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Best platform to buy IT and shares on
Senny
Posted: 05 June 2017 07:25:23(UTC)
#1

Joined: 10/11/2016(UTC)
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Hi,

Still quite new to investing but think I have managed to get a handle on the basics and so far have only invested in funds and have a good (well I consider good) core holdings which are doing me well.

However I was looking into IT (MNL and SMT mainly) and a few shares (like Royal Dutch Shell) which look like good buys. At the moment my funds are held with HL however I feel that if I invest in IT and shares (I'll be putting in £500 at a time), by the time that you've taking into account the transition costs you loss around the first 5% of gains. So I've looked around and found IWeb which charges significantly less (more than 50% less) and was wondering if anyone has any experience using it?

David
Mickey
Posted: 05 June 2017 07:48:35(UTC)
#2

Joined: 21/06/2010(UTC)
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One option at HL is to buy smaller amounts via Regular Savings, the cost is £1:50 plus stamp duty. Smallest amount is £25.
http://www.hl.co.uk/investment-services/vantage-service/regular-savings
andy mac
Posted: 05 June 2017 10:35:29(UTC)
#3

Joined: 12/02/2016(UTC)
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I use Iweb for day to day dealing and have for about 2 yrs now no complaints
There is an initial £25 set up down from £200

I assume you are using an ISA for your money

Dont forget ongoing charges for funds on HL
As Mickey said regular savings rather than one of may help.
I dont know if Iweb have this facility but check it out with then ( I think they do)

P L
Posted: 05 June 2017 10:45:02(UTC)
#4

Joined: 10/08/2008(UTC)
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You could look at X-O (www.x-O.co.uk), very basic but does the job for £5.95/deal and no charges for corporate actions. Unfortunately no auto-dividend reinvestment mechanism.

Also there is a new kid on the block in the form of Degiro (www.degiro.co.uk)
£1.75 + 0.004% (capped at £5) per deal. So a £1000 deal is only £1.79.
Again no auto dividend reinvestment.

Neither have any annual fee.

Degiro don't currently do ISA accounts

Then only downside is it is dutch and therefore covered not by the FSA but by the dutch equivalent (20,000 euro). However as the nonimee holding are segragated like all firms there is in theoryminimial risk.
dyfed
Posted: 05 June 2017 10:47:26(UTC)
#5

Joined: 01/09/2016(UTC)
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Try "broker compare"
Hmmmmm
Posted: 05 June 2017 14:45:44(UTC)
#6

Joined: 15/10/2008(UTC)
Posts: 24

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You may want to concider buying a fund(s) intially, which has zero transaction charges, until you have sufficient to make a larger purchase of an IT/share. Say once per year, when the fixed transaction charge would be a much lower % of £6000!

iWeb are very good from my experience.
David Appleby
Posted: 05 June 2017 17:25:30(UTC)
#7

Joined: 23/08/2015(UTC)
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Was thanked: 5 time(s) in 4 post(s)
Fidelity Personal Investing charge 0.1% for ITs and EFTs which works out at 50p for a lump sum of £500.They have a very good web site too and offer a much greater choice of ITs than HL.
Alan Selwood
Posted: 05 June 2017 22:58:07(UTC)
#8

Joined: 17/12/2011(UTC)
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I have used AJ Bell, Halifax Share Dealing, iWeb and X-O.

No real problems with any of them.

AJB now comes out the most expensive of these, thought they are still cheap compared with HL for funds. Looking less viable for shares and ITs, given that holding these is now chargeable too.

For funds, iWeb and HSD are probably the most versatile; X-O has quick phone response, and the only snag I hit with them apart from not doing funds was recently when their Security Certificate was flagged by my computer as not valid. They put this right after I told them.

Once you've paid your £25 entry fee, iWeb are very cost effective for lump sum purchases at £5 each. HSD are relatively expensive per deal, like HL.
1 user thanked Alan Selwood for this post.
dlp6666 on 07/06/2017(UTC)
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