OK, so you may consider that this is the wrong time to even think about buying shares since the stockmarket has dropd by about 30% in the last few months. Well, if you are an optimist and think that we may be at the start of a market recovery then you might be interested in opening an account with HalifaxSharebuilder.
The Sharebuilder is new concept tht allows you to buy or sell shares for only £1.50 per deal which is considerably cheaper than anybody else offering such sharedealing facilities. I should say that I have accounts with TD Waterhouse, Comdirect and Selftrade and these costs range from £9 to £15 per deal.
All you have to do to set up an account is go to www.halifax.co.uk/online and go to the Sharedealing/Sharebuilder homepage, choose the Sharebuilder tab and then open and fund your new account.
You can fund your account by direct debit or by debit ard. You are then given a choice of four payment dates that you want Halifax to debit your account each month. You can choose a one off option if you are setting up a plan to divesify a larger lump sum.
The next stage is for you to choose your shares and you have the opportunity of seeing which are the most popular top ten shares selected by other clients or indeed select shares via a search facility. Once you are happy with your choice of shares this becomes your investment plan. You can change this plan at any point.
The only downside for me is that you are restricted to four monthly investment days and as I am sue that you are aware timing is everything in sharedealing. I also found the site a little confusing nut once you get going it all sems to make sense.
You can also invest as little as £20 per month and reinvest any dividends that your shares accrue. This is a relatively low risk way to invest, increase your knowledge of the world of stocks and shares and have a bit of fun.
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