aj
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Post by aj on Apr 12, 2018 8:21:54 GMT
My budget broker has decided to shut up shop, leaving me with the issue of finding a new one. Do you financially savvy people have any recommendations?
Essential qualities:
-Low fees (For a sub £100K holding)
-Access to at least UK and US markets, others a bonus
I'd like to transfer my existing holdings (LSE, NASDAQ and NYSE) across too, are there any weird rules/fees I need to be aware of with this?
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mary
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Post by mary on Apr 12, 2018 9:30:57 GMT
My budget broker has decided to shut up shop, leaving me with the issue of finding a new one. Do you financially savvy people have any recommendations? Essential qualities: -Low fees (For a sub £100K holding) -Access to at least UK and US markets, others a bonus I'd like to transfer my existing holdings (LSE, NASDAQ and NYSE) across too, are there any weird rules/fees I need to be aware of with this? This is a useful tool to model your preferences and show costs depending on your size and frequency of trading... monevator.com/compare-uk-cheapest-online-brokers/#comment-883445I use iWeb, which is the low cost face of one of the big U.K. banks and cheap for low volume traders with a very wide set of shares, ETFs, Funds and international exchanges.
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Post by Deleted on Apr 12, 2018 11:44:04 GMT
iweb is very cheap
Halifax sharedealing is free but transactions costs are high
iii.co.uk are more expensive but you get the money back if you trade twice a quarter
AJBell is also worth a look
Weird rules, for all there is a standard form you have to fill in to take US shares, very simple and in most cases downloadable from each website. However look out for charges on US trading, sometimes you will see 1% dealing charges on non sterling deals, which of course is two percent if you buy and sell.
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aj
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Post by aj on Apr 12, 2018 11:58:47 GMT
I will take a closer look at iweb, thank you.
I have an AJ bell account for my LISA, I ruled it out as an option because of the extortionate £40 'Currency Conversion Fee' for any dealing outside of GBP.
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Post by nellerdk on Apr 18, 2018 17:40:44 GMT
forget about actively managed stockbroker funds.
Buy passive index funds.
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aj
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Post by aj on Apr 20, 2018 12:57:42 GMT
I prefer to hold direct stock in companies. Even passive funds are skimming fees off you.
I'd be interested to see how passives perform against actives in this more volatile market. My gut instinct tells me the 'copy what everyone else is doing' strategy of passives will be harder to pull off when the market can't make its mind up!
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loadsahope
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Post by loadsahope on Apr 20, 2018 19:08:08 GMT
I use www.ig.com. Its more a trading platform than a buy and hold broker (the latter being my style), but it's pretty cheap and so I like it. |
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stevio
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Post by stevio on Apr 20, 2018 19:30:39 GMT
I use www.ig.com. Its more a trading platform than a buy and hold broker (the latter being my style), but it's pretty cheap and so I like it. How cheap?
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stevio
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Post by stevio on Apr 20, 2018 19:31:05 GMT
I use www.ig.com. Its more a trading platform than a buy and hold broker (the latter being my style), but it's pretty cheap and so I like it. How cheap?
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kmac
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Post by kmac on Apr 20, 2018 21:01:38 GMT
I use www.ig.com. Its more a trading platform than a buy and hold broker (the latter being my style), but it's pretty cheap and so I like it. How cheap? I also use IG to buy and hold. My fees are £22 per quarter and £8 per trade. But the quarterly fee is reduced by the trade costs, so 3 trades a quarter eliminates the £22. It is easy to use. I transferred in for free. I don.t know if it is still free. It might have been a special offer. Worth a look
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loadsahope
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Post by loadsahope on Apr 21, 2018 8:02:39 GMT
I also use IG to buy and hold. My fees are £22 per quarter and £8 per trade. But the quarterly fee is reduced by the trade costs, so 3 trades a quarter eliminates the £22. It is easy to use. I transferred in for free. I don.t know if it is still free. It might have been a special offer. Worth a look - there's also no quarterly fee if your portfolio is > than a threshold.
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david42
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Post by david42 on Apr 22, 2018 20:26:38 GMT
Not quite true. The quarterly fee is only waived if you hold investments worth £15,000 or more in IG Smart Portfolio, which itself has a management fee of 0.65%
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moogman
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Post by moogman on Apr 23, 2018 6:41:34 GMT
Do people split over multiple brokers, £50k each to retain the FSCS protection?
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stevio
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Post by stevio on Apr 23, 2018 7:12:03 GMT
Do people split over multiple brokers, £50k each to retain the FSCS protection? I considered this - however you need to take into account buying/selling costs - with a fixed cost broker the costs would be multiplied by the number of platforms you split across - however maybe at £50k chunks the transnational cost is minimal
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kmac
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Post by kmac on Apr 25, 2018 7:33:02 GMT
I also use IG to buy and hold. My fees are £22 per quarter and £8 per trade. But the quarterly fee is reduced by the trade costs, so 3 trades a quarter eliminates the £22. It is easy to use. I transferred in for free. I don.t know if it is still free. It might have been a special offer. Worth a look I have just discovered IG has a refer a friend scheme. The payment is to the referer only. If any one wants to trust me with their name and e mail address, I would be happy to refer you and I will pay the refer payment to this forum to help with the running cost. If you are interested send me a PM
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