# Shares set up help



## Tom_the_great (Sep 21, 2009)

Good afternoon all

Just a quick couple, i'm planning on buying a few shares about 1k worth and im thinking about doing it via my bank Lloyds if it matters...

my questions are is this the best route i'm no big shot just trying to earn a few extra pennies? i have to apply for an nominee account is this normal what will they check etc? also can i just invest in say the FTSE100? or do i have to pick one company? or one type for example Gas and electricity?

Regards Tom.


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## Tricky Red (Mar 3, 2007)

I'm with Barclays, others are with 3i. A nominee account purely means that you will not receive share certificates and your choice of supplier will keep your funds in a nominee account. 

With any provider you should be able to trade all shares on the stockmarket, probably with the exception of overseas in some cases. Not sure on that one though. 

If I had £1k to invest, I would buy one company's shares. It will cut down on your buying costs. 

I think that Vodafone and BP should be decent bets. At the moment I am just holding Vodafone and Morrisons.


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## shine247 (Mar 1, 2010)

Hi Tom,,

Setting up the nominee account should be easy if you have an account at Lloyds. It is simply an account in which you hold shares but they are not held under your name. The good thing here is your name will not be listed on the register as a share holder and so you should not get unsolicited mail as a result of that at least. The only negative I can think of is you may not get shareholder perks. For example if you hold M&S shares in your own name, you are entitled to a free coffee and a few vouchers. When held in a nominee account it is difficult if not impossible to get them. Having said that, not many companies offer perks anyway so you lose little. The nominee account is the way most people go now. 

Looking at what Lloyds offer you can buy specific shares or funds but you have to watch costs of buying and selling and stamp duty on purchases of shares (but no sales).

I think from the questions you ask you need to look into what you want a little more but everyone has to start somewhere.


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## Tom_the_great (Sep 21, 2009)

thanks for the answers guys yeah i am quite new to this game, any recomendations of where is good to learn ie any sites that explain it well or as sad as it sounds how to guides? there is no one i have close to ask about without going to the bank really and im not sure how biased they would be?


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## Tricky Red (Mar 3, 2007)

Most of the major sites have demos, or practice portfolios too. 

Digital Look is a good site for research into prices.


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## STEALTH K3 (Dec 29, 2006)

I set mine up with Barclays to start with then opend up a Halifax account online very easy to use once you get the hang of it


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## Bero (Mar 9, 2008)

Look at the providers and ask:-

How safe are they? Your money may be protected in the worst case...but that does not mean it will be fast or easy.
Can I buy everything i want e.g international shares/funds.
How much do they charge?.
Any other benefits?

I use iii:-
Owned by Bank of Scotland/HBOS - safe.
They let me buy the international shares I want (my employer mainly)
They only charge £10 per trade (£10 to buy, £10 to sell, x1.5 for international)
They have a decent forum and reasonable stock search/filter tools; I think they also have the option of an account using pretend money to let you see how it works.

Words of advice - I'm no expert but been buying for the last 5 years: -
Start small until you get a feel for it....read books on it.....only invest what you can afford to lose....don't be afraid to ask questions.....every day is a school day - never think you know everything....don't use a Spread Bet/CFD account until you have good experience....don't invest too small chunks or your buy/sell costs will be a significant portion of your money - personally with £1k I would invest it in no more than 2 companies.

And finally have fun!


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