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Questions About Buying Shares

  • 02-12-2012 4:57pm
    #1
    Jamesleacy501
    Closed Accounts Posts: 37 ✭


    I have never bought shares before but i would like to start buying a few when ever i have the money to!

    I have a few questions..

    1) is there a minimum amount of money that you can spend on shares?

    2) How do i go about buying shares? I mean is it just a matter of going into a bank and telling them you want to spend 'x' amount of money on 'x' shares?

    Any replies would be appreciated :)
    Tagged:


Comments

  • #2
    Inevitable Pelican
    Registered Users, Registered Users 2 Posts: 10 ✭Inevitable Pelican


    The minimum about you can spend will actually depend on the broker you use. There are some that won't have a minimum amount, but bear in mind that there will be an execution charge for each deal (buy or sell) that you make, this can either be a flat fee or a percentage of the amount you spend each time, so having €100 to spend won't get you €100 worth of shares. The same would count for when you sell too, so you won't get the full value as there would be a charge for the sale.

    There's a few ways of buying shares, some banks have broking divisions which will help you when it comes to opening an account, or you can go with a stockbroker. This is where you need to look at the different types of brokers that are available:
    1) Execution only - These tend to be the cheapest brokers to use as they offer no advice on what to buy or sell. You choose the shares you want to buy and put the order in for them (there are quite a few where you can do this all online). And it's the same when you want to sell

    2) Advisory - These cost a little more to use as they have staff that are qualified to give financial advice, so that you can take their suggestions on what shares to buy, or what particular types of company are performing well and where might be good to put your money.

    3) Discretionary - These are the most expensive types of brokers as they will handle everything for you. You basically invest an amount of money with them and they choose what shares to put it in to and when to sell them and buy different ones.

    Hope that makes things a bit clearer?


  • #3
    tim_sims
    Site Banned Posts: 36 ✭tim_sims


    Jamesleacy501 wrote: »
    I have never bought shares before but i would like to start buying a few when ever i have the money to!

    I have a few questions..

    1) is there a minimum amount of money that you can spend on shares?

    2) How do i go about buying shares? I mean is it just a matter of going into a bank and telling them you want to spend 'x' amount of money on 'x' shares?

    Any replies would be appreciated :)


    you dont buy shares through a bank

    your buy them through a stockbroker , for small amounts , its better to simply set up an online account

    i use td investing , much better value than any of the irish brokers


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