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I am thinking of changing my online trader, who should i use?
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Magic94
Posted: 07 September 2010 22:20:51(UTC)
#41

Joined: 04/03/2009(UTC)
Posts: 4
There is no need to shout which is waht you are doing by using all capital letters
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Magic94
Posted: 07 September 2010 22:22:01(UTC)
#42

Joined: 04/03/2009(UTC)
Posts: 4
I agree
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Muggle
Posted: 07 September 2010 23:02:33(UTC)
#43

Joined: 14/05/2010(UTC)
Posts: 7
I have used selftrade for many years. never had any problems and I think they are cheaper than HL or Barclys so far as I ca see. Dont expect any advice though
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Tomwise
Posted: 08 September 2010 08:38:21(UTC)
#44

Joined: 01/05/2007(UTC)
Posts: 1
Hargreaves accept money by BACS but will only pay out if you first send in a request by post and then they post you a cheque. A big nuisance.
Selftrade OK but they have introduced annual charge of £35 + VAT per account. My wife has an account, I have one & we have a joint one: gets to be expensive. They used to pay for transfer of equities from other brokers, but they charge for transfering from themselves to another broker (they are not the only ones to do so).
Hargreaves gives better discounts and on more OEICS than Selftrade.
Also Selftrade is French owned, that might put you off. But doesn't France now own almost everything in UK, bought by entities that are partly French government owned?
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Mike V
Posted: 08 September 2010 11:28:01(UTC)
#45

Joined: 07/07/2008(UTC)
Posts: 17
I have no experience of using TDW's services on-line. I used to do quite significant telephone trades with them about 10 years ago until I had a terrible experience with them that cost me tens of thousands of pounds. I took legal advice and was assured I had a cast iron case for compensation. However this involved obtaining accurate copies of our telephone conversation recordings - for which they charged around £150. Apart from the fact that it took months for these recordings to arrive, when we listened to the key recording there were long silences and absolutely no record of the key promises made by TDW staff which was the crux of the matter. My legal adviser and myself were convinced the record was most inaccurate but also realised we had little recourse other than to sit on the matter. No compensation of any kind was ever obtained from TDW.
Sworn statements of this case can be provided should there be any question of litigation.
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jebc
Posted: 08 September 2010 19:41:00(UTC)
#46

Joined: 22/06/2009(UTC)
Posts: 1
I live in Malta and cannot use a UK online broker because of my residency status.

Can anyone recommend an offshore online broker that they have used and been satisfied with?

Thanks.
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deadly
Posted: 09 September 2010 09:36:43(UTC)
#47

Joined: 07/09/2010(UTC)
Posts: 3
As I indicated above Interactive Brokers cannot be beaten (NOT the same as iii).
Not as good or as cheap, Internaxx are OK for offshore.
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Cockney Dave
Posted: 09 September 2010 09:50:17(UTC)
#48

Joined: 19/05/2009(UTC)
Posts: 13
Mike V - Im sorry to hear of the situation you had, its a touch thing to go through. But it is a horrible circle of how the insiders can provide tips and long term get away with incorrect information. I was chatting to a chap who know a vry wealthy chap who had a friend in the home office and knew of a government contract that was out for tender. He was informed of who will get the contract before the market knew and earnt a fortune. We all know that this happens all the time (sorry to all those honest traders out there) but this is the horrible part of this game. I just wish i could get some honest true tips like that, but who do you trust, its a difficult one.
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Mike V
Posted: 09 September 2010 11:19:22(UTC)
#49

Joined: 07/07/2008(UTC)
Posts: 17
Cockney Dave - My problem had absolutely nothing to do with 'insider' trading etc. I had asked for advice about transferring assets to my wife etc to make use of Capital Gains allowance for shares I wanted to sell asap. The TDW advisor assured me that this could be done within 2 days. If I had not received this assurance I would have sold and paid the tax - the profit was around 400%. Detailed instructions were given involving setting up these accounts in the swiftest possible way. These were followed to the letter - including sending all necessary documentation by guaranteed next day delivery. TDW managed to lose them in their post room. By the time the accounts were set up - around 10 days later - the share price in question had dropped from $200 to $80 !!!
I was abroad at the time and blissfully unaware of the abrupt fall. This was in that dot.com/tech boom period when things happened incredibly rapidly.
I raised a high level complaint with TDW and they went into acute denial. In my sad experience they are not to be trusted. They have, or certainly had, a culture that did not have their clients best interests at heart.
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orchardsparks
Posted: 06 October 2010 17:35:33(UTC)
#50

Joined: 12/10/2009(UTC)
Posts: 6
It depends on whether you need advice or not. Assuming you don't I use Selftrade but, to avoid having everything with one broker, we transferred my wife to The Share Centre.

Selftrade took ages to complete the in specie transfer.

Share Centre do publish their in house views and their frequent trader transaction charges are only £7.50 a trade. Selftrade has better graphs so that you can more easily track prices on specific dates.
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Mickey
Posted: 08 October 2010 09:48:20(UTC)
#51

Joined: 21/06/2010(UTC)
Posts: 34

Was thanked: 4 time(s) in 4 post(s)
Whatever you decide, I'd avoid NatWest Stockbrokers. I was with them for awhile and found their service pretty lame although I believe it routes through TD Waterhouse. I find Hargreaves-Lansdwon a bit expensive for smaller trades of stocks but acceptable as the service is first class. Whichever way you look at it, compared to dealing costs 10 years ago things are a lot cheaper everywhere now.

HTH,
Mickey
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Mickey
Posted: 08 October 2010 09:48:20(UTC)
#51

Joined: 21/06/2010(UTC)
Posts: 34

Was thanked: 4 time(s) in 4 post(s)
Whatever you decide, I'd avoid NatWest Stockbrokers. I was with them for awhile and found their service pretty lame although I believe it routes through TD Waterhouse. I find Hargreaves-Lansdwon a bit expensive for smaller trades of stocks but acceptable as the service is first class. Whichever way you look at it, compared to dealing costs 10 years ago things are a lot cheaper everywhere now.

HTH,
Mickey
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BrianM
Posted: 27 October 2010 17:00:26(UTC)
#53

Joined: 08/10/2009(UTC)
Posts: 1
I just tried to open an account at IB and after spending about 25 minutes filling in numerous forms online with four signatures up to now and specifying my base currency as GBP They say I have to deposit funds to cover Market Data which I do not want in any event.
However I guess that, as you could probably select no market data once you get the account open, I proceed to try to deposit funds only to be presented with all options to pay only in USD.
I tried to ring support via their European number within the hours stated on their site to be told that there are no staff to take your call. Great !"!!
What a waste of half an hour of my life. I´ll stick with TDW in spite of their increasing their commission to £12.50 a deal.
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deadly
Posted: 27 October 2010 18:43:55(UTC)
#54

Joined: 07/09/2010(UTC)
Posts: 3
I had no such problem. Funds were and are in GBP.
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