Halifax Sharedealing

$nake_eye$

Hi,

A friend of mine uses a Halifax Share Dealing service whereby he has £25 debited from his account every month which goes into a pot. He then chooses shares through the sight to that amount (with £1.50 commision on each transaction) Just wantedto know if anyone else uses this as an investment tool or if anywhere offers a better service. Im thinking of signing up for it as he seems to have built a respectable portfolio and follows the best buys within the site as to which company to invest it.

Any feedback / advice would be appeciated.

Thanks

cheerfulcat

Have a look round the Motley Fool's dedicated Sharebuilder board. The MF's own version of the Sharebuilder is worth a look, too, especially since unlike the Halifax one, you can use it within an ISA.

$nake_eye$

Thanks Cat, ill have a look into them

Jonesya

My objection would be buying the shares in such small lots - if you're funding the account with £25 a month and £1.50 of that is going in trading costs then you've lost 6% of your investment before you've started and that's ignoring stamp duty. Personally, I'd aim to buy in bigger lots - every other month / every 3 months to reduce the fees take. Plus it gives you more time to think about and analyse what you're going to buy.

Oh, consider buying yourself a copy of "The Intelligent Investor" by Benjamin Graham it's a very interesting read.

gt94sss2

cheerfulcat wrote:

The MF's own version of the Sharebuilder is worth a look, too, especially since unlike the Halifax one, you can use it within an ISA.

Yes, the Motley Fool's version is better value as they also charge you less to sell your shares (though both are operated by the Halifax)

Regards
Sunil