Want to get into stocks/shares

dan~_2

Hiya, I've always wanted to get into stocks/shares - which ever it is.

I have around £500-700 I could easily lose without being depressed, and as I'm new to it all I can expect that.

I've had my eye on joining III.co.uk but they do a £80 pa fee now it seems.

What I want to do is put a few hundread in a few companies and pretty much leave it, log in daily and check and sell at the right point to make a few pound in profit.

I don't want to be paying £80, as other 2 years that £160 wasted, and I might aswell not join and I've 'made' £160 :rotfl:

Is x-o.co.uk the best people to go with for my needs?

As I'm new to stocks I need to clarify the following

- If I buy £300 of shares in a company I get charged £5.95 for the transaction?

- Say I want to remove my money from the company I pay £15.50 to transfer out?

Its the transfer out bit I don't understand, it says £15.50 per share, so if I had 10 shares in a company I'd have to pay £155? thats got to be wrong?

Thanks

Reaper

dan~ wrote: »

I have around £500-700 I could easily lose without being depressed, and as I'm new to it all I can expect that.

That's a low amount to be investing. If you bought 10 different company shares for £500 that's £50 each. If you paid £5.95 to buy them and £5.95 to sell them you would have to get big growth just to break even.

Is x-o.co.uk the best people to go with for my needs?

That's who I use as they were the cheapest at the time, though I know there are at least 2 slightly cheaper ones now. At this level remember you will only get bare bones web sites, nothing flash.

- If I buy £300 of shares in a company I get charged £5.95 for the transaction?

Yes plus 0.5% stamp duty on most shares.

Say I want to remove my money from the company I pay £15.50 to transfer out?

No. £5.95 to sell again. Transfer is if you want to transfer the shares intact to a rival broker.

Its the transfer out bit I don't understand, it says £15.50 per share, so if I had 10 shares in a company I'd have to pay £155? thats got to be wrong?

It is. As I say transfer is something different and the price is per company share, the number of shares you hold in that company is irrelevant.

Biggles

Reaper wrote: »

Yes plus 0.5% stamp duty on most shares.

If the transaction is below £1,000, Stamp Duty won't be charged.

grey_gym_sock

Biggles wrote: »

If the transaction is below £1,000, Stamp Duty won't be charged.

well, either this is wrong, or my broker has been robbing me

dan~_2

Thank you very much, I was using various companies as an example, but I wanted to start low to start with to get the grips of it.

I was going to put a few hundread of Excite Energy a few back and wish I did now, as I could of made a bomb!

Thanks for clearing it up, are there any places/books for me to read to get a better understanding for what I'd be doing, small-ish purchases, or is it better to just get out there in the real world and get on with it.

Biggles

grey_gym_sock wrote: »

well, either this is wrong, or my broker has been robbing me

They often deduct it automatically; I've had that happen with exempt shares, to be followed by an apology and a refund.

http://www.hmrc.gov.uk/sd/shares/sharetransfers.htm#1

westy22

They often deduct it automatically; I've had that happen with exempt shares, to be followed by an apology and a refund.

That is only for stock transfers using paper transfer forms and stock certificates. If you buy shares of any value electronically through a broker (even for £1) you will be charged 0.5% Stamp Duty Reserve Tax (SDRT) which is a related tax but not exactly the same as Stamp Duty. Please note that certain foreign listed shares and some AIM listed shares are exempt from SDRT.

Reaper

dan~ wrote: »

are there any places/books for me to read to get a better understanding for what I'd be doing, small-ish purchases, or is it better to just get out there in the real world and get on with it.

Reading up on the subject is a good idea, though where to start is harder to say. Some people recommend "The Naked Trader" though I haven't tried it myself.

Some web sites also offer free guides such as the Motley Fool. See the "Foolish Investing Guides" near the bottom of this page, in particular "How to Invest in Shares".
http://www.fool.co.uk/

Daniel_Elkington

Learn some maths and set up a practise account with sharecentre to get an idea for it.

BLB53

are there any places/books for me to read to get a better understanding for what I'd be doing, small-ish purchases, or is it better to just get out there in the real world and get on with it.

A couple of books worth a read -
The Naked Trader http://www.amazon.co.uk/The-Naked-Trader-trading-ebook/dp/B005OPGDO8/ref=zg_bs_362213031_1
and
'Slow & Steady Steps' http://www.amazon.co.uk/Slow-Steady-Steps-Wealth-ebook/dp/B007EBLN3G/ref=zg_bs_362216031_31
finally, many good articles on Monevator (investing tab)

Good luck with the investing journey!

jimjames

With the kinds of amounts you are talking about you may well be better of with either funds or investment trust savings schemes rather than direct shares. Otherwise your costs could outweigh any gains that you make.

More info here https://www.hl.co.uk