Opening a share dealing account
Ader1
Posts: 420 Forumite
As the title says, I would like to open a share dealing account. I won't be buying and selling shares that frequently so could you please advise me on which company to open an account with? If I get an answer to this, I will then have one or two other questions to ask. Thank you.
P.S. I did buy and sell some shares around 15 years ago. If I remember correctly I was with Sharecrazy and I think Halifax but I'm not entirely sure.
P.S. I did buy and sell some shares around 15 years ago. If I remember correctly I was with Sharecrazy and I think Halifax but I'm not entirely sure.
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Comments
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ISA, Sipp, or just dealing?
How much are you investing, shares, ITs, ETFs unit trusts?
Timescales? What for, retirement, house purchase, fun?
That will help us answer your question? Cheers fj0 -
OK thanks for the reply.
I think just deal. I am not sure how and ISA works. Can you buy and sell shares within and ISA many times? Some purchases could be for a long time. I have over £100 k in cash lying around doing nothing. I have been thinking of amongst some shares purchasing a couple of ETFs. I have a house which is paid for. I suppose it would be for a retirement......certainly not for fun.0 -
I suppose it would be for a retirement......certainly not for fun.
Prime candidate for saving into a pension instead.
I find when I take it seriously, I lose money, because I try to make it back. When I'm relaxed about it, I don't throw good money after bad.
£50k qualifies you for HSBC Premier, hence InvestDirect (or Plus).
It's got a daily trade limit of £10,200, unless you call up to deal manually.
No covered options, no futures, no spread betting.
Kind of Archaic and limited, but Nice and safe.0 -
OK thanks for the reply.
I think just deal. I am not sure how and ISA works. Can you buy and sell shares within and ISA many times? Some purchases could be for a long time. I have over £100 k in cash lying around doing nothing. I have been thinking of amongst some shares purchasing a couple of ETFs. I have a house which is paid for. I suppose it would be for a retirement......certainly not for fun.
Then open SIPP and get the tax relief on your investments.0 -
With £100k you should see an IFA.
I say that because you don't know what an ISA is or how it works.
An IFA will explain one it all works and put you on the right path to achieve your objectives. Once it's all setup you can ditch the IFA and carry on yourself if you think you can do better.
If you're interested in how this all works then you're on a good path to take over your own financial affairs. Good luck fj0 -
Monevator has a list of stock broker and fund platforms and much more, so you could work out which would be cheapest for you, given your expected trading pattern.
Many of the platforms do SIPP, ISA and taxable trading accounts, some even only charge one set of fees.
ISA's exempt their contents from income (dividend) and Capital Gains taxes. You can buy and sell within an ISA account as often as you like without affecting their tax status.Eco Miser
Saving money for well over half a century0
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