Buying Shares
sebo0607
Posts: 41
Forumite
Hi
I am looking for the best platform to buy £500 worth of shares, these are just for fun and I may sell them in the short term if the prices rises but if it does not I am happy to hold for the long term.
I have had a look at the Halifax share dealing service and they do not have an annual fee and charge £12.50 per trade, is this a good offer in terms of costs or are there better?
Thanks
I am looking for the best platform to buy £500 worth of shares, these are just for fun and I may sell them in the short term if the prices rises but if it does not I am happy to hold for the long term.
I have had a look at the Halifax share dealing service and they do not have an annual fee and charge £12.50 per trade, is this a good offer in terms of costs or are there better?
Thanks
0
Comments
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X-O charge a flat fee of £5.95p.
£500 is a very small amount to invest in a share. You be better off buying a fund of some kind and not actively trading. Simply holding it for the long term.0 -
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Thrugelmir wrote: »X-O charge a flat fee of £5.95p.
£500 is a very small amount to invest in a share. You be better off buying a fund of some kind and not actively trading. Simply holding it for the long term.
Depends on the shares.........£500 of £5 BP shares or £500 of £0.05 shares in an AIM company who the OP might work for;)0 -
There are better ways to have fun.0
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couriervanman wrote: »Depends on the shares.........£500 of £5 BP shares or £500 of £0.05 shares in an AIM company who the OP might work for;)
Stamp duty is charged as a percentage so doesn't really affect this comparison, and likewise buy/sell spreads, but any fixed costs for platforms, etc, may also impact the evaluation.0 -
i quite fancy doing something similar!0
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Thrugelmir wrote: »X-O charge a flat fee of £5.95p.
£500 is a very small amount to invest in a share. You be better off buying a fund of some kind and not actively trading. Simply holding it for the long term.
Thanks, I will have a look at X-O. I have an investment portfolio and SIPP and have just transferred some funds around to reduce the overall risk. I just fancied a little risk money and gamble on these shares.0 -
couriervanman wrote: »Depends on the shares.........£500 of £5 BP shares or £500 of £0.05 shares in an AIM company who the OP might work for;)
Thanks, the shares are currently valued at 3 pence each, as I said this is just for fun. I have other investments and SIPP for my serious investments.0 -
Hi
I am looking for the best platform to buy £500 worth of shares, these are just for fun and I may sell them in the short term if the prices rises but if it does not I am happy to hold for the long term.
I have had a look at the Halifax share dealing service and they do not have an annual fee and charge £12.50 per trade, is this a good offer in terms of costs or are there better?
Thanks
You can buy for £2 using the once only regular investment where you invest on one of the 4 or 5 days a month chosen by Halifax.
You can sell using the one a month cheap trading day for £3.95.
That is probably the cheapest buy then sell cost you will get and for a £500 investment will work out like this:
Buy transaction fee - £2
Stamp Duty - £2.50
Sell transaction fee - £3.95
Buy/Sell spread between 20p and £5+ say £2
Total - £10.45 or 2% of your initial £500 investment.0 -
There's nothing fun about spunking £500 up the wall.
Add it to your SIPP or use it for a holiday if you're not wanting it to be invested.0
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