What's a good trading site for a newbie?

adredwood

Hi there - I'm looking to invest a little money in some stocks from the US, though I'm from the UK. I've tried looking around for some solid advice on a platform to buy through but the internet has a great deal of conflicting information on this (I know, surprising...)

What I'd like to do is very simple: buy a few stocks in companies I believe in for the relatively long-term, at least a few years. I don't think I'll be making many trades per month or even year, but I want a system I can rely on. Does anyone have any good advice? I saw getstocks that looks reasonable, but it's relatively small and unknown... anyone have experience with them?

Thanks!

Andy (:

birminghamuniv

As far as I know, many newbies use platforms like interactive brokers for US markets. Please google it.

bowlhead99

Getstocks has been mentioned so few times on this forum by genuine investors as to make us all presume that any new member who joins this forum and mentions it in their first few posts is probably a shill or a spammer.

Also, getstocks is one of the "new breed" of "social trading" sites on which people generally lose money; and you say you are not looking to take short term trading positions but long term holds.

Check out IG.com, TDdirectinvesting.co.uk, Youinvest.co.uk as well-regarded UK brokers with access to US and other overseas markets.

Rollinghome

Had never heard of Getstocks but their video looks worryingly cynical in the extreme and aimed very much at the gullible newbie.

Trading stocks, including in foreign markets, is never "simple" and relying on the "expertise" of unknown users of the site has the potential for abuse and a fast route to losing money.

Simple is is investing in a diversified tracker or multi-asset fund through one of the established fund platforms.

EdGasket

Why do you want to buy US stocks when you don't even know the main trading platforms out there? Sounds like a recipe for disaster. Either just buy a US fund or stick to UK stocks. The FX charges make US investing challenging for individual stocks. TDDirect will handle US stocks as will Halifax share trading but check the fx costs and whether you can maintain a USD cash balance if you are thinking of trading in and out of stocks.

Pincher

I hope you know how to fill in the tax return for foreign dividends and capital gains. Wouldn't a sterling denominated ETF for S&P500 be more newbie material?


http://www.schwab.co.uk/public/schwab-uk-en/us-investing