Hey

Seeing what the FTSE is up to at the moment, I want in 🙂

I have previously had a FTSE tracking ISA and what I would like now is the same idea but with a quicker turn around than an ISA

Something i could put £500 into this week but cash in any time from the next day to 3-4 months in the future without going though all the hassle/paperwork of an ISA and using my ISA allowance.

Does such a Quick trading tracker product exist without buying individual shares or should i stick to earning bugger all in saving accounts!
Cheers
p.s. as suggested sums involved arnt massive max i could put at risk would be about 1k

You can buy an ETF – exchange traded fund, such as ishares FTSE 100, these trade like a conventional share and the company invests in the stocks aiming to mirror the index.

would the trading commision be prohibitivly high on that small an investment though?

Sign up to an account with http://www.iii.co.uk and you can buy and sell any time you want.

As said though, keep an eye on those fees; if you go mad any profit will be gone 😉

Off the top of my head I don't know what commissions would be, suggest you search motley fool for cheapest deals. You need to beware of bid/offer spreads as well. It may be cheaper to look at spread betting etc, really don't know as I tend to invest over a longer term.

"quicker turn around"

…. what?
shares that go up quickly?
shares go up, shares go down (something like buses) there will be another dip along soon if you miss this one.

What bank are you with?
Most banks will have have some form of share dealing, even in your branch you will be able to buy shares and get a share certificate (old style). But setting up an on-line share-dealing account will take time.

TD Waterhouse seem quite popular.

"Something i could put £500 into this week but cash in any time from the next day to 3-4 months in the future without going though all the hassle/paperwork of an ISA and using my ISA allowance."

3-4 months is a short time in shares if you are hoping to make money on £500.
If it was £1million that you were investing then that is different.

It might be a year before you make a profit in shares, or break even:

http://www.bbc.co.uk/iplayer/money_box

Halifax have a fantasy trader account that is free and easy to set up. They give you 10k of fantasy money and you can buy and sell shares exactly as you would for real. Good to see how it all works. I'm currently £1700 down, I think I'll stick to engineering!

Macavity –
quicker turn around was the fact that to set up my last isa took about a week and it wasnt certain which day the fund was bought on.

in terms of 3-4 month timescale
http://news.bbc.co.uk/news/business/market_data/stockmarket/3/twelve_month.stm

get in any time since jul last year and hold until youve made 10% or would be good to have a shortsell option for the way back down 🙂

Ah… hindsight, you cant beat it.

http://www.londonstockexchange.com/home/homepage.htm

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