Need help finding a Broker

[Mahdi]

Hello Forum People

I am very new at this thing and any help from the experts would be much appreciated.

I tried to register with TD water House stock broker but they refused me claiming that my Credit Scoring was not good enough which, is a bunch of rubbish if you ask me.

Anyhow, are there any good Brokers out there which you guys would recommend?

Any help would be very much appreciated

Thanks

 

[Mahdi]

By the way, I wish to be able to trade on NASDAQ100

Thanks

 

[raf110]

Do you want to trade CFDs or the underlying shares

 

[Mahdi]

Hi

Thank you for the kind reply. I am kinbda new at this so please do not laugh if I ask, what is the difference between:


CFDs and the underlying shares?

Also which is better and *hence* easier?

Thanks

 

[raf110]

CFDs are a derivative on the underlying shares. You do not actually own the underlying with CFDs. They are also trading on margin. See following for more details.

http://www.isxmarkets.com/about_cfds.htm

You will need at least 6 months experience before you can start trading CFDs. So I suggest you start with the underlying.

www.stockbrokers.barclays.co.uk

is good for beginners.

 

[options]

Cut your teeth on something slower, no experience trading, especially nasdaq shares and you'll get ripped apart.

 

[Mahdi]

So where do you guys recommend I should start trading. Bare in mind that I will start off with like £200

 

[options]

You'll probably be better off with something like 'bet on markets.com'

 

[markshep01]

I have just recently started trading in shares myself and have used www.comdirect.co.uk web site is easy to look around and there is a flat fee of £12.50 for purchases and sales.

 

[sidinuk]

With £200 the spread, commission and stamp duty will make it impossible to make anything out of shares unless you luckily buy the right one at the right time.

To gain some more realistic trading experience with £200 your only option is a spreadbet account. Look at it as a training fee, you'll lose your £200 but gain an enormous amount of good experience in the process.

If you can't afford to lose this £200 then forget about trading until you can.