A share dealing service is something you need to buy, hold and sell investments for yourself. There are lots out there, and there are a few different types.
Once you’ve identified an investment that’s right for you, how do you actually buy it?
The most common option is a share dealing service or platform as they are easily accessible, and have lower charges than traditional stockbrokers.
There are many different execution-only providers to choose from. This means they will only follow your instructions to execute the purchase of an investment. Some providers also offer financial advice or money management for an additional fee.
When you’re ready to invest, you need to consider these factors when selecting a share dealing service.
Firstly, before making a decision, assess what level of assistance is on offer and what type of investments you will have access to – for example, investment trusts, funds and shares.
Secondly, does the service offer different ways to buy, such as regular monthly investing, and can they reinvest your dividends?
Finally, what are the associated costs? Dealing costs are usually determined by how you buy and sell shares. Dealing online tends to be cheaper than over the phone, or in writing.
The total fees will generally depend on how frequently you trade and the size of your portfolio, therefore you should consider these factors when selecting a share dealing service.
It’s best to explore a variety of options and assess service rates before making a selection that suits your financial needs.