So you want to try Online Share Dealing

What’s so good about Online Share Dealing?  

1.       You can get so much information on the Internet, and there are loads of online stockbrokers who make it even better . They will give you even more information on request such as alerts, tips for the day, real time prices, analysis, news, and various charting tools.

2.        When it comes to online share dealing you can buy and sell, otherwise known as trade pretty well instantly. 

3.       The cost of dealing is lower online. In fact in some places you can get started with no start up costs, whilst others charge monthly or quarterly fees for their share dealing services. You could be looking at could be less than £10 a month.

How do I get started online share dealing? 

1.       Looking at the UK you have a huge choice of over 40 online share dealing services

2.       Look them up and check out their costs, terms and conditions, and what additional services they offer.

3.       After making a decision you will need to identify yourself before setting up an online trading account. Original bank statements and passport copy will usually suffice.

4.       After identifying yourself your online share dealing broker will set up your account, and you need to make an initial deposit to cover the cost of your trading, then you are ready to start buying shares on line.

Online Share Dealing compared to Traditional Dealing with a Stockbroker 

1.       Online Share Dealing requires almost instant decisions to buy at the price offered, and you are on your own, compared to the old days when you could ask your stockbroker’s advice, and think about it.

2.       You can make an order when you are in online share dealing even out of trading hours for the next day, whereas you couldn’t trade shares with a stockbroker when he has gone home. What this means also is you can do business in the US market online, although not all brokers will allow you to do this.

3.       Online share dealing is often cheaper

4.       With online share dealing you are on your own, you sink or swim by yourself, and you have to do all your own research

5.       With online share dealing your shares will probably be held in a ‘nominee account’ and not in your own name, so you may miss out on shareholder perks, such as disounts and other perks.

6.       There are all the risks associated with any kind of buying and selling online, and that is fraud, and any online share dealing must carry some risk

7.       Mistakes in online share dealing cannot be rectified, and if you miss a decimal point and indicate you want to buy 5000 shares when you meant 500, then it is your own fault, and it cannot be rectified.

8.       You may think a deal has gone through but problems with computers may mean it hasn’t so until you receive written confirmation you can’t be sure.

Finally just remember that Online Share dealing is risky, so don’t get carried away and buy more than you can afford to lose. 

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