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Easy Trading With Small Investments?


blizeH
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Hi,

My girlfriend has a certain passion for this type of thing, but is too scared to invest anything.

Are there any sites that make trading a cinch (ie very clear and easy to navigate website) but also let you start from very small amounts? ie. a starting point of no more than £200-£300.

I'm thinking if I could encourage her to at least give it a try, it'd give her a chance to test the waters so to speak and put her knowledge into good use. If she lost, I would of course offer to give her the money back since I'd be the one encouraging her to try it :)

Thanks

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Hi,

My girlfriend has a certain passion for this type of thing, but is too scared to invest anything.

Are there any sites that make trading a cinch (ie very clear and easy to navigate website) but also let you start from very small amounts? ie. a starting point of no more than £200-£300.

I'm thinking if I could encourage her to at least give it a try, it'd give her a chance to test the waters so to speak and put her knowledge into good use. If she lost, I would of course offer to give her the money back since I'd be the one encouraging her to try it :)

Thanks

I've looked at trading small amounts and it doesn't seem worth it - you're looking at £10ish per trade which is too much overhead when you're only doing £2-300 at a time?

Why not just do pretend trading - use a yahoo account or iii.co.uk and you can add shares / funds / etfs to track their prices. You can pretend you have 300 shares in Apple or whatever and watch the value go up and down without putting any real money on the line.

If you can do that for a few months without ending up -ve then maybe you might be happier with it?

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Thanks, that's not a bad suggestion - her mum did something similar (a year long competition in the Guardian or something? She did well and won a decent prize) which is possibly what helped get my girlfriend into it.

It would be depressing if you make loads, then get into it for real and start losing though. Shame there's no easier way into it with small amounts (ie avoiding Apple for a start!)

Cheers

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I don't want to scare her... I went onto those sites (for real) and invested in silver last week which has been more than scary enough! :D

I just want her to be able to test her knowledge and see if she can put it to good use, unlike myself she actually seems to have a good grasp of these things.

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  • 2 weeks later...

As people have commented above there are any number of sites that offer dummy trade functionality, and I do agree that it's worth doing.

That said, you don't get the emotional attachment to dummy trades that you'll get with real ones; take silver this week - on a dummy trading account you'd probably have cut your losses and run, because it's not real money. If you were invested, you would have had some serious turmoil going on, and would have been more likely to hold onto it, believing / hoping / praying that it couldn't go any lower.

Spread betting with guaranteed stops and very small per pip bets are a good way to get a feel for the emotion. IGIndex will let you spread bet from as little as 10p/p to start with, and I bet your good lady would notice a difference even trading that amount.

And as others have commented, £200-300 a month isn't worth wasting a commission fee on - whack it in a spreadsheet and look at the % move to break even, and you'll see why.

But go for it - hope you and she have a lot of fun and hopefully some profits :)

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