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The benefits of pick and click Online share dealing is quick, cheap and efficient and is catching on fast. But is it suitable for you?
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Newspaper Article
The benefits of pick and click Online share dealing is quick, cheap and efficient and is catching on fast. But is it suitable for you?
2000
Overview
THE RISE in popularity of technology stocks over the past year has fuelled a huge increase in online share dealing. In the last three months of 1999, internet execution-only deals (where no advice is given) rose 140% from 155,000 to 371,000. They are expected to account for 20% of all trades by the end of March. Online transactions are quick, cheap and efficient, and unless a hacker breaks in or the investor forgets or loses his or her pin number or password, it is arguably safer than phone/post trading. A nominee bank account records all dividends, interest and other money paid into or out of the account, so that tax calculations are simplified. The interest paid is higher than with most bank deposits. To start trading online, you might pick one of the cheaper brokers, such as Torrie & Co. Download the registration form and send it to the broker with your cheque. You will get a nominee bank account, password and pin number, and after accepting the \"disclaimer\" (protection against money laundering) you can select your shares. State a price limit, press buttons to buy and send to complete the deal. The cost will be taken from the account set up for you by the broker or you will be told later that your limit, that is the price you wanted for selling or buying the share, was not possible.
Publisher
Evening Standard Limited
Subject
