Getting started

A share is a title of ownership: it represents a small part of a company's capital. As a shareholder, you may receive part of the profits (the dividend, if one is paid) and vote at general meetings.

Its value is not fixed: it changes every day with supply and demand.

A stock exchange is an organised market where buyers and sellers of securities meet. It has two roles. It lets companies raise money, for example through an initial public offering. It also lets savers buy and sell those securities at any time during trading hours.

It is the benchmark index of the Paris stock exchange. It tracks 40 large companies listed on Euronext Paris, chosen among the biggest and most traded. When people say "the Paris market went up", they usually mean the CAC 40.

The SBF 120 widens the panel to 120 stocks.

Because supply and demand change constantly. Investors buy or sell according to what they expect: company results, outlook, interest rates, the economy, sector news. A share price reflects expectations about the future, not only today's situation.

It is the part of profits a company pays out to its shareholders, usually once a year. It is voted at the general meeting and is never guaranteed: it can be cut or cancelled.

The dividend yield is calculated as the annual dividend divided by the share price.

With a share, you co-own the company: your gain depends on its success, with no guaranteed amount.

With a bond, you lend money to a company or a state. It pays you interest and repays you on a set date, unless it defaults. Bonds are generally less risky than shares, but often earn less over the long run.

An ETF is a fund listed on the stock exchange that replicates an index: CAC 40, world index, specific sector… In a single purchase, you are exposed to dozens or even thousands of companies. Its management fees are usually low.

Be aware: an ETF follows its index down as well as up. It spreads risk, it does not remove it.

It is a company's total value on the stock market: the share price multiplied by the number of shares in issue. It is how the size of listed companies is compared.

In France, at 18 you can open a securities account or a PEA on your own.

Before 18, a securities account can be opened in the child's name by their parents (legal guardians), who manage it. A minor cannot open a PEA. Rules differ in other countries.

The PEA (plan d'épargne en actions, a French share savings plan) lets you buy European shares and certain funds. Deposits are capped at 150,000 euros. Its appeal is tax: after 5 years, gains are no longer subject to income tax (see the Tax section).

The ordinary securities account has no ceiling and gives access to all markets (US shares, bonds…), but gains are taxed in the year you realise them.

You can hold both at the same time. The choice depends on your situation: this site cannot make it for you.

It is a PEA reserved for 18 to 25 year-olds who are attached to their parents' tax household. Deposits are capped at 20,000 euros. Taxation is the same as for a standard PEA.

When you are no longer attached to your parents' household, or after 25, it automatically becomes a standard PEA without losing its age: useful, because the 5-year clock is already running.

There is no legal minimum. In practice, watch the fees: an order costing a few euros weighs heavily on a 50-euro purchase. Some platforms offer fractional shares or small regular investments; check which type of account allows it.

Common sense rule: only invest in shares money you will not need for several years.

First check that it is authorised to operate: in France, the REGAFI register (Banque de France) and the AMF lists, including its blacklists. Then compare fees (brokerage, account keeping, transfer, currency exchange), the accounts offered (PEA, securities account), the markets available and the quality of customer service.

Normally, no. Your securities belong to you: they are held separately from the broker's own assets. For an institution authorised in France, the deposit guarantee and resolution fund (FGDR) also covers up to 70,000 euros of securities and 100,000 euros of cash per client and per institution. For a foreign broker, its home country's scheme applies.

• Market order: executed straight away at the best available price. Simple, but you do not control the price.
• Limit order: you set a maximum buying price or a minimum selling price. It is the most widely used to stay in control.
• Stop order: it triggers when the price crosses a level, for example to limit a loss.

Continuous trading runs Monday to Friday, from 9 am to 5:30 pm Paris time, except on Euronext closing days. An order placed in the evening or at the weekend waits for the next opening.

Brokerage fees, charged on every purchase or sale. Depending on the institution: custody fees, account fees, currency exchange fees for foreign stocks. When buying shares of large French companies, a financial transaction tax is added. On small amounts and frequent trades, these fees can eat up a large part of the gains.

It is how easily it can be bought or sold quickly without moving its price. Large stocks are very liquid. Small companies can be far less so: the gap between the best buying and selling prices (the "spread") is wider, and a large order can move the price.

For French tax residents, capital gains and dividends are subject by default to the flat tax (prélèvement forfaitaire unique): 31.4% in 2026, made up of 12.8% income tax and 18.6% social contributions. You can opt for the progressive income tax scale if it is more favourable.

Capital losses can be offset against gains of the same kind made in the same year or the following ten years.

Before 5 years, a withdrawal normally closes the plan, and the gain is taxed (income tax and social contributions), with exceptions set by law.

After 5 years, gains are no longer subject to income tax. Only social contributions remain due: 18.6% in 2026. Partial withdrawals are possible without closing the plan.

For French tax residents, yes. Any account opened abroad, including with a foreign online broker, must be declared every year with the tax return (form 3916). Failing to do so is punished by a fine.

When you simply buy shares, the maximum loss is the amount invested: a share can fall to zero, not below.

It is different with leveraged products (CFDs, turbos, some options, buying on credit): a small market move can very quickly wipe out a large part of your stake, or even more depending on the product.

Warning signs: a high "guaranteed" return, pressure to decide quickly, contact you did not ask for (call, message, social media), a request to transfer money abroad, a contact who cannot be found in official registers.

Before any payment, check the regulator's blacklists (in France, the AMF). In doubt, call AMF Épargne Info Service on +33 1 53 45 62 00.

With caution. In France, since the law of 9 June 2023, influencers must disclose paid partnerships and are barred from promoting certain risky products. But enthusiastic content remains an opinion, not an analysis of your situation. Always cross-check with independent sources.

CFDs and Forex rely on leverage: brokers must publish the share of their retail clients who lose money, and it is the majority. Crypto-assets are highly volatile, and many unauthorised platforms target young investors. This site does not promote them.

It is a sudden, steep fall in prices, often over a few days. Markets have historically recovered after major crashes, but sometimes only after many years, and nothing guarantees it will always be so. Selling in a panic locks in losses: it is one of the most common mistakes.

Not putting all your eggs in one basket: spreading your money across several companies, sectors, countries, even types of investment. If one company collapses, the rest limit the damage. An ETF on a broad index is a simple way to diversify.

Investing a fixed amount at regular intervals (every month, for example) smooths the purchase price over time and spares you from having to "pick the right moment". It does not guarantee better performance, but it reduces the risk of having bought everything just before a fall.

Shares are a long-term investment: over a few months, their path is unpredictable. A horizon of at least five to eight years is often mentioned. Money you might need soon (rent, studies, emergencies) has no place on the stock market: build an available emergency fund first.

Each analysis opens with a fact sheet: stock, rating (positive, neutral, negative or no rating), horizon, date and time, author. The text separates "The facts", taken from the sources cited, and "Our take", which is an opinion. At the end, the Transparency box states whether the author holds the stock.

A positive rating does not mean "buy": it does not take your situation into account. The full method is set out on the Methodology page. To test your knowledge, go to the quiz page.