i have just recieved some shares in bg group and centrica, wat is the best way of seling them?

Question

i do not want to be screwed on commision and seling fees

Answer 1

Walk into your bank and ask them what it will cost to sell the shares. Commissions usually depend on the value of the stock but total costs of around £15 would be reasonable.

Most banks and building societies will sell them for you and there's nothing to stop you asking someone else to do it. However if you go to another bank they are legally required to identify you and open an account first. That means you will need a passport and utility bill and be prepared to spend 30 mns anwering stupid questions as they fill in the forms.

Answer 2

Well, if you want to sell them in the stock market (NASDAQ, AMEX, NYSE), you need a stockbroker to sell it for you, because you don't have membership at a stock exchange (I'm assuming). Thus, you will need to pay commission fees. However, some brokers are cheaper than others. I suggest getting a discount broker, which can be less than 1/5 the cost of a full broker, because you aren't using any consulting services; all you need is a quick sell.

Also, you can use the "over-the-counter" market to sell the shares outside of the stock exchange. You are going to have to find those groups yourself, though. Check here for OTC information (http://www.otcbb.com/).

Answer 3

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Answer 4

Commission and selling fees are small compared to the federal tax you will be paying. The money you get will be taxed as ordinary income (up to 35%) Your best bet is to hold the stocks for 1 year and 1 day and then sell it. You will then be taxed at the capital gains rate of 15%.

Answer 5

Well
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Regards

Answer 6

Go to your bank

Answer 7

Try your bank