Buying Shares Online - Advice needed!

Moothead2

Hi,

I'm thinking about investing in shares but I'm completely new to this. I'm thinking about doing it online through x-o.co.uk and so my first question is, how safe is this website, has anyone had any first hand experience with this website in the past? Also, what is a Nominee Share dealing Account and would I be better off choosing this or an ISA account?

Thanks .

chris_m

I've had no problems with them, on the contrary I've found them very good.

AFAIK the only difference between the nominee account and the ISA is that you can only put so much into the ISA per year (£10Kish, less if you also contribute to a cash ISA elsewhere since the £10Kish is the maximum total that may be put into ISAs) but in return pay no tax on any gains you make.

The nominee account has no funding limit but any gains may be liable for tax.

You do need to be aware that not all stocks can be held in an ISA - for example, most AIM-listed stocks are excluded unless they are listed on another stock exchange as well as London. However, of you are only considering FTSE100 or FTSE250 shares this shouldn't be a problem for you.

bigfreddiel

Moothead2 wrote: »

Hi,

I'm thinking about investing in shares but I'm completely new to this.

before you start do you have some ideas on the shares you're going to invest in - do you have a strategy or a target on what you expect your investments to do i.e. is it for income or growth, what sector(s) or areasare you interested in, and whar research have you done.

if you buy shares for no specific reason reason you're doomed to fail.

and remember the value of your investments will fall at sometimeduring the investing cycle, can you cope with that without panic selling.

anyway good luck - let us all know how you get on

fj

r192

i have just started using halifax share builder 2 pound charge per trade plus 0.5% stamp duty no on going amcs, very good service so far and you can invest as little as 20 quid per trade. very good i would do alot of research and make goals, i.e long term investing in companies with high dividend payouts or high risk investments that may make you a quick buck, also on halifax site you can sign up for a fantasy trader account where you can invest with virtual money and see how you get on

chris_m

r192 wrote: »

i have just started using halifax share builder 2 pound charge per trade

Looks more like £11.95 per trade according to their site - is this £2/trade the regular investment thing?

r192

yes it is 2 pound though the regular investment but you only have to make 1 investment there is no tie or or contract to pay in each month , year etc, very good