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.
In ranking TradeKing as the industry's top discount broker
ahead of many well established industry participants, the survey praised the firm for its inexpensive commissions, a trading platform that was "fast and easy to navigate," and responsive customer service with a chat function that "was a breeze" to use.