Market tanking

[dee]

Asking for a friend (honestly )

Anyone here recommend a good online service for buying into current tank on indices (S&P 500, DJ, UK100 ) ?

Any idea what charges are ?

 

[bonusmedia]

Maybe freetrade.io but I'm yet to try them and there must be some downsides to a free service.
Any broker (I use ii.co.uk) will sell you low cost tracker ETFs (exchange traded funds that cover an index). ii is £10 a month including 1 free trade per month.

But if your friend doesn't already know the very basics of this, they have absolutely no business trying to time the markets in a crisis. IMHO, the crash has barely begun

 

[dee]

ii .... thanks.

I've explained the pitfalls, especially over leverage etc and told him to wait. I think its probably going to get worse before it gets better aswell and trying to time the bottom is pure luck.

 

[Lovekraft]

I honestly thought this thread was going to be about the current state of the domain market

 

[dazc]

Your friend would be better opening a vanguard account and setting up a pension or isa. He can invest in the UK or US markets via a tracker fund at very low cost. The pension option is especially attractive atm since he's buying near the bottom of the market and getting 25% tax relief - that's £250 free for every £1,000 he puts in.

If he wants to outsmart the market though he'd be better off saving his cash and using it instead of loo roll.

 

[dee]

Your friend would be better opening a vanguard account and setting up a pension or isa. He can invest in the UK or US markets via a tracker fund at very low cost. The pension option is especially attractive atm since he's buying near the bottom of the market and getting 25% tax relief - that's £250 free for every £1,000 he puts in.

If he wants to outsmart the market though he'd be better off saving his cash and using it instead of loo roll.

Agreed. I guess that means his funds are locked in though.

 

[dazc]

Agreed. I guess that means his funds are locked in though.

For a pension, yes if he's under 55. For the ISA, no, so long as he doesn't want to re-invest withing the allowed limit.

Given the end of the tax year is a month away it's, arguably, as safe a short-term gamble as he can get though if he thinks the market will recover in this time?

 

[dee]

Given the end of the tax year is a month away it's, arguably, as safe a short-term gamble as he can get though if he thinks the market will recover in this time?

Dont know what his long term plans are. He just asked me because he knows ive done a bit of crypto / forex trading. I certainly dont think the markets will be recovering that soon ( ive told him what i think) . Suspect the bears will be out for a while.The panic hasnt peaked yet I suspect.

On a personal note. Cheers for the vanguard tip. I'll be looking at that myself.

 

[WHM]

Although not directly related, has anyone noticed a drop in domain sales to end users? Seems like a lot are holding off on investment.

 

[webber]

Although not directly related, has anyone noticed a drop in domain sales to end users?

First quarter of the year is always slow for any business

 

[LCHappy]

I certainly dont think the markets will be recovering that soon ( ive told him what i think) . Suspect the bears will be out for a while.The panic hasnt peaked yet I suspect.

Can you imagine how much there will be to made on the speculation about a working vaccine appearing? They are trialing one tomorrow in the US.

Would you believe it worked if they said so, would you believe the rumours of it working or not working? That is big balls betting right there with massive gains for those that get it right.

My husband used to do a bit on the stockmarket, lost a fair bit, he swore it was rigged with insider info and fake insider info.