Brokers cut costs of online share dealing
SUNDAY TIMES - 29/02/04
By Matthew Wall
The FTSE 100 has risen by more than 20% over the past 12 months, and
private investors are now returning to the stock market with renewed
confidence. The number of people using online stockbroking services
has topped 500,000 for the first time. Private investors completed
about 50,000 trades a day in January, compared with 30,000 a day for the
same period last year, according to the Association of Private Client
Investment Managers and Stockbrokers (Apcims).
If you are simply looking for the cheapest dealing options, there are
plenty of brokers that combine flat-rate dealing at £10 or under with
zero administration charges. For example, an investor who makes 12
online trades a year worth an average of £2,000 each would be charges
only £108 by ShareCrazy - but it would cost £240 at NatWest
Stockbrokers. ShareCrazy deserves three stars based on value alone.
The Apcims website (www.apcims.org.uk) has a useful search engine that
allows you to specify what services you require. After entering the
details, it will give you a list of member companies that fit the bill.
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