Any suggestions regarding which websites are good for a small investor (couple of grand initially), making a low number of transactions per month? Your comments much appreciated, as there seem to be quite a few options out there, and apologies if this has been "done to death" in another recent thread.
cheers,
Ian
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S
Sunil Sood
I wuld recommend Comdirect
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Several reasons:
- they charge a flat 12.50/trade regardless of if its done online or by telephone
- they have good customer service including their own discussion board on
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which they actively monitor and participate in. - they don't charge a "inactivity fee" like some other brokers or account fees for their standard dealing accounts - they allow you to buy shares abroad (i.e. american shares) if you want - if you wanted an ISA, they charge 25/year which is one of the lowest - there web site also includes some research information on many companies Also, if you're not currently a member of Comdirect and are referred by an existing customer, you get 50 as a "joining bonus" (the referrer gets the same)- so if you're interested in joining let me know (my email address is valid)
Regards Sunil
J
Jonathan Bryce
Halifax and HSBC charge £11.95 for online trades. Is there any reason why you don't suggest them? I haven't used either of them, or indeed any other broker, so I can't comment.
I
Ian Smith
Sunil, thank you very much for that information. If I decide to join Comdirect, will contact you.
cheers,
Ian
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Sunil Sood
Hmm - as I wasn't aware of the HSBC/Halifax "headline" rates
However, looking at them and comparing them to Comdirect..
Comdirect charge a flat 12.50/trade whether its done online or via telephone and regardless of which country you are buying shares in (UK/US etc) or if its in your ISA or not.
HSBC charge 11.95 for UK trades done online which is cheaper than Comdirect
If its done by telephone the charge is also 11.95/trade but this will change to between 15-60 from the 1st March depending on the trade value. (i.e. more expensive than Comdirect) If trades are carried out in an ISA they also incur any extra 5 charge per trade as well for some reason. If buying foreign shares the commission charges also appear to be even higher!
As you also say, Halifax seem to charge 11.95/trade for online trades - however, the fees for telephone trades appear higher (between 15 and 60). They also seem to have a whole range of other "Administration charges" as well and I can't tell from their web site if they are limited to UK shares only or not.. though I think they may be.
As such, even having looked at these offerings, I would still recommend the simplicty of Comdirect's charging structure compared to the above.
Regards Sunil
C
criticaldensity
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charge 7 pounds, but I have no experience of them personally. cd
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