Posted on: 7th October 2014
What could be easier than having a punt on a few stocks and shares you might ask. The answer is quite a lot of things. Here’s a few tips on how to buy stocks and shares.
Use a Stockbroker: It’s probably best to buy through a stockbroker.
You’ll get betteradvice and improved research tools, but will pay a little more for their expertise. team are here to help.
Buy direct: It’s an option. But if you want to buy direct then you should at least get a copy of company info and any relevant information.
Online Discount Broker: Look for hidden fees before signing anything. Don’t commit unless you are sure. They can offer good research tools. Some online brokers don’t need a deposit but most will ask for at least 500.
Check Fees: There will be fees involved, so pay attention.
Research fully: And that means yourself. Not through a friend. You need to make your own decisions so you can take your time and make considered choices. There’s also commissions to take in to account when you buy and sell.
Think long term: The hardest thing about buying stocks and shares is having a long term goal. But that’s what you need to have because things don’t happen overnight and fluctuate a lot over a five year span.
Only use spare cash: Never put money into stocks and shares you need for something else.
Use a Fund: This is a good way to approach your first foray into stocks and shares. A way to invest in a mix of assets including individual stocks and shares, which helps you diversify yourportfolio. It’s definitely riskier to invest in one solitary company. This is because investments do not react in the same way to the same economic or trading conditions.
Build you own: It’s possible to invest through your ISA allowance. Over £11, 000 a year.
Please contact our friendly team at Haven IFA for more information.