Hello, I'm looking into buying shares online (a relatively small amount to Invest in order to supplement my income) but not sure where to start. As I'm A beginner, I'd probably want low risks.
What websites have helpful material on this for beginners? What are the kinds of costs or taxation involved?
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Talk to stock brokers in your area since you are UK, I'm not sure what brokers have low cost options you are looking for. I know a few brokers here in the US have minimums of $500 while others have no minimums. Investing in small amounts is not necessarly wise either unless you have a plan similar to Sharebuilder here in the us. For the transaction fees will add up quickly.
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Other Answers (4)
- There are various websites that provide share information and investment news, Citywire and Bloomberg to name a couple. Online stock brokers such as Hargreaves Lansdown also have this sort of information and you can deal through their online system.
Stock broking accounts generally cost a couple of hundred pounds a year to run and deals cost around 1% of the amount invested capped at £50.
If you are just starting out you might consider funds such as unit trusts instead. You can achieve better diversification from as little as £50 per month and by investing in unit trusts the fund manager makes the buy and sell decisions for you.
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please go to http://www.unbiased.co.ukSource(s):
Danny Cox, Certified Financial Planner, Hargreaves Lansdown
Chartered Financial Planner, Certified Financial Planner and heads the advisory team at Hargreaves Lansdown. Danny is the Money Marketing Best Retirement Planner 2007 and Financial Adviser SIPP Adviser of the Year 2007.0% 0 Votes - Yes, answer 1 is good advice.
Think to yourself: what is your objective? You say to supplement your income. Most shares have low yields (they are mainly for growth) although there are some high yielding shares. But even with fairly low online charges a 'relatively small' investment will be eaten up with costs.
I can only suggest you try ths Q&A or the forum on http://www.shareworld.co.uk but there are plenty of other, similar sites around0% 0 Votes - hi there
I sense that you are newbie so I suggest you gnutrade trading platform where you can register for free and trade the markets with play money to gain experience and once you feel confident then go ahead with real money...
Learning center of gnutrade will help you in many ways to understand stock markets in detail...
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good luck and go ahead
all the bestSource(s):
gnutrade: learning center & gnutrade: learn-to-trade-like-a-professional0% 0 Votes -
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