09:01 24 January 2013
Where to start?
These days, you can easily do share trading in the comfort of your own home. Most dealers will allow you to set your account online. They also give you the option to trade through the phone. The tricky part is knowing which dealers to choose. When making a choice, consider the fees that they charge and their reliability.
How to find the right account?
Right now there are several online stockbrokers can you use. You can choose the one that charge you based on your activities. For example, there are online stockbrokers that charge £10 for UK trades with no other charges.
There are also those that are backed up by big banking name that although charge a bit more, will give you peace of mind.
There are also accounts that are ideal for novice investors or those who are starting with very small amounts.
Some online stockbrokers charge these investors with 1per cent of the traded amount.
Trading online is very easy. All you need to do is choose a stock name to get a quote. Then, indicate the price that you’re willing to spend for that stock.
You can then execute the deal. The money will be taken out from your online account.
Investors are charged stamp duty reserve tax on all share purchases and profits. They are also charged capital gains tax when the profits reached at least £10,000.
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