New to share dealing

Roshan

Hello all........

I am relatively new to share trading..and wud like to open a share trading account in UK.

which is the best one to open from hundreds of available one.?
Is the commission only for selling the shares or do we need to pay whenever we buy shares too ?

Would be great if some one replies ..

Thanks
Roshan

debbie42

There have been a few discussed on here recently: if you do a search for "Selftrade" that should show up some threads.

You normally have to pay for both buys and sells (though Selftrade have a special offer on atm for mobile trades).

esbo

Whilst you should be concerned about paying over the odds for commision etc
you should also be aware that you could lose a hell of a lot of money too.
With even big banks going bust on a fairly regular basis you should ask yourself is
any company really safe anymore?
So be careful where you put your money unless you can afford to lose the lot!!

Steve_xx

You might like to look at IWEB, who are part of HBOS.

https://share-dealing.iwebsharedealing.co.uk/sharedealing/public/SdWelcomeLogin.asp

They charge £10 per trade for both buying and selling. When you buy shares you also have to pay Stamp Duty of 0.5% of the value of the share that you buy. You don't pay Stamp duty when you sell them. If the total value of a purchase or sale exceeds £10,000 then you also have to pay a levy of £1 to the Panel of Takeovers and Mergers.

You have to have money in your sharedealing account before you can deal. Any money in the account earns 1% interest.

Steve_xx

esbo wrote: »

Whilst you should be concerned about paying over the odds for commision etc
you should also be aware that you could lose a hell of a lot of money too.
With even big banks going bust on a fairly regular basis you should ask yourself is
any company really safe anymore?
So be careful where you put your money unless you can afford to lose the lot!!

You need to be careful about your use of the word "regular". Banks are not going bust on a regular basis.

esbo

Steve_xx wrote: »

You need to be careful about your use of the word "regular". Banks are not going bust on a regular basis.

Given the kind of financial stability you would normally associate with a bank I don't
think it is too far off the mark. Maybe 'gone bust' is not the right phrase, but it is certainly
a time to reassess the institutions you once though were 'as safe as houses'.
Tread carefully is all I am saying, now is a more uncertain time than normal, investment wise.

tradetime

'as safe as houses'.

LOL probably not the best analogy in the current climate