New to Investing in to stocks or forex

COYI123

Hello everyone , hope your day is well , i was wondering if anyone could help me in advising in any good stocks or forex to invest in that could return a nice amount over the course of a year , im looking to invest roughly £600 a month and just wondering if anyone has any good stocks they recommend 

InvesterJones

Nope.

If you're interested in investing in volatile assets like individual stocks you need to be looking at more like a 10 year return period (to allow for recovery from volatility induced losses). For one year you should be considering savings accounts or money market funds really.

eskbanker

COYI123 said:

Hello everyone , hope your day is well , i was wondering if anyone could help me in advising in any good stocks or forex to invest in that could return a nice amount over the course of a year , im looking to invest roughly £600 a month and just wondering if anyone has any good stocks they recommend 

As above, a year is far too short to consider investing, unless it's 'play money' that you can afford to lose, but in any case, if you're drip-feeding in monthly, the vast majority wouldn't even be invested for a year anyway!

bostonerimus

I have no knowledge or interest in individual stocks or FOREX so like the other posters I can't offer any advice about them. I became financially independent by invested in simple index trackers inside tax advantaged wrappers like pensions and I'd advise you to do something similar. If you want a return on a year's time scale look at saving accounts.

TheBanker

eskbanker said:

COYI123 said:

Hello everyone , hope your day is well , i was wondering if anyone could help me in advising in any good stocks or forex to invest in that could return a nice amount over the course of a year , im looking to invest roughly £600 a month and just wondering if anyone has any good stocks they recommend 

As above, a year is far too short to consider investing, unless it's 'play money' that you can afford to lose, but in any case, if you're drip-feeding in monthly, the vast majority wouldn't even be invested for a year anyway!

Not only this, but you'll also pay a dealing fee each time you buy shares. This could be around £10, so your £600 is immediately reduced. With such small amounts it's unlikely break even, even if the value of the underlying stocks increases. 

Look at the 'Best Regular Savings Accounts' thread. 

wmb194

TheBanker said:

eskbanker said:

COYI123 said:

Hello everyone , hope your day is well , i was wondering if anyone could help me in advising in any good stocks or forex to invest in that could return a nice amount over the course of a year , im looking to invest roughly £600 a month and just wondering if anyone has any good stocks they recommend 

As above, a year is far too short to consider investing, unless it's 'play money' that you can afford to lose, but in any case, if you're drip-feeding in monthly, the vast majority wouldn't even be invested for a year anyway!

Not only this, but you'll also pay a dealing fee each time you buy shares. This could be around £10, so your £600 is immediately reduced. With such small amounts it's unlikely break even, even if the value of the underlying stocks increases. 

Look at the 'Best Regular Savings Accounts' thread. 

No, with the likes of Freetrade, CMC Invest and Trading212 you won't pay any commission. They make investing small amounts easy and far more effective than it ever was in the past. It's even cheaper to reinvest dividends with these brokers than it is with most others and their, IIRC, 1% fees.

TheBanker

wmb194 said:

TheBanker said:

eskbanker said:

COYI123 said:

Hello everyone , hope your day is well , i was wondering if anyone could help me in advising in any good stocks or forex to invest in that could return a nice amount over the course of a year , im looking to invest roughly £600 a month and just wondering if anyone has any good stocks they recommend 

As above, a year is far too short to consider investing, unless it's 'play money' that you can afford to lose, but in any case, if you're drip-feeding in monthly, the vast majority wouldn't even be invested for a year anyway!

Not only this, but you'll also pay a dealing fee each time you buy shares. This could be around £10, so your £600 is immediately reduced. With such small amounts it's unlikely break even, even if the value of the underlying stocks increases. 

Look at the 'Best Regular Savings Accounts' thread. 

No, with the likes of Freetrade, CMC Invest and Trading212 you won't pay any commission. They make investing small amounts easy and far more effective than it ever was in the past. It's even cheaper to reinvest dividends with these brokers than it is with most others and their, IIRC, 1% fees.

Fair enough. All the other reasons not to do it in the previous posts are still valid though! 

Ryan_Holden

There are a couple of 1 year savings accounts available now from First Direct and others paying "7%" over a year with £300 per month payment limits, so the full £300 per month would yield £136.50 at FD.

Open one of each of those and you'll make about £300 in a year. As has been said, in a year you're highly likely to be out of pocket trading on those markets.

There's a definite and concerning shift in attitudes recently that Forex is some sort of sure thing if you throw enough at it. It is literally a casino for almost everyone.

Albermarle

Ryan_Holden said:

There are a couple of 1 year savings accounts available now from First Direct and others paying "7%" over a year with £300 per month payment limits, so the full £300 per month would yield £136.50 at FD.

Open one of each of those and you'll make about £300 in a year. As has been said, in a year you're highly likely to be out of pocket trading on those markets.

There's a definite and concerning shift in attitudes recently that Forex is some sort of sure thing if you throw enough at it. It is literally a casino for almost everyone.

To save with the First Direct regular saver you need to have a current account with First Direct. The good news is that if you transfer to the FD current account there is a £175 cashback, so even better .

Bobajobbob

Forex is not an investment. You are simply buying and simultaneously selling currency pairs. You are effectively trading the relative movement between currencies over a period of time. Unless you do this in significant size and are looking to take advantage of the relative difference in interest rates in each of these countries over that time period it really is a mugs game for retail investors. You simply can't compete with the professionals in this space.

silvercue

wmb194 said:

No, with the likes of Freetrade, CMC Invest and Trading212 you won't pay any commission. They make investing small amounts easy and far more effective than it ever was in the past. It's even cheaper to reinvest dividends with these brokers than it is with most others and their, IIRC, 1% fees.

They don't charge commission but have very high spreads