Share Dealing For Starters
Discussion
Nope, not for me, but please bear with me 
Kinky Junior is doing Ecomonics as one of his A-levels. He's always shown a healthy interest in the stock market and is really good at numbers (got an 8 in GCSE).
Anyhow, I digress. As a Christmas present, I'm considering giving him £100 to invest in shares, as he wishes.
Can anyone recommend a really good website, app, or whatever, where I could set up an account, put in £100 and then let him buy/sell online as he wishes?
It's really an area that I've dabbled in, so have little knowledge in this specific area (hence this post). Of course Google throws up thousands of results; but the key concern (for me anyway) is something that trusted, etc. I'm not going to blow £100 into the ether (and if they've got my CC details .....)
Many thanks in advance, for any useful info, guidance, pointers, etc.
K
Kinky Junior is doing Ecomonics as one of his A-levels. He's always shown a healthy interest in the stock market and is really good at numbers (got an 8 in GCSE).
Anyhow, I digress. As a Christmas present, I'm considering giving him £100 to invest in shares, as he wishes.
Can anyone recommend a really good website, app, or whatever, where I could set up an account, put in £100 and then let him buy/sell online as he wishes?
It's really an area that I've dabbled in, so have little knowledge in this specific area (hence this post). Of course Google throws up thousands of results; but the key concern (for me anyway) is something that trusted, etc. I'm not going to blow £100 into the ether (and if they've got my CC details .....)
Many thanks in advance, for any useful info, guidance, pointers, etc.
K
Great idea, however no offence but even a 'cheap' individual share dealing platform like Halifax charges £12.50 a year to hold an account so the dude would have to make 12.5% profit just to break even with an initial investment of £100.
You'd perhaps be better served teaching the concept of diversification and sticking the £100 in a tracker fund with someone like Fidelity (who only charge around 0.5-1% per year for it). Trackers, although boring compared to active dealing, tend to outperform active stock picking as well, hence why the principle of diversification is so fundamental to investment strategies.
Just my two pennethworth.
You'd perhaps be better served teaching the concept of diversification and sticking the £100 in a tracker fund with someone like Fidelity (who only charge around 0.5-1% per year for it). Trackers, although boring compared to active dealing, tend to outperform active stock picking as well, hence why the principle of diversification is so fundamental to investment strategies.
Just my two pennethworth.
Edited by HumanDoing on Friday 17th November 14:39
He could get all the practice he likes here for free with no risk on the demo mode.
https://www.plus500.co.uk/
This time next year he won't be a millionaire though
https://www.plus500.co.uk/
This time next year he won't be a millionaire though
Great idea and the ideal way for him to take an interest in direct equity investment, and gradually gain experience of how things work.
He is probably already a fan of Mr Warren Buffett.
As mentioned, the fees upset the arithmetic though. You can still buy in certificates form, which then means no annual fees, but it then costs even more to do the purchase transaction. Many years ago there were fee free new issues, but very rare now.
If you have any certificated holdings, you could transfer £100 worth to your son (over 18 ? ). If under 18, use a designated account title as the shareholder name.
Or, perhaps buy a worthwhile bigger holding for yourself, and then do the transfer.
Thank you all for the replies 
I was happy to cover 'admin' costs, like setup costs, trading fees, etc ....... but at costs like £12.50 fee per trade
We could try it a 'demo' version ..... but not the most exciting Christmas present
The ISA is an option - but I think he's all ISA'd out (up to the limits on that IIRC). But I will look into that anyway.
The 'penny share' and AIM is a great one to play with - but I guess the back-end costs are still the same, or very similar?
A good idea while it lasted I guess. Again, thank you all for the valuable and helpful inputs.
I was happy to cover 'admin' costs, like setup costs, trading fees, etc ....... but at costs like £12.50 fee per trade
We could try it a 'demo' version ..... but not the most exciting Christmas present
The ISA is an option - but I think he's all ISA'd out (up to the limits on that IIRC). But I will look into that anyway.
The 'penny share' and AIM is a great one to play with - but I guess the back-end costs are still the same, or very similar?
A good idea while it lasted I guess. Again, thank you all for the valuable and helpful inputs.
I wouldn't bother with real money. Try that free site mentioned above or find a similar one.
A book like this will teach some valuable lessons: http://amzn.eu/dJEOOxr.
This is an introduction to trading strategies: http://amzn.eu/fOFMugf
Not saying that this is what I do, but is a good way to learn some types of investment rather than punting your money on shares and trading away your 'investment' as a beginner.
And defo, hat amount is so small it will be eroded in fees.
A book like this will teach some valuable lessons: http://amzn.eu/dJEOOxr.
This is an introduction to trading strategies: http://amzn.eu/fOFMugf
Not saying that this is what I do, but is a good way to learn some types of investment rather than punting your money on shares and trading away your 'investment' as a beginner.
And defo, hat amount is so small it will be eroded in fees.
Budflicker said:
He could get all the practice he likes here for free with no risk on the demo mode.
https://www.plus500.co.uk/
This time next year he won't be a millionaire though
...athough that's futures trading. His artificial £100 would be gone in ten minutes.https://www.plus500.co.uk/
This time next year he won't be a millionaire though
I'm with iWeb, it's £5 per trade and no annual fee for the S&S ISA. Account opening fee is £25:
http://www.iweb-sharedealing.co.uk/
edit: Needs to be *18* though.
At £5 small trades are still expensive but might encourage research and holding longer-term? If his ISAs are full then that is presumably a godo bit of spare cash already, maybe give him supervised access to trade with that? You could review all his research and decisions.
http://www.iweb-sharedealing.co.uk/
edit: Needs to be *18* though.
At £5 small trades are still expensive but might encourage research and holding longer-term? If his ISAs are full then that is presumably a godo bit of spare cash already, maybe give him supervised access to trade with that? You could review all his research and decisions.
Edited by Gareth79 on Friday 17th November 18:30
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