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Easiest Way To Buy Shares?

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Could one of HPC'c Stockmarket/Investing gurus please tell me the simplest and least expensive way for a novice to purchase shares?

Believe it or not, I'm thinking of taking a punt on RBS shares, who knows it may be worth it.

Mods, apologies if this is in the wrong forum however, please leave it in the main forum for a couple of hours, thank you.

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Could one of HPC'c Stockmarket/Investing gurus please tell me the simplest and least expensive way for a novice to purchase shares?

Believe it or not, I'm thinking of taking a punt on RBS shares, who knows it may be worth it.

Mods, apologies if this is in the wrong forum however, please leave it in the main forum for a couple of hours, thank you.

Open an account with any of these:

http://www.independentinvestor.co.uk/share-dealing/compare-brokers.php

If you don't already have an ISA and you want to invest less than 10,680 then open a stocks & shares ISA account rather than a vanilla brokerage account as any dividends or capital gains (assuming you make any) will then be tax free.

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One thing you should be aware of a lot of these are 'nominee accounts', which means you never really own the shares (and dont get any shareholder perks)

Stocktrade are one of the few who will allow you to get full Crest membership, it does cost £40 per year though

http://www.stocktradebroking.co.uk/commission.asp

Of all the stockbrokers I have tried stocktrade were the best, but they are pricy for dealing in foreign stocks.

TD waterhouse - website I found impossible to use, just had to give up in the end.

SELFTrade and RBOS will hit you with hidden fees.

A lot of stockbrokers only want people who buy and sell constantly, they don't make enough commision if you just buy and hold.

It still amazes me that after all these years of electronic share dealing we still have a worse deal (annual fees etc) than when it was all paper certificates.

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Barclays have launched a new mass market platform. It is about £13.50 to trade and you can access just about any market. Search for Barclays Market Master.

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There are plenty of companies offering share trading platforms. The more well known ones tend to be slightly more expensive.

Before jumping into an ISA I would consider whether this is necessarily the best method.

From a tax point of view an ISA is simpler because you simply don't have to think about it.. BUT there are usually fees associated with an ISA account that you don't get with a normal trading account.. plus the benefits aren't that great when you consider you can make a capital gain of around £10k a year before you start paying tax. So provided you don't go over this it simply comes down to whether the ISA fees (often hidden) are greater than the tax you will pay on the dividends.

I would think about how much you are going to invest.. if it is not a huge amount there is probably little to gain from an ISA IMHO.

Going back to your original question, if you open a regular trading account it is a bit like opening a bank account. You get a log-in and then deposit money in your account.

Once the money is in you can buy/sell shares and you see a list of your holdings and their current value. If you want to liquidate the lot you sell all the shares and it will tell you your cash balance (hopefully more than you started with.. or not).. then you take the money out just like with a normal bank account.

I'm not a financial advisor.. meerkats go down as well as up .. etc etc.. good luck.

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Could one of HPC'c Stockmarket/Investing gurus please tell me the simplest and least expensive way for a novice to purchase shares?

Believe it or not, I'm thinking of taking a punt on RBS shares, who knows it may be worth it.

Mods, apologies if this is in the wrong forum however, please leave it in the main forum for a couple of hours, thank you.

.svssecurities.com

no fees, apart for 5.95 a trade, the first 30s of opening the account cost £1 per trade the cheapest you'll ever get, forget about all the others this will save you money.

Edited by crash2006

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www.iii.co.uk

£10 per trade. Instant funding by debit card. No extra charges to hold in an ISA

Simple interface. Decent forums and data (accessible from Android with free SharePrice app)

HTH

Edited by 23rdian

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Thanks to all who posted for taking the time to reply and the guidance given, it's appreciated.

I'll now spend some time trying to digest the information and how best to act on it.

Thanks again.

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One thing you should be aware of a lot of these are 'nominee accounts', which means you never really own the shares (and dont get any shareholder perks)

There are advantages to nominee accounts - like not having lots of paper to worry about, and having nice online tools to work with. But mostly they're a requirement for a SIPP or ISA.

If your shares are outside a SIPP or ISA, you can hold them certificated: it's just not typically the default option with brokers who run a platform.

A lot of stockbrokers only want people who buy and sell constantly, they don't make enough commision if you just buy and hold.

It still amazes me that after all these years of electronic share dealing we still have a worse deal (annual fees etc) than when it was all paper certificates.

Huh? If your fees now are half as bad as they were last century, you're with the wrong provider! The likes of H-L have brought them down a long way!

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