At pounds 4,000 or pounds 5,000, this isn't a life or death decision," says Paul Penny at discount broker
Financial Discounts Direct.
Buying individual stocks on a fixed income is easier today thanks to discount brokers
such as Charles Schwab (877-476-2370) and online investment outfits like ShareBuilder.
are expanding their banking services in an attempt to make the most from each customer.
ISAs allow you to invest up to pounds 7,000 a year tax free, but most people don't realise you can pocket up to pounds 350 by using a discount broker
For any of these, try to use a discount broker
who doesn't charge standard commission of five per cent-plus upfront.
Cheryl Downing, 47, from Hove, East Sussex, has just invested pounds 5,000 in a maxi ISA through HCF discount brokers
and saved pounds 200 in charges.
Also, they are a growing number of big investment banks who've allied with discount brokers
to give their customers an opportunity to buy shares in select IPOs.
such as New York's Charles Schwab & Co.
Heading the pack to establish a new mode of discount broker
provision is Wolverhampton-based company, Torquil Clark.
He learned how to research stocks and opened an account with a discount broker
Anyone can get in, since the only thing needed is a telephone, a discount broker
and some spare money,'' he said.