🧭 How to invest from scratch
If you've never bought an asset in your life and get lost with "ticker", "brokerage", "home broker" and "advisor", this page is your starting point. We'll demystify everything, one term at a time.
🏛️ What is the stock exchange
The stock exchange is the "marketplace" where shares of companies, real estate investment funds, and other assets are bought and sold. In Brazil there is only one, called B3 (located in São Paulo). It's like a big marketplace: on one side people who want to sell, on the other people who want to buy, and the price comes from where the two sides meet.
You don't go there physically. Everything happens online, in seconds, through a brokerage.
🏦 What is a brokerage
The brokerage (corretora) is the company that gives you access to the exchange. You open an account there (free, 100% on your phone), transfer your money and use their app to buy and sell. Without a brokerage you can't trade on the exchange.
There are independent brokerages (XP, Rico, BTG, Clear, NuInvest, Inter, Ágora) and traditional banks, which today also have a built-in brokerage in their own app (Itaú, Bradesco, Santander, Nubank). For beginners, using the brokerage tied to a bank you already have is usually the simplest path — the money doesn't even need to leave the same place.
Opening an account is quick: a photo of your ID, a selfie, a few details and you're done. There's no monthly fee to keep the account open.
🏷️ What is a ticker
Each asset on the exchange has a short code that identifies it — that's the ticker (also called the "trading code"). It works like a license plate: it's unique and lets you find and trade exactly that asset.
The best part is that the ticker format already tells you what type of asset it is. Look at the end of the code:
| Asset type | Ticker format | Examples |
|---|---|---|
| Stock | 4 letters + number (3, 4…) | PETR4 VALE3 ITUB4 |
| Brazilian REIT (FII) | 4 letters + 11 | XPML11 MXRF11 HGLG11 |
| BDR (foreign asset) | 4 letters + 34/35/39 | BTLT39 AAPL34 |
| ETF (basket of assets) | 4 letters + 11 | BOVA11 IVVB11 |
Both Brazilian REITs and ETFs use the ending 11. So whenever you see a code ending in 11, you already know it's a fund (real estate or a basket of assets), not a single stock. For FIIs, this is the standard: MXRF11, KNRI11, VISC11 and so on.
👔 What is an investment advisor
An advisor (assessor) is a professional tied to a brokerage who serves you, answers questions and suggests products. They can be useful when you have a larger amount and want company in making decisions. But pay attention to one important point:
- The advisor doesn't charge you directly — they earn a share of what the brokerage makes from your investments. This creates a potential conflict of interest: they may prefer to recommend the product that pays them the most, not necessarily the best one for you.
- There is also the independent financial planner (consultor independente), who charges you a flat fee and therefore has no such conflict — but costs more.
You don't need an advisor to take your first steps. With a small amount, you can do everything on your own through the brokerage app. Learning the basics (which is the goal of this guide) already puts you ahead. Advisory services make more sense later, when you have a larger portfolio.
🖥️ How to place your first order (step by step)
Buying an asset is simpler than it sounds. The app where this happens is called the home broker (brokerage app). The process is always the same:
- Open an account at a brokerage (or activate the one linked to your bank). Takes a few minutes.
- Transfer money to the brokerage account via bank transfer or Pix. It becomes available to invest.
- Search for the asset by ticker in the home broker. E.g.: type
MXRF11for a REIT,BTLT39for the TLT BDR. - Place a buy order: enter how many shares you want and at what price. If you want to buy "at market", it executes at the current price.
- Confirm. Done — the asset appears in your portfolio. Selling later is the same process, on the sell tab.
The exchange operates on business days, normally from 10 am to 5 pm Brasília time (the "pregão" / trading session). Outside those hours you can still submit orders, but they only execute when the market opens.
💸 What it costs (the costs nobody explains)
- Brokerage fee: a fee per order. Today most brokerages waive this for stocks and REITs — check before you start.
- B3 fees: small custody/settlement fees, usually a few cents.
- Income tax: on the profit when you sell (not on the amount you invest). REIT monthly income is tax-exempt for individuals; capital gains have their own rules. Worth studying as you progress.
Now that the terms no longer scare you, go learn about each asset: what it is, the risk and when it makes sense to buy. Start with the lower-risk ones and work your way up.