Cryptocurrency Vs Stocks and Shares - LOW BUDGET

Arsenal2019

tebbins said:

Arsenal2019 said:

jimjames said:

Arsenal2019 said:

Is a stock and share Isa advisable for someone like me who would only invest / buy small amount of shares? Particularly at the beginning 

Definitely. When I first started out I didn't use an ISA as the fees were higher and I didn't think it would be needed. After a good few years investing I'm glad I did start to use an ISA as I would otherwise be facing a big tax bill for the gains and the income. The great thing about ISAs is that everything inside them is free of tax so your money can grow and be traded with no tax due (other than stamp duty on shares)

I think when I first start out investing into stocks and shares, and due to the low amount I would be investing at first, I think I’ll say no to an Isa until I’ve started to build a portfolio & have few hundred / thousand in there.
would  you say that’s a good idea 

There is literally no point or advantage to not putting it in an ISA.
Unless you want to max out other types of ISA with your ISA allowance?

So an Isa would still be right for me, even with my Low and non-frequent deposits??? Would that be better serving to me, even with the monthly fee’s/ joining fee of the Isa 

eskbanker

Arsenal2019 said:

So an Isa would still be right for me, even with my Low and non-frequent deposits??? Would that be better serving to me, even with the monthly fee’s/ joining fee of the Isa 

What monthly/joining fees?  Off the top of my head, I can only think of one provider charging more for an ISA than a general investment account, i.e. it's the exception rather than the rule....

chucknorris

ColdIron said:

Don't kid yourself that Crypto is investing, it's speculation or gambling. Don't confuse the two

Your first reply on this thread nailed it 100% IMO

Arsenal2019

eskbanker said:

Arsenal2019 said:

So an Isa would still be right for me, even with my Low and non-frequent deposits??? Would that be better serving to me, even with the monthly fee’s/ joining fee of the Isa 

What monthly/joining fees?  Off the top of my head, I can only think of one provider charging more for an ISA than a general investment account, i.e. it's the exception rather than the rule....

So there’s no monthly fees for the Isa’s? Or monthly minimum deposits ?

jimjames

Arsenal2019 said:

eskbanker said:

Arsenal2019 said:

So an Isa would still be right for me, even with my Low and non-frequent deposits??? Would that be better serving to me, even with the monthly fee’s/ joining fee of the Isa 

What monthly/joining fees?  Off the top of my head, I can only think of one provider charging more for an ISA than a general investment account, i.e. it's the exception rather than the rule....

So there’s no monthly fees for the Isa’s? Or monthly minimum deposits ?

I'd agree with the previous replies, absolutely no point in not using an ISA . I didn't use one 25 years ago because it was more expensive but there is no difference now.

There are monthly minimum deposits but that's like £25. If you're unable to meet those then I'd really suggest building up some cash first. But no, most ISAs don't have fixed fees, it's normally a percentage of whatever is in there and any fixed fees wouldn't be a good idea in your position.

Arsenal2019

jimjames said:

Arsenal2019 said:

eskbanker said:

Arsenal2019 said:

So an Isa would still be right for me, even with my Low and non-frequent deposits??? Would that be better serving to me, even with the monthly fee’s/ joining fee of the Isa 

What monthly/joining fees?  Off the top of my head, I can only think of one provider charging more for an ISA than a general investment account, i.e. it's the exception rather than the rule....

So there’s no monthly fees for the Isa’s? Or monthly minimum deposits ?

I'd agree with the previous replies, absolutely no point in not using an ISA . I didn't use one 25 years ago because it was more expensive but there is no difference now.

There are monthly minimum deposits but that's like £25. If you're unable to meet those then I'd really suggest building up some cash first. But no, most ISAs don't have fixed fees, it's normally a percentage of whatever is in there and any fixed fees wouldn't be a good idea in your position.

thank you very much for clearing that up for me! That’s made a lot of sense. Also, last question I hope 😂… it for whatever reason you don’t meet the minimum monthly deposits for whatever reason, I presume you’re charged a fee ?

Arsenal2019

Perfect. Thank you!!

Alexland

Deleted_User said:

IIRC, Fidelity may be an exception, i.e. they may charge more if you don't make monthly deposits (at least when the current value of your investments is small). So check the charges of providers you're looking at, but it won't usually be an issue.

Fidelity don't have any additional charge for inactive small accounts it would just be the normal 0.35% ongoing on an adult account.

Notepad_Phil

Alexland said:

Deleted_User said:

IIRC, Fidelity may be an exception, i.e. they may charge more if you don't make monthly deposits (at least when the current value of your investments is small). So check the charges of providers you're looking at, but it won't usually be an issue.

Fidelity don't have any additional charge for inactive small accounts it would just be the normal 0.35% ongoing on an adult account.

But not if you have less than £7,500 in there and don't have a regular savings plan set up,  in which case you'd have to pay on the basis of £45 per year for each month that the account didn't meet the £7500 requirement.

https://www.fidelity.co.uk/stocks-and-shares-isa/fees-and-charges

grumiofoundation

Alexland said:

Deleted_User said:

IIRC, Fidelity may be an exception, i.e. they may charge more if you don't make monthly deposits (at least when the current value of your investments is small). So check the charges of providers you're looking at, but it won't usually be an issue.

Fidelity don't have any additional charge for inactive small accounts it would just be the normal 0.35% ongoing on an adult account.

Have I missed something reading the charges? But I read as flat fee of £45 if you don't have a regular saving plan.* 

So for say £2000 without RSP would be £45 versus £7 if have RSP, so would be higher charge when not contributing.

https://www.fidelity.co.uk/services/charges-fees/fees-more-detail/#tab-link

Value of Investments        Service fee (annual amount or %)

Less than £7,500

0.35% if you have a regular savings plan or £45 if you don't

*which you can set up from min of £25 although interestingly in the 'doing business with fidelity' document, page 10, it says 

Please note that customers with a monthly Regular Savings Plan (RSP) of £50 or over who have investments worth less than £7,500 will be charged just 0.35%. 

https://eumultisitev4prod-live-eb461540d2184169bb77db2b062d9318-f268f99.s3-eu-west-1.amazonaws.com/PI UK/pdf/legal/Direct_Key_features_document.pdf