement to buy or sell a specified asset at a certain date and price. Slack Technologies investors can use futures trading to speculate on the price movement of Slack Technologies stock in order to try and make a profit. Traders would look to go long (buy) a futures contract if they believe the price will rise or short (sell) a futures contract if they believe the price will fall. The difference in price between the price at the start and expiry date of the futures contract is the profit or loss from the contract.

Slack Technologies spread betting

Spread betting is a financial derivative that enables traders to speculate on Slack Technologies stock falling or rising without taking ownership of the underlying asset. If the trader makes a correct prediction and the asset does move in that direction, they could make a profit, minus any broker fees. On the other hand, if the price moves against their prediction, they would incur a loss.

Financial spread betting is similar in ways to CFD trading except that you are betting a fixed amount per point on the Slack Technologies stock price movement (either up or down) and then pay or receive the difference between the opening and closing price of the bet.

Slack Technologies options

Slack Technologies options are financial instruments that are derivatives based on the value of Slack Technologies’s stock. Traders usually enter into calls when they expect the price of the underlying asset to increase, and puts when they expect the price to decrease. Option contracts come with an expiration date before which the holder needs to exercise their option to buy or sell an underlying asset at an agreed-upon price. The stated price on an option is known as the strike price.

Buyers can choose to exercise their calls and puts or not whereas sellers are obligated according to the buyer decision. Therefore, the sellers (writers) can be exposed to more risk than buyers whose losses can be limited to the premium paid for the contract in the instance they do not exercise the contract. On the other hand, sellers could lose more depending on the Slack Technologies market price.

Slack Technologies ETFs

Exchange Traded Funds (ETFs) enable traders to invest in a basket of securities that trade intraday like individual stocks on an exchange, and are typically designed to track the performance of an existing market or group of markets.

Each ETF is usually focused on a specific sector, asset class, or category. ETFs can be commonly used to help diversify an investment portfolio and create a mini-portfolio, or, for the active trader, they can be used to try and take advantage of price movements.

Slack Technologies is included in various ETF’s with shares in the U.S. ETF market. Traders who are interested in trading other companies alongside Slack Technologies, may consider ETFs.

Where to buy Slack Technologies stock?

Stock trades are processed via a stock exchange, where a stock broker represents each investor. The majority of investors will nowadays use an online stock broker to buy and sell stocks through a stock trading platform which will enable them to connect to the stock exchange. You can see a selection of our best stock brokers below with whom you can open a trading account to trade stocks online.

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ASIC, BVI, CBI, FFAJ, FSA, FSCA

Min $100 Deposit

2006

1:400

Review Trade! Trade!
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2.

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF

Min $250 Deposit

1974

1:200

Review Trade! Trade!
Terms & conditions apply
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. 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.
3.

ASIC, FCA, DFSA, SCB, CySEC

Min $200 Deposit

2010

1:500

Review Trade! Trade!
Terms & conditions apply
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4.

ASIC, CySEC, IFSC

Min $5 Deposit

2009

1:880

Review Trade! Trade!
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
5.

ASIC

Min $200 Deposit

2007

1:500

Review Trade! Trade!
Terms & conditions apply
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Why trade Slack Technologies stock?

Trading the stock market has become a popular investment activity for many people, especially with the technology that we have these days making it more accessible than ever. There are a vast number of trading brokers, trading platforms and trading apps available for buying and selling Slack Technologies stock with relative ease. The cost involved to get started makes trading Slack Technologies stock accessible to traders of all experience levels from across the globe.

The availability of leverage has also contributed towards the increase in aspiring traders. Leverage allows traders to hold a position size greater than they would have been able to without it. E.g. An account balance of $1,000, could take a position size of $5,000 with 1:5 leverage. Whilst this can increase potential profits, it also greatly increases risk. It is therefore of the upmost importance that you have a clear understanding of the significant risks involved with online trading, especially when using leveraged positions.

The majority of traders would look to buy and sell Slack Technologies stock to try and earn profit from the variation in Slack Technologies’s stock price. When trading Slack Technologies CFDs you can speculate long and short on prices rising or falling without actually needing to invest in Slack Technologies shares. This can make it a more convenient trading method for anyone who has a trading account with an online broker. Alternatively, long term investors may purchase traditional shares in Slack Technologies’s stock for a more long-term hold.

Buying Slack Technologies stock can also be a way to diversify a trading portfolio and to hedge against shares in other stocks or investments in other asset classes such as forex, commodities, precious metals and cryptocurrencies.

However, before investing in Slack Technologies, it is important you understand the dynamics that affect the Slack Technologies stock price.

How to trade Slack Technologies stock online?

If you have taken the time to read through the above, you should hopefully have an understanding of how to trade Slack Technologies stock online. Here is a summary of the key steps:

1.     Decide if trading Slack Technologies stock is for you

Trading Slack Technologies stock online carries an element of risk and can take more time than other forms of investing. You will need to research the company, manage your positions, follow market news and decide how to react to it. It is important to understand the risks and dedication that comes with trading Slack Technologies stock online.

2.     Educate yourself

Before trading Slack Technologies stock, it is imperative to learn as much as possible about investing and trading online. Any mistake could prove to be costly. There is an abundance of free educational materials provided by many online brokers that can help you to improve your trading skills and knowledge.

Most brokerages will also provide a free demo trading account so that you can practice trading Slack Technologies stock online with virtual funds in order to familiarise yourself with the trading platforms and practice your trading strategies until you feel confident enough to open a real trading account.

3.     Choose a Slack Technologies stock broker

In order to trade Slack Technologies stock online, you will need a broker account and trading platform to execute your trade positions through to the market. When choosing a broker, there are a few important things to consider such as regulation, commission fees, platforms, tools, education, funding options and customer support.

If you do not have the time to research brokers, you can see a list of our best brokers that we have already prepared to help traders. If you would like to know more, you can also view our detailed guide on how to choose a trading broker.

4.     Research Slack Technologies

If you have made it this far then you may be ready to start trading Slack Technologies stock online! The next step is to research Slack Technologies to help increase your knowledge in the company. The best brokers should have this information conveniently displayed for you within their trading platform.

5.     Have a trading plan

Some of the most important factors that can help determine Slack Technologies stock trading performance can be the trading plan and discipline. It is important to have a solid trading plan personalised to your own needs that includes the money management and trading strategy that you will use. Most experts and professional traders would try to not let negative emotions such as fear, anger and greed affect their trading strategy.

6.     Buy and sell Slack Technologies stock

Once you feel ready to trade Slack Technologies stock online, you can analyse the market to help decide if and when you will place your trades. After placing a trade on Slack Technologies, you will need to keep track of how it performs and manage it according to your trading plan. Some investors will keep hold of Slack Technologies trades for the long-term, whereas traders may buy and sell Slack Technologies stock on a daily basis.

Is trading Slack Technologies stock right for me?

Trading Slack Technologies stock is a popular choice for long-term investors and active traders. It can be suitable for scalping, day trading and swing trading. Traders who would usually trade forex, trade indices, trade commodities, trade cryptocurrency, may look to diversify their portfolio.

However, it is important to understand the significant risks involved with trading Slack Technologies stock online, especially when using leveraged positions. Most experts would suggest trading on a demo account with virtual funds to begin with.

This can be a useful way to familiarise yourself with how to trade Slack Technologies stock and using trading platforms whilst allowing you to practice your trading strategies until you feel confident and produce consistent results. Most stock brokers provide unlimited demo accounts free of charge.

Not sure which Slack Technologies broker to trade online with?

If you are still unsure which Slack Technologies stock broker is the best for you to trade online with then you can use our free online broker comparison tool to quickly compare brokers based on regulations, minimum deposit, leverage, spreads, commissions, funding options and more. You can also read our broker reviews and choose from our best brokers, best trading platforms, best social trading platforms and best trading apps. If you would like to look for the best trading brokers in a particular country, we have pages dedicated to our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa and best brokers Canada.

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