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  • northerner77
    northerner77 Posts: 102 Forumite
    The BBA's confirmation just now that the PPI appeal will be dropped means the bank shares will be down this morning?
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
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  • Mevs01
    Mevs01 Posts: 56 Forumite
    edited 9 May 2011 at 4:26PM
    jsc77 wrote: »
    Hi,
    I'm looking to get into share dealing, but not sure how to start. Can anyone direct me to a decent, and up to date guide on how to buy and sell, fees, accounts etc.

    The one at the start of this thread ('Cheapest Way To Buy and Sell Shares' article) doesn't look like it's been updated for a few years.

    Cheers,
    John
    Hi

    I use Halifax share dealing, normally the fees are roughly the same £11.95 + VAT for a single trade as often as you like. Or you can use the Halifax share builder where it costs £1.50 + VAT to buy shares on a set date only to a maximum of £200, a good way to start investing.

    Halifax also have a couple of cheap commission days throughout the year. More details on the Halifax website.

    "This is money" is a good website to visit as it gives details in all types of investing and gives you a round up of share tips as well.

    Good luck!
  • I had recently started trading in shares and was a new "customer" of Redmayne Bentley Stockbrokers. They have disclosed no information of the workings of the share trading world.

    I am a small investor in this market buying 2 share issues of £300 and £200 (fees excluded) With fees I have invested £327 and £227.
    Recently I sold my £200 share issue(at a fraction above the price I bought) and have received confirmation in the post that I will receive £176 as the £17.50 commission and £7.50 compliance fees was deducted. When making my first "sell" trade I was not informed that these fees were attached and that I would be making a £51 loss on this overall trade. (£50 of which goes to Redmayne)
    I called Redmayne today and they told me I should know this information because it was in the T+C's sent to me. I never received this information and even informed them of this when I created a "nominee account" from downloading the info from their website and emailing it to them. I was suppose to read what I hadnt received. Being a "customer" of Redmayne does not include being informed anything that isnt asked. YOU the customer should KNOW and their words were they "assume" you know.

    No apology of lack of info was given. They will trade for you but not advise you on profit/loss expectations and break even points.

    A £200 trade plus fees of "buy" and "sell costs you £251 that equates to you needing a share price rise of over 25% to BREAK EVEN. I know this now and wish to warn others.

    Why is there no regulation that the trader should inform you of the total return expected on a "sell" trade. A simple "Ok Mr. X I would like to confirm that you are selling 13300 shares in X at 00.151p Minus the £17.50 Commission and £7.50 Compliance fees equals £176... Shall I proceed?"

    At least the customer would know what to expect, just like any other transaction over the phone. I feel robbed!
  • ChrisEvanson
    ChrisEvanson Posts: 645 Forumite
    I use Hargreaves Lansdown. Not the cheapest perhaps but suits me. The fees are stated clearly and I like the fact I can buy and sell from my iphone!
    If I had a pound for every pound I'd lost, I'd be confused
  • Biggles
    Biggles Posts: 8,209 Forumite
    1,000 Posts Combo Breaker
    They have disclosed no information of the workings of the share trading world.
    They will trade for you but not advise you on profit/loss expectations and break even points.
    Of course not. They are an 'execution-only' broker; they expect that you understand what you are doing before you start. It's up to you to ask about anything you don't understand.

    There are 'advisory' brokers but their fees are much higher.
  • I've never bought shares before but would like to make a start. have read martin's article, etc. However, I'm NOT looking to buy and sell shares regularly; let me explain - I'm in my early 50's and am looking to buy shares occasionally and hold them for the longer term, to top up my income in retirement with the dividends (and occasionally selling some then).

    The discussions I've read here seem very much focused on minimising share dealing costs (understandably) through the use of nominee accounts.

    However, I'm not entirely clear about who then actually owns the shares or what would happen to them if that particular company went bust?

    Also, I know that holding paper shares is seen as old fashioned, and much less flexible when they need to be sold, as well as more expensive to buy but as I'm looking at holding them for the longer term, how much is this really an issue for me?

    Can anyone help? I just can't find the information I'm looking for.

    Thank you!
  • northerner77
    northerner77 Posts: 102 Forumite
    Corona wrote: »
    I've never bought shares before but would like to make a start. have read martin's article, etc.

    Sorry, I cannot answer your questions as I'm a novice but would like to know where Martin's article(s) on shares are. Good luck with the long term strategy you mention.

    A non-related question from me. Why do dividends you get from German shares not get taxed at source while UK divi payouts get hit automatically, can the money be claimed back if one is in a non tax paying bracket?
  • rockitup
    rockitup Posts: 677 Forumite
    I use Hargreaves Lansdown. Not the cheapest perhaps but suits me. The fees are stated clearly and I like the fact I can buy and sell from my iphone!

    Chris,

    when you mention buying and selling from your iPhone with your HL account, is that via an App or just regular phone call?
  • Sorry, I cannot answer your questions as I'm a novice but would like to know where Martin's article(s) on shares are. Good luck with the long term strategy you mention.

    You could start with:

    http://www.moneysavingexpert.com/savings/cheap-online-sharedealing

    And then put "shares" in the search box at the top of the page and search the Main Site; this brings up quite a few other options.

    Good luck.
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