By selling your shares online, you are able to cut the costs of selling shares. The cost per transaction can range from anywhere between £1.50 and £25.00 depending on the type of transaction you wish to make.
How to Sell Shares Online
Different brokers will have different online platforms for making transactions. In most cases you will have a member’s area in which you can view your portfolio and perform transactions at the click of a button. Often the process is very simple and by selling your shares online you are able to carry out transactions at any time of the day. Unlike selling shares by phone, you are able to sell shares 24/7 and transactions will be honoured by your share dealer at the next possible moment, i.e. when markets open the next day.
Cost of Selling Shares Online
Selling shares online is considerably cheaper than any other method of selling shares. In fact the transactions are so much cheaper that it practically makes any other form of share dealing redundant. The cost of selling shares online is based on the value of the shares being sold. Online transactions often start from £5.00 and are capped at £10.00 – £15.00 even on sales above £100,000.00. This is considerably less than selling shares by phone which ranges from £25.00 to anything above and beyond £1,000.00.
Risks of Selling Shares Online
There are few risks to selling shares on the Internet. You can sell your shares at any time in the day or night and the costs are cheaper than other alternatives. Of course issues do arise when access to the internet on a computer or your mobile browser is unavailable. At this stage, selling your shares by phone may be a suitable alternative but with the much larger cost it should certainly be avoided.