Cheaper Uk brokers?

This is a discussion on Cheaper Uk brokers? within the First Steps forums, part of the Reception category; Hmm So far the lowest fee I have found is £15. In truth, this economic climate means I personally Don't ...

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Old Jun 12, 2009, 11:37am   #1
 
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Cheaper Uk brokers?

Hmm

So far the lowest fee I have found is £15. In truth, this economic climate means I personally Don't have huge sums to trade with and these fees would reduce my potential even further.

I really want to day trade but with fees like that I'm not sure how I'll ever enter the markets.

Any advice would be greatly appreciated
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Old Jun 13, 2009, 8:04am   #2
 
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Hmm

So far the lowest fee I have found is £15. In truth, this economic climate means I personally Don't have huge sums to trade with and these fees would reduce my potential even further.

I really want to day trade but with fees like that I'm not sure how I'll ever enter the markets.

Any advice would be greatly appreciated
You should not be trading at all if money is that much of a concern, honestly. There may be the odd few (and I mean very odd) who claim rags to riches stories through trading. But the greatest majority would say what I have to say, which is - It is a long and expensive learning process to achieve consistent profitability.
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Old Jun 13, 2009, 9:44am   #3
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Try spreadbetting... fees are embedded in the spread (normally 2 to 6 points roundtrip) and you get the same market action but you can keep most of your money in the bank.

Jack
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Old Jun 13, 2009, 6:08pm   #4
 
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Try spreadbetting... fees are embedded in the spread (normally 2 to 6 points roundtrip) and you get the same market action but you can keep most of your money in the bank.

Jack
I also have spreadbet platform for futures, but this is only possible in the UK I think. US clients can not have tax free trading.

My broker will let people open an account for $200 but sometimes for $25. However, always check with the broker for their licences and they must show it. Go for the one licenced on all 3 continents
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Old Jun 13, 2009, 6:24pm   #5
 
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iii if you want to buy shares are pretty good. I wouldn't buy shares with less than 1k though unless they were penny stock.

If you want to day trade, you're best off spread betting unless you have large sums of money.
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Old Jun 13, 2009, 11:25pm   #6
 
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Try Hoodless Brennan - cheap and cheerful
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