How to buy/sell stocks?

Question

I'm looking to invest in some shares and I was told that I could buy/sell via a bank such as Lloyds?

Answer 1

You have to go through a stock broker.  Sign up with a stock broker on their website. A broker is registered with one or more "stock exchanges" (e.g. NYSE, NASDAQ, etc.) to execute stock trades on your behalf within that exchange's market.

Search for "online discount brokers" on a search engine to find a list of brokers that you can use to buy and sell stocks online. Scottrade, Etrade, and TD Waterhouse are just a few of the many options. Be sure to compare their fees and see if they have any hidden fees before signing up

Answer 2

You can also buy and sell via a stockbroker.  Online dealing is generally cheaper than dealing by phone, www.H-L.co.uk/stockbrokers.  The more you trade the cheaper the cost of dealing.  Make sure you understand the costs of the transactions before you make a decision and the service that you will receive.  Using a “platform or Fund supermarket” has advantages in that you will be able to view your shareholdings on line as well as benefit from holding ISA, Shares and Pensions all in the same place.  Choose one where there is no additional cost for ISA over standard account charges.

Disclaimer:

The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances.  To find and IFA please call 0800 085 3250 or go to http://www.unbiased.co.uk.

Answer 3

You can buy/sell stocks through a broker or directly from the company whose stock you are interested in.  You can buy/sell directly from a company if that company is listed as one that offers dividend reinvestment (DRIPs).  One popular choice is Disney.  If you choose to invest through a broker, I would recommend using an online discount broker.  I personally use and recommend Firstrade.  At $6.95/trade, they are cheaper than big name brokers like Etrade and Scottrade.  I definitely suggest that you check them out.