Stocks and Shares query

book12

As well as having other savings account like instant access, monthly saver, and cash ISAs, I want to try to invest my money in stocks and shares. I have a few questions on this:

1. Does it mater what bank I go with to open a stocks and shares account?
2. I don't know what kind of stocks and shares account to open? When I go to some banks website, there are lots of them, and not sure which ones suits my needs.
3. What is the minimum amount to invest in stocks and shares?
4. Investment ISA - what is it? I only know that I could invest up to £7000 something per tax year. That's all I know.

Lokolo

If you don't know anything don't go for it.

Read some basic investing books first:

Investing for Dummies is one.
http://www.amazon.co.uk/Investing-Dummies-Tony-Levene/dp/0470992808

mickymellon

Lokolo wrote: »

If you don't know anything don't go for it.

Read some basic investing books first:

Investing for Dummies is one.
http://www.amazon.co.uk/Investing-Dummies-Tony-Levene/dp/0470992808

that is a bit too America biased, I recommend and suggest

The Naked Trader written by a bald guy who likes tea and toast :money:

jfpeeps

I am just learning my way and got the naked trader, it is def the place to start.

CLAPTON

book12 wrote: »

As well as having other savings account like instant access, monthly saver, and cash ISAs, I want to try to invest my money in stocks and shares. I have a few questions on this:

1. Does it mater what bank I go with to open a stocks and shares account?
2. I don't know what kind of stocks and shares account to open? When I go to some banks website, there are lots of them, and not sure which ones suits my needs.
3. What is the minimum amount to invest in stocks and shares?
4. Investment ISA - what is it? I only know that I could invest up to £7000 something per tax year. That's all I know.

set up a 'fantasy' share portfolio and play with that for a few months before even thinking about real investments... there are a lot of sites offering this free service try
www.iii.co.uk
or www.advfn.com

Jennifer_Jane

Was going to post what Clapton did, and it really helps to watch some shares to see how they 'work'. I also like iii.co.uk.

If you want to risk money on S&S, then I would go into an S&S ISA (ie unit trusts within an ISA wrapper) and I'm sure you'll find some ideas around this forum. But certainly be prepared to drop money (usually 5% buy/sell difference on unit trusts), and even lose it. It is 'considered' gambling. If you go into a specific share, then know how to get out and have a stop/loss and stick to it.

Best of luck - it's possibly a good time to take out an S&S ISA.

Jen
x

Lokolo

mickymellon wrote: »

that is a bit too America biased, I recommend and suggest

The Naked Trader written by a bald guy who likes tea and toast :money:

Its an English book... hence why its .co.uk Amazon, not .com amazing. I have read the book myself.

JoeCrystal

Thank CLAPTON & Jennifer_Jane. I already registered myself and set up fantasy portfolio.

Looking at Interactive Investor Portfolio Builder, I was surprised to see low commission cost of £1.50 although you can only buy shares on one day. Is it any good I wonder?