Buying/Selling Shares Online

[paulobrad]

I am interested in buying and selling shares online. I have never done this before online or offline so I need some advice. Is it easy to do - can I literally by 10 shares in a company for a few quid and watch the rise and fall by a few pence or is there a minimum number I must buy, plus are their lots of comission charges etc. What websites to do it would people recommend? Basically I have never done this before and would like to know exactly how much you have to pay and whether it is worth it for someone like me who just wants to do it for a bit of fun, buying only a few shares at a time. Many Thanks for all your help!

[darth vader]

Becoming an online trader is easier than most people imagine. You need a computer and a bank account. Most places will set you up for free. The costs vary but usually are around 10 to 15 quid per trade, be it sale or purchase. There is also a small stamp duty levied (around a quid or two per trade). Basically whilst working online you can purchase shares immediately on request - the trader will come back with a price offered and you have 15 seconds to decide to buy/sell at that price, or reject the trade. There is a limit to how much you can trade on credit (transactions are settled later - with mine it is T minus 5 i.e. trades are paid for 5 days later out of my account), and they have an ettiquette rule as to how many times you can reject bids before they get annoyed and close your account. Some have minimum trade levels (�100, �500 etc), others not, but if it's going to cost you a tenner to purchase some shares you would be unwise to buy say a tenners worth of shares as they would have to do 300% profit just to break even (30quid = �10 you invested, �10 purchase fee �10 sale fee). Some simple rules - 1) treat it like gambling, don't use money you can't afford to lose. 2) enjoy it but don't expect to make a massive profit straight away (if at all) - for every winner there has to be a loser 3) penny shares = big profits quickly/big losses quickly - bigger priced shares = less of a change in fortunes. btw if you're with one of the major banks you should be able to set up an online trading account with them (I'm actually with HSBC which is noddy to use and very helpful, and more importantly, free to set up)

[darth vader]

all that and no feedback? humphh.....

[paulobrad]

Sorry for no reply - i've only just read the message. It seems a little more complicated and expensive than just paying for some shares and selling (hopefully at a highier price), ah well - i'm off to buy a Lotto ticket!