Investing £200K for an income?? Please help

Quarantz

Mattyd wrote:

Well I have now registered with https://www.Squaregain.com :j

The discount for buying funds is huge :T Down form 5% to 1.05%

I am going to monitor a few funds shares etc for a while and see how things progress. I am a little nervous about jumping straight in so might just experiment for a few months :rolleyes:

Do I understand correctly? You pay between 1.05% and 5% to buying and selling funds/stocks? If so, you are ripped off.

Mattyd_3

I was on about buying funds. The fee for buying shares is £12.50 per transaction + Stampduty. :mad: (0.5%).

How much do you buy them for?

And on the topic of trading I am really enjoying researching all of the companies etc. And monitoring the funds etc.

Quarantz

I pay € 10 + 0.1% and less (10 + 0.1% is the highest when I would barely trade at all) for trades on all EU-markets and the swiss exchange (so approx 7 GBP + 0.1 % as the max). For NYSE, Nasdaq ans AMEX I pay € 10 (approx 7 GBP + 0.25 % with a 30 € minimum (21 GBP). This is when I want the stocks for real. Normally I use a lot of other instruments like CFD's etc on which you only have bits and pieces as actual costs. Plus they deliver a much higher return.

EdInvestor

In the UK the cheapest broker for buying shares is Halifax Sharebuilder which uses a pooled system and only charges 1.50. (Selling is much more expensive). You can get lower rates than Squaregain at some other brokers (eg Hoodless Brennan) espcially if you trade a lot (great way to lose money!)

But Squaregain has an overall fee of only 25 quid to cover all ISAs and PEPs which attracts many and also is rated as having the best overall service.There's a recent thread about Bestinvest which has a lot of info about other discount brokers on it as well.

Clasics

Not forgetting Squaregain are also offering a very nice incentive to get your friends signed up with them, namely £50 for you and £50 for your friend. I know this pales somewhat when talking about sums invested of £200,000 etc. but I signed up to Squaregain (actually they were called comdirect at the time) a few years ago and managed to extract £1300 in total as a 'thank you'. Decent 'income' for very little work!

Here's the relevant wording:

All they need to do is open an account and then:
make one trade worth at least £500
or
transfer an account from another broker
or
deposit some share certificates worth at least £500
by no later than 1st July 2006.


Squaregain will make the £50 payments to you both once the condition has been fulfilled. (Please note that there are no restrictions on the number of introductions that you may make to Squaregain .)