CHAPTER 11
THE MECHANICS – PLACING THE ORDER
STEP 1
OPENING A SHARE DEALING ACCOUNT
Once you have decided that you want to deal in shares, you have to open a standard share dealing account, which usually is free. The basic share dealing account offers certain services for free , that means “ No ADVICE “ they would simply buy or sell as per instructions given. They allow you to trade over the phone or thru internet
If you have opened an account with your broker then you have to send them money stating which and how many shares you want to buy. They would charge you certain brokerage fees for their services. Also few of them charge trading fee, if there is no activity for a certain period of time as inactivity fee.
If you are trading through a web site, then it would ask for a username in which you want to open an account and then a password, that’s it and you are on. Once you put the username and the password , it would ask you which companies shares you want to buy, how much you want to buy it would then give you a share quote , if acceptable to you .they get their research on the trading charts and
You can always think and come back again. If the quote is acceptable to you u confirms it and in return you will get an email confirmation by the broker and the deal is done.
Yes, it sounds a little tensed but you will get use to it over a period of time.
Thursday, 2 July 2009
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