It’s actually quite easy to start investing. You used to need a stockbroker – those guys on the films in oak-panelled rooms with bowler hats, briefcases and cigars – to buy investments for you, but you can do it all online nowadays.
With investment, your capital is at risk.
There are plenty of companies with websites that allow you to buy and sell investments easily and pretty quickly – they’re sometimes referred to as platforms or brokers, for example, Bestinvest.
The number of companies out there could leave you feeling overwhelmed. You need to do some research and find a company that’s reputable, trustworthy and that will help you get what you want from your money.
Most companies charge a service fee, and while it’s important to remember that cheapest isn’t always best, be careful to not be caught out by high fees that can eat into your money.
Once you’ve chosen the lucky company, you’ll need to open an account with them. It’s a bit like opening a bank account, but for investments, and it usually only takes a matter of minutes to set one up. You can find out everything you need to know in our lesson on getting a lovely home for your money.
Once you’ve chosen and opened your account, you can start investing. It’s very similar to buying clothes online – search for what you want and do some research on the best fit for you, read the description, make your choice, put it in your basket and pay!
You will soon see the investments in your account and over time you can see if they’ve gone up or down and how they’re working out for your money. Investments can go up and down due to stock market volatility, so don’t panic. You can find out more about it in our lesson on risk.
You might not want to keep the same investments you have now later down the line – they may not be performing as you expected or they just don’t suit you or your needs anymore. It’s a walk in the park to change – or sell – most investments. You can often just buy new ones without withdrawing the money from your account, and voilà! Take a look at more about managing your investments.
Our friendly team can help with any concern you have about your investmentsCall us on 020 7189 9999
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