Online share dealing is available from most major trading companies with many platforms set up purely to enable individuals to trade online. Unlike many internet get rich quick schemes, online share trading is simply an extension of an existing service now easily accessible online.
The potential to invest in stocks and shares has always been there, now there’s just the chance to monitor your investments quickly and easily on a day to day basis. The ease and convenience of operating online has also opened it up to many who wouldn’t necessarily have considered starting to invest.
But is there actually the potential to make any money? With the numerous investment options for share dealing it may appear so, but as with any investment there are always risks involved.
So, how do you get started? And most importantly, how do you make it work for you financially?
Choose the best platform
The platform you choose is essentially the website you use to manage your online portfolio. How it looks and feels is vital as you need to be able to see important data quickly and easily so you can make the important decisions correctly.
Each account provider will offer a slightly different service which access to different shares and managed by different platforms. Many of the best platforms offer demo accounts as a trial of their specific platform. Trailing a few at the same time enables you to compare platforms and make a decision as to which best suits your needs before you start investing for real.
When making your final decision you’ll find that the best trading site will be a combination of the platform you find easiest and most intuitive to use coupled with the account that matches the way to wish to invest.
Certain providers offer advice as well as the chance to invest. If you’re a little unsure when starting out this is definitely a valuable service.
Choose the best account
Making the decision on which account best suits your needs is a matter of comparing the features on offer against how you want to invest. For example, some offer the chance to double your initial deposit when you open the account. If you open the account with a lump sum, then this can be very beneficial when first starting out.
All accounts and offers have strict qualifying criteria and most importantly charges. At this stage it’s important to understand how often you wish to invest and the potential charges each time you do. If you’re a little unsure, it’s always wise to seek independent financial advice.
So, you’ve chosen the platform and the account. It’s time to make money. Choose your investments wisely. Make sure you’re in it for the long haul and not a quick get rich scheme and always seek advice whenever you need it.