Why online broking makes good sense

There is a sort of nervous reaction to the notion of investing online. Somewhere at the back of your head is a reflex reaction that worries that a click-of-the-mouse might send your hard-earned savings into oblivion. This is, of course, complete nonsense.

Particularly if you have high-speed, broadband Internet access then an account with an online broker is a perfect way to manage your portfolio. For a start you can see it at anytime, anywhere in the world, make changes and be sure that your broking costs are among the lowest available.

However, online broking accounts are not just for manic traders, those folk who like to stay up all night studying share charts, though brokers welcome them as customers.

If all you want to do is buy a basket of solid stocks and sit on them for 10 years, you can still do this most effectively online. There is no question of sitting back and waiting for your annual statement to review your portfolio. It is always there, in real time, waiting for your information.

What if you don't like stocks? Well if you join an online brokerage like www.internaxx.com there are also hundreds of mutual and bond funds to choose from.

Again you can keep a sharp eye on what you have got, and what it is worth, by logging in. No more digging around in dusty draws for old stock certificates. Wake-up this is the 21st century!

Of course, if you decide not to trade - less than 30 trades per annum on Internaxx - then you will be liable for a custody fee, but nothing like as big as you would pay to a bank for the pleasure of collecting your dividends.

Indeed, online brokerages should be regarded as cost-effective investment tools, and while they offer access to quite a lot of research, there is absolutely nothing to stop the investor consulting any expert advisor or published source. It is all as comfortingly anonymous as you want it to be.

In fact, this is truly the most anonymous way to deal with your investments. There will be no phone calls to enquire as to the state of your financial health. There is not a commission agent involved.

Security is, as you might expect, state-of-the-art, and secrecy laws in a place like Luxembourg, in the case of Internaxx, make it extremely hard for anyone to access your account details. Such court orders are in practice virtually unknown.

So take your wealth management online if you want to keep your business to yourself, avoid pushy financial sales agents, and pay the lowest costs for transactions. And if you mess up an investment even your wife does not have to know!