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Am interested in starting in trading as a DIY using an online platform. Have been monitoring a few companies etc for a few months so have an idea of what I would like to buy. Mainly unsure of which platform to go with as costs seem to vary based on frequency of trading etc. I would be more inclined to purchase up to 20 key stocks and then monitor and maintain rather than do frequent monthly trades due to work schedule and internet access. Any advice appreciated.
If you run a search you will find a few threads on this.
Ok thanks, will do
Just do what my friend Warren Buffet told me. Buy Low Sell High 😆
I use shareview at 12.5 gbp per trade, 15 gbp annual fee to manage the isa.
Not really a frequent trader but if i changed to a low cost platform i would probably become one.
Share dealing guide on MoneySavingExpert.
I use http://www.iii.co.uk/ £20 a quarter but the money is credited towards trades which are £10 each. You can hold your shares in an ISA or Standard account or indeed both. Not the slickest website but probably one of the cheapest.
I use iII also. found them to be very good. SIPP and ISA.
You might wamt to look at the iShare platform and think about merit of trading individual companies vs bigger picture asset allocation decisions eg sector by sector and country by country. Maybe a bit if both ?
I am “talking my book” as I prefer the sector/country style than trying to pick individual winners
I'm interested in opinions too, and also in investment platforms such as hl, fidelity, etc, and comparing fees, flexibility, whether they allow cash pots incase the market goes pear shaped and you need to shift to cash or something less risk in a hurry...
They all allow cash pots, it's just un-invested money in your account. You don't get any interest on it though.
The cash pot sitting there earning nothing is effectively your insurance against falling stock prices. I always keep some cashand have bids on to buy stocks i like at lower than current market prices.
Also consider parking cash in a fund with a good income stream, i have property one which pays monthly and has no stamp duty on purchase. So i dip in and out of it as the price fluctuates. I cannot recommend it but questor in the telegraph feb 17 tipped it.
Only buy what you understand and what you feel confident in.
20 stocks seems excessive.
The Motley Fool is a good resource. For U.S Stocks anyway.
Be aware that Donald Trump could wipe out all your money in one ill-judged Twitter post. This is very likely.
“Cash pots” just be aware that these trading platforms do not provide deposit protection insurance, ie if the trading platform goes bust you will lose your cash - your shares should be safe though. Personally I would not keep substantial cash balances in one, would transfer out to my bank then back again when needed.
Cash pots” just be aware that these trading platforms do not provide deposit protection insurance, ie if the trading platform goes bust you will lose your cash
OP. This is absolute bollocks. Check the compensation arrangements for whoever you decide to invest with. They will provide a level of protection for your cash balance.