Buying Shares Getting Started

GingeG

Hi all

I am a complete novice at this but I want to start buying some shares but not through a broker (avoid the fees).

Can it be done and if so where?

If not does anyone know any good low cost brokers.

carnet

Halifax Sharebuilder is, AFAIK, the cheapest available sharedealing facility ;

http://www.halifax.co.uk/sharedealing/sharebuilder.shtml

cheerfulcat

GingeG wrote:

Hi all

I am a complete novice at this but I want to start buying some shares but not through a broker (avoid the fees).

Can it be done and if so where?

If not does anyone know any good low cost brokers.

You can't avoid the broker's fees, I'm afraid. Don't forget the tax, as well - 0.5% stamp duty on every purchase.

The Halifax Sharebuilder account is, as mentioned, currently the cheapest for *buying* shares; the selling charges are less competetive. If you don't need to time the buying of the shares ( the Sharebuilder system pools clients' money and buys in batches on certain days ), it's probably the best for starting out, especially if you are dealing with smallish amounts.

Squaregain charges £12.50 per deal, has a good research facility and a decent portfolio system. Barclays charge from £7.50 for frequent traders. Moneysupermarket.com has more in-depth info.

HTH

Cheerfulcat

EDIT: You can avoid some fees and stamp duty by buying ishares - exchange traded funds or ETFs for short - within a Squaregain ISA. The ISA wrapper costs £25/year and you pay no purchase costs or stamp duty (£12.50 for sales ). ETFs are based on baskets of shares - they act like trackers, and you can track various markets and indices with them. They are very useful for investing smaller amounts, or for taking a position in an area without buying individual shares or funds.

MickKnipfler

I use HoodlesBrennan.

Are you looking at an ISA or freestanding shares?

GingeG

MickKnipfler wrote:

I use HoodlesBrennan.

Are you looking at an ISA or freestanding shares?

I guess freestanding all I want to do is buy a few hundred quids worth in a couple of companies.

Say 250 Shell, 250 BA can you not buy them straight from the company then??

cheerfulcat

To be honest, GingeG, I think that you need to do an awful lot more research before you start buying shares! Try the Motley Fool for a good starting point. You could also look at Incademy

Investors Chronicle has some free content - if you like the look of it, you could go to the newsagent and buy ( or browse ) a hard copy.

MickKnipfler

Hoodles Brennan I think are £7.50 per trade.

I agree with cheerfulcat though, investing in shares isn't for beginners. Be careful.

GingeG

OK Thanks for the advice guys.

ReportInvestor

Regular savings are means of reducing (some of the) risk for first time investors in the stock market.

I think Deemy's idea is a good one and many Investment Trusts offer relatively cheap regular savings schemes.

GingeG

ReportInvestor wrote:

Regular savings are means of reducing (some of the) risk for first time investors in the stock market.

I think Deemy's idea is a good one and many Investment Trusts offer relatively cheap regular savings schemes.

happy with that howvere I have already maxed out my cash ISA and I regularly save in two bonus accounts so what I want now is a bit of share action.

I think that there are certain companies who will make serious greenback over next few years and I want shares in them all I am asking is how do I buy some and where do I put them.

If I am right I buy through a broker and then put them in a Stocks and Shares ISA

If Im wrong can someone help me oh and buy the way Deemy have you bought a house yet?????

ReportInvestor

If you want shares in all the companies that are going to make "serious greenback" over the next few years you are probably on the wrong site.

It sounds like you need a broker who operates an ISA.

Set this up and then buy the shares, not the other way round.