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Halifax / IWeb questions
Posted: 21 October 2016 11:56:47(UTC)

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I'm looking at moving to either Halifax or IWeb from the Share Centre.

What are other poster's experiences with either of these platforms?

Couple of things in particular:

- is there any meaningful difference with Halifax's offering (e.g. better user interface) that would make it worth paying the higher trading fees?
- what is the general quality of the UI?
- any bad experiences with either platform?
andy mac
Posted: 21 October 2016 12:43:52(UTC)

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I use Iweb amongst others had no problems really
Their sweep over of dividends didnt work for a few months and they had to do it manually after it was pointed out but was sorted after a couple of months

I got in while it was low entry fee (was it £20) now £200
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tom_b on 22/10/2016(UTC)
Posted: 21 October 2016 13:24:21(UTC)

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I have an account with iWeb. The interface is ok, but not as good as some competitors. Sometimes buying and selling doesn't work and you have to do so by calling them up. I'm not clear whether this has any impact on the price secured, but it's certainly inconvenient.
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tom_b on 22/10/2016(UTC)
Rob Dewing
Posted: 21 October 2016 13:40:42(UTC)

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I moved a load of ISAs from Alliance ATS when they put their price up, to Halifax. Halifax administered the move competently and I get on fine with their interface. It has to be said I am not a frequent dealer, but the few deals I have done have all gone fine.
Andrew May
Posted: 21 October 2016 14:04:32(UTC)

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I have SIPP and ISA accounts with three providers: H-L, Bestinvest and iWeb. I also got in before iWeb upped their charges. In general I use H-L for my more active trading (but still not a frequent trader), and only in ITs and stocks - charges are too high if you have significant UT holdings - but the website is good, as is service.

I use iWeb for my longer-term UT holdings and don't trade or research much on their site, but it seems fine and I like the low costs. never had any problems when I do trade.

(Can't remember why I still have Bestinvest, maybe just prefer to psread my assets a bit!).

Sorry can't comment on vs Halifax; no experience.
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tom_b on 22/10/2016(UTC), Mike L on 21/12/2016(UTC)
Law Man
Posted: 21 October 2016 14:12:29(UTC)

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Choice of a nominee depends on:

(1) what type of account you want: SIPP, ISA or basic dealing account;

(2) what assets you buy: OEIC funds or shares inc ITs & ETFs

(3) what level of service you expect.

For example: no annual charge or entry fee for HL basic dealing a/c, up to £45 for ISA, and up to £200 for SIPP. OEICs cost up to 0.45% p.a.
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tom_b on 22/10/2016(UTC)
Posted: 21 October 2016 16:23:43(UTC)

Joined: 07/04/2014(UTC)
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Have used iWeb for about 2 years now mostly for Investment trusts buying/selling, the odd unit trust and etf. Transaction fees very low, holding fees nil and you can set up buying and selling orders by price of the stock if you wish. Interface is functional and you need to read the definition of the input fields carefully before pressing the button. All in all, good value for money but not spectacular in execution.
Neal Morris
Posted: 21 October 2016 19:11:03(UTC)

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Word of warning. IWEB won't let you trade most fixed income investments. I tried to buy some coop 11% subordinate bonds and they refused to take the order. I also tried to buy some preference shares and they refused. The final straw came when I tried to buy some Enquest retail bonds and they refused. Other problems I've had in the past included late or non payment of dividends.

I think iweb are a bit dodgy and would strongly recommend you avoid them. Perhaps take a look at AJ Bell of H&London.
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huudi on 22/01/2018(UTC)
Alex Peard
Posted: 21 October 2016 19:12:30(UTC)

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I've used IWeb for the last eighteen months (before the entry charge went up) and am happy with the service. I am constructing ISA income portfolios using individual shares/IT's.

I have not used IWeb for OEICS although may do in the future - my only concern here is that they don't cover anything like the number available on HL.

I tend to do my research on HL, who in the future am going to use solely for OEICS where IWeb don't cover them, but still have existing ISA's with them. I intend to gradually wind our HL ISA's down and reinvest through IWeb

I don't think IWeb's customer service is quite up to the excellent level of HL's but their dealing charges are so much lower that this makes up for it.

My wife has an account with Halifax Sharedealing but it is basically the same website (both owned by Lloyds) and costs are higher so we aren't investing new amounts there.
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tom_b on 22/10/2016(UTC)
william barnes
Posted: 21 October 2016 20:33:40(UTC)

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Hi ive been with iweb for many years and have 2 substantial isa's (myself and mrs both in excees of 500k each).
iweb is ideal as a cheap and cheerful and does simply as it says on the tin.i only hold equities and investment trusts. you cannot beat the charges and i deal several times each month.the only time i couldnt use the online dealing was the day after brexit but this was a problem with all uk brokers.
i also have a sipp with hargreaves landsdown because i web contracts aj bell to run their sipps.Hargreaves l is cheaper to run a sipp than iweb.
you cannot compare the service provided by hargreaves to iweb.hargreaves is far upmarket and excellent but you do pay for it.
for a simple isa holding equities and inv trusts iweb wins.
Colin Deakins
Posted: 21 October 2016 21:30:34(UTC)

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Slightly off topic but i am moving OEICS from Bestinvest to Charles Stanley with a platform fee of 0.25% compared to 0.4% with Bestinvest who don't do daily updates of my fund portfolio. That said share dealing fees are cheaper with B I.

Comments welcome on my choice of platform
Mostly Retired
Posted: 22 October 2016 06:39:34(UTC)

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I have used the Halifax platform for several years.

It is effective for everything that I need and when I have had occasion to speak to them the support has been very good. The research side I don't tend to use as I prefer other suppliers such as Morningstar, FE Trustnet etc. etc.

In my view, they are good value for the money and reliable. Trades executed on time and accurately, which is really the key for me. I hold ISA and "standard" dealing accounts, but no SIPP. I don't find that the "platforms" such as H-L attractive due to their added costs as I do my own research and hold a mixed bag of trusts/oeics/UK and non-UK direct equities.
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tom_b on 22/10/2016(UTC)
Posted: 22 October 2016 16:35:03(UTC)

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Thanks everyone for your replies.

Law Man - I hold mostly ITs and one fund in an ISA and a dealing account. I'll make one trade a month plus rebalance occasionally if needed.

Your point regarding service is a good one - I like that aspect of HL, but struggling to convince myself that it is worth the extra £200 p/a that it would cost me.

Posted: 23 October 2016 11:15:20(UTC)

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I don't quite understand this "better service" thing.
By law none of them is allowed to give you investing advice.
Research facilities on equities could be a differentiator but then it basically comes down to which supplier they use for the web data ( Morning Star or Digital Look) and what how much they pay their supplier for an appropriate level of data.
I use Jarvis X-O, I-Web, You Invest, and First Direct bank. X-O and FD don't do open ended funds but I have no criticism for any of these brokers. As I am mainly concerned with equities then for my research I use Digital Look's own website which excellent - so essentially I just use my four brokers as brokers.
My view: Go for value (minimum costs).
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tom_b on 23/10/2016(UTC), Rishan on 23/10/2016(UTC), Mike L on 17/12/2016(UTC)
Posted: 23 October 2016 11:53:35(UTC)

Joined: 24/03/2016(UTC)
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john_r - by service I mean things like not making mistakes, answering the phone promptly etc.

In general I agree with you about going for lower costs, but I want to be sure that a cheaper provider won't be a source of unnecessary hassle.
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john_r on 24/10/2016(UTC)
Posted: 21 December 2016 07:48:54(UTC)

Joined: 19/02/2012(UTC)
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My experience is that when I have had a problem or query, which has happened more frequently than with my other dealing service, the person on the other end of the 'phone is not very informed and cannot easily resolve my problem and it ends up with letters back and forth etc.
Mr Helpful
Posted: 27 November 2017 19:10:12(UTC)

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"The IWeb Share Dealing Service is operated by Halifax Share Dealing Limited".

Can anyone explain what the above statement means?
I.E. who are IWeb exactly?
Posted: 29 November 2017 16:32:45(UTC)

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iWeb are owned by Halifax (I believe they were independent a few years ago and were bought), and use A J Bell trading service.
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Mr Helpful on 29/11/2017(UTC), AJW on 22/01/2018(UTC)
Posted: 29 November 2017 21:49:01(UTC)

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As mentioned in other forums on a similar topic, I'm saving myself about £250 p/a after moving some of my ISA investments from HL to iWeb. I've been with iWeb now for many years and became an investor with them before they introduced their £200 joining fee, so costs with iWeb are virtually non existent!

What's not been mentioned on this thread is that iWeb are NOT in themselves a platform. They are just a broker, but they utilise Cofunds as a platform for their clientele.

The restriction on the choice of investments come from Cofunds and not iWeb, although from a customers point of view, that's probably neither here nor there. If Cofunds won't accept a certain investment, then iWeb won't accept it either, so it's back to HL (or another investment house that WILL accept your fund/s etc.)

No problem with receiving my due dividends from iWeb. As soon as they appear in my iWeb account on their website, they pay them immediately into my bank account. Unlike HL, who only pay out dividends on one day of the month. So if dividends show up on, say, the 13th of the month and your payday is the 14th of the month, that will be too late for HL to pay you, so you have to wait for a whole month before you receive that particular payment. Not so with iWeb, you'll get it within a couple of days!
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Mr Helpful on 30/11/2017(UTC)
Chris Howland
Posted: 29 November 2017 21:59:54(UTC)

Joined: 19/08/2017(UTC)
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I've used Halifax for over a decade, without any issues at all. I have ISA and 'standard' accounts as does my wife. Standard account is free and the ISA cost is £12.50 per annum.

Funding accounts via a debit card is simple, and funds may be traded immediately.

Orders are executed very promptly, and executed price and trade costs are reported once the trade concludes. Only where a buyer/seller is not immediately available might there be a delay, although in my experience this is infrequent, and trades complete within five minutes.

The web site interface is simple and functional. Recent changes included the export of data as a csv file.

Research information is fairly rudimentary, but as others have said this isn't a major inconvenience.

Once a month Halifax have a two hour low cost trade window where UK and international equities can be traded for £3.95.

Whilst there are no real 'whistles and bells' the stability and availability of the site is a major plus point for me (and monumentally better than the Co-op bank have managed recently).

It works and I've never thought of moving elsewhere.

2 users thanked Chris Howland for this post.
Colb on 29/11/2017(UTC), J Thomas on 30/11/2017(UTC)
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