Share dealing accounts

sheffield_lad

melly1980 wrote: »

Sorry to keep asking questions...

If I go down this route can I essentially have a share trading account open with little or no balance in it at all then choose the trades as above via a debit card.

Hello again Melly, I have a Halifax share dealing and do pretty much that (taking money in and out), in via debit card and out via transfer to bank.

When I first opened the account it took a couple of days before the money showed in the account but now they know me its more or less instantly in ready to trade. Getting it back out normally takes a few days.

If your not up to much tomorrow check out www.lse.co.uk plenty of different share boards on there from FTSE to small AIM's not suggesting you invest in something but if you look at an active board (maybe one with good/bad news that day you may see how investors decide on information. I have learnt plenty from guys on there and have a far better understanding of how it all works. I even opened a level 2 account to see what was happening in real time.

GL

melly1980

Right. I have my battle plan - or at least I think so :rotfl:

Critisise away because this thread has been most useful and I am grateful for the input.

I have 10K ish, I had already decided to split this 50/50 which is where the 5K number came from for investment.

5K to an ISA (most of that is there already)

The remaining 5K will be split 3.5K to a FTSE 100 tracker and 1.5K for my entertainment in investing myself. Due to the low amount and costs I will invest either 1 x 1500 or 2 x 750 in some carefully selected stocks.

Timing - I fully believe that the FTSE 100 will hit the 4500 mark sometime in the first 6 months of next year, possibly lower. I will look roughly at this point to track it.

During this time I will play with my pretend account and do some research into what companies to invest in, analysis of sectors etc etc and if im confident will buy my whopping 2 lots of £750 shares next year sometime.

As a last question (honest) - if my FTSE tracker effectively has some shares in all of the top 100 should I avoid the top 100 for my 2 personal investments or invest further in ones within the top 100 if I thought them worthy?

cheers all.

Linton

melly1980 wrote: »

Right. I have my battle plan - or at least I think so :rotfl:

Critisise away because this thread has been most useful and I am grateful for the input.

I have 10K ish, I had already decided to split this 50/50 which is where the 5K number came from for investment.

5K to an ISA (most of that is there already)

The remaining 5K will be split 3.5K to a FTSE 100 tracker and 1.5K for my entertainment in investing myself. Due to the low amount and costs I will invest either 1 x 1500 or 2 x 750 in some carefully selected stocks.

Timing - I fully believe that the FTSE 100 will hit the 4500 mark sometime in the first 6 months of next year, possibly lower. I will look roughly at this point to track it.

During this time I will play with my pretend account and do some research into what companies to invest in, analysis of sectors etc etc and if im confident will buy my whopping 2 lots of £750 shares next year sometime.

As a last question (honest) - if my FTSE tracker effectively has some shares in all of the top 100 should I avoid the top 100 for my 2 personal investments or invest further in ones within the top 100 if I thought them worthy?

cheers all.

You should put the investment 5K in an S&S ISA. Apart from the avoidance of Capital Gains Tax when your investing is briliantly successful it also means you dont need to keep detailed records of your dealings for the tax man - much less hassle.

Your non FTSE100 tracker monies should, IMHO, be used for something completely different. Perhaps from work you have some knowledge of a particular industry and know which are the up and coming smaller companies. Or you could invest in something abroad,the Far East for example.

Glen_Clark

Linton wrote: »

You should put the investment 5K in an S&S ISA. Apart from the avoidance of Capital Gains Tax when your investing is briliantly successful it also means you dont need to keep detailed records of your dealings for the tax man - much less hassle.
.

£5k in a Stocks and Shares ISA is not going to make enough to make him liable for Capital Gains Tax, so whats the point of paying the extra management charge?
He won't have to declare it to the Tax Man unless its over the CGT threshold, which it won't be.

Linton

Glen_Clark wrote: »

£5k in a Stocks and Shares ISA is not going to make enough to make him liable for Capital Gains Tax, so whats the point of paying the extra management charge?
He won't have to declare it to the Tax Man unless its over the CGT threshold, which it won't be.

What extra management charge? iii dont have one, I think that is the same for most online brokers/fund supermarkets

gadgetmind

Linton wrote: »

What extra management charge? iii dont have one, I think that is the same for most online brokers/fund supermarkets

Not for holding funds in an ISA, but many do for holding trackers, ETFs and individual shares.

Just_landed

Linton wrote: »

What extra management charge? iii dont have one, I think that is the same for most online brokers/fund supermarkets

Some brokers have an annual charge, also some charge to take shares out / away from themselves and closing S & S Isa accounts ect.