You don’t need much money to start investing and turn a profit. Companies have skyrocketed in value since the early 2000s. If you invested just £100 in Amazon in 2005 (when it was just $35 per share) and sold it today, you would have more than £5,000. What’s even more mind-blowing is if you invested £100 per month and then sold your shares today. Crazy, right? The best part is you can easily start to invest with just £100.
Are you regularly depositing money into a savings account? You may want to consider alternative methods to accumulating wealth in a pot, like investing. Interest rates are low right now with the Bank of England base rate at just 0.1%, making it difficult to spot savings accounts with mediocre interest rates, let alone anything substantial. Investing can provide an average of 5% if done sensibly.
Trading 212 offers three types of accounts: CFD, Invest, and ISA. The latter two are what I use and recommend everyone else rely on, whilst CFD is where you can lose (or gain) large sums of money. But Invest and ISA are pretty similar, so which should you choose to use?