How do I buy shares on the stock exchange?
Hi, I am just wondering if anyone knows how I can start buying and selling shares on the stock exchange? As in I would like to just go and buy 200 euro worth of shares right now if possible! can anyone help?
Also I'm living in Ireland so I need one that can deal with the Irish Stock exchange and only have an Irish bank account.
Public Comments
1. Easiest thing to do is open an an account with an online brokerage firm. Meaning a website like Scott Trade or Etrade. But if it is for a small amount i recommend Tradeking. Just go to tradeking.com and follow the directions. It's easy, just remember that the stock market is like gambling.
2. Investing with such a small sum through a traditional stock broker is a complete waste of time and money. Fees will likely eat up any profits that you make and you will need something like a 20% rise in a stocks share price just to break even on a trade.
The only way you could stand a chance of making any decent money with that start up fund is through spread trading where there are no brokers fees or taxes. It is possible to start off with very small trades and then raise stakes as your trading fund rises in value....
eg....you buy Ftse100 at 1Euro per point at 5900 and it rises to say, 6200 a week or two later where you close the trade....your profit is 300 points x 1Euro = 300Euros
eg....Next you sell the Ftse100 at 6200 for 2Euro per point and it drops to 5800 a few weeks later...you close the trade.....your profit is 400 points x 2Euro = 800Euros
3. OPen an account with a broker, either on-line or traditional. You can deal on LSE even if you are Irish.