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Low cost Stocks & Shares (Investment) ISAs: The Best Currently Available List!
Options
Special_Saver2
Posts: 1,434 Forumite
1. Introduction
I have created this thread to share information regarding the cheapest ways to make investments using tax-free wrappers. I hope that this information will help others and that they will contribute too. This thread is meant to complement Martin Lewis' articles such as the page on ISA Discount Brokers by adding a few very good options that are not listed on that page.
This thread is intended for people who are experienced in choosing and managing investments. If you are new to investing then you should really seek advice from an Independent Financial Adviser.
This thread is just for investment wrappers. If you are interested in tax-free savings (where your capital is not at risk) then I would suggest you look at Kazza242's thread Mini Cash ISAs: The Best ISAs Currently Available List.
If you want to discuss what sort of investment to put in the wrapper then I would suggest that you search the Savings & Investments forum and if you cannot find the information that you need then post your question in a new thread.
If you want to trade shares outside an ISA (e.g. you have filled up your ISA allowance for this year) then there are some options that are not covered in this thread and you may wish to look at the International Investor's table for more details.
If you have an existing S&S ISA with unit trusts or open-ended investment companies (OEICs) and you do not receive a rebate of the annual (trail) commission, you might want to transfer it to one of the discount brokers in post 2. Do bear in mind that once you transfer to a new broker, any future purchases will be charged at their initial commission rate which may be better or worse than your current broker. Also, if you are changing platform then the transfer might involve selling and re-purchasing some of your investments. The sale and purchase will be at a different rate due to a time delay between the sale and purchase and there may also be a cost due to a bid-offer spread or a dilution levy on your investment. Some investments can be "re-registered" which means you will not need to sell and re-purchase them - you can check this with the platform that you are thinking of transferring to. If you are staying with the same platform and just changing agent then you do not need to worry about this; you simply fill in a change of agent form along with any other registration paperwork that your new discount broker requires.
I will update this thread in January each year. I will also update this thread when forum users point out any product changes - either send me a PM or post a message on this thread.
Please feel free to bookmark this page and provide a link when somebody asks a question in the forum that is easily answered by reading this thread.
Please let me know if there are any others that I have missed and please post any comments that you have on customer service or the usefulness (or hopelessness!) of their online systems and customer service.
Other pages that you might find helpful:
Candid Money site: Trail commission rebates to be taxed (March 2013)
Candid Money site: Comparison of S&S ISA brokers
Langcat guide: Direct Approach to Platform Investing
Monevator site: Compare the UK's cheapest online brokers
International Investor site: Best UK online stock brokers, International stock brokers in the UK, UK International Online Stock Broker Comparison Table
MSE Forum: Which platform for investing in ETFs?
MSE Forum: £1.50 Regular Investment Service
MSE Forum: Which S&S ISA provider for low cost trackers? (October 2011), Best S&S ISA for index trackers (March 2012)
For some people it may make more sense to invest using a self investment personal pension (SIPP). You may wish to check out these pages:
MSE Forum: ISAs v Pensions: The Official Retirement Debate
MSE Main Site: Cheapest SIPP: Build a low cost DIY pension
MSE Forum: SIPP, Hargreaves Lansdown and Funds
Candid Money site: Guide to Low cost SIPPs
Candid Money site: Compare Fund Platforms
MSE SnowMan's spreadsheet to enable platform charges to be calculated and compared between platforms for clean share price pricing (allows for dealing costs also through number of sales and purchases inputs) can be found by going to this post.
There are also helpful articles about the new pricing structures from different providers.
FT.com article: More transparency for platforms, but more complexity too
Lang Cat Financial article: Fashionably late - Halifax Sharedealing and Bestinvest slink in at the back
I have created this thread to share information regarding the cheapest ways to make investments using tax-free wrappers. I hope that this information will help others and that they will contribute too. This thread is meant to complement Martin Lewis' articles such as the page on ISA Discount Brokers by adding a few very good options that are not listed on that page.
This thread is intended for people who are experienced in choosing and managing investments. If you are new to investing then you should really seek advice from an Independent Financial Adviser.
This thread is just for investment wrappers. If you are interested in tax-free savings (where your capital is not at risk) then I would suggest you look at Kazza242's thread Mini Cash ISAs: The Best ISAs Currently Available List.
If you want to discuss what sort of investment to put in the wrapper then I would suggest that you search the Savings & Investments forum and if you cannot find the information that you need then post your question in a new thread.
If you want to trade shares outside an ISA (e.g. you have filled up your ISA allowance for this year) then there are some options that are not covered in this thread and you may wish to look at the International Investor's table for more details.
If you have an existing S&S ISA with unit trusts or open-ended investment companies (OEICs) and you do not receive a rebate of the annual (trail) commission, you might want to transfer it to one of the discount brokers in post 2. Do bear in mind that once you transfer to a new broker, any future purchases will be charged at their initial commission rate which may be better or worse than your current broker. Also, if you are changing platform then the transfer might involve selling and re-purchasing some of your investments. The sale and purchase will be at a different rate due to a time delay between the sale and purchase and there may also be a cost due to a bid-offer spread or a dilution levy on your investment. Some investments can be "re-registered" which means you will not need to sell and re-purchase them - you can check this with the platform that you are thinking of transferring to. If you are staying with the same platform and just changing agent then you do not need to worry about this; you simply fill in a change of agent form along with any other registration paperwork that your new discount broker requires.
I will update this thread in January each year. I will also update this thread when forum users point out any product changes - either send me a PM or post a message on this thread.
Please feel free to bookmark this page and provide a link when somebody asks a question in the forum that is easily answered by reading this thread.
Please let me know if there are any others that I have missed and please post any comments that you have on customer service or the usefulness (or hopelessness!) of their online systems and customer service.
Other pages that you might find helpful:
Candid Money site: Trail commission rebates to be taxed (March 2013)
Candid Money site: Comparison of S&S ISA brokers
Langcat guide: Direct Approach to Platform Investing
Monevator site: Compare the UK's cheapest online brokers
International Investor site: Best UK online stock brokers, International stock brokers in the UK, UK International Online Stock Broker Comparison Table
MSE Forum: Which platform for investing in ETFs?
MSE Forum: £1.50 Regular Investment Service
MSE Forum: Which S&S ISA provider for low cost trackers? (October 2011), Best S&S ISA for index trackers (March 2012)
For some people it may make more sense to invest using a self investment personal pension (SIPP). You may wish to check out these pages:
MSE Forum: ISAs v Pensions: The Official Retirement Debate
MSE Main Site: Cheapest SIPP: Build a low cost DIY pension
MSE Forum: SIPP, Hargreaves Lansdown and Funds
Candid Money site: Guide to Low cost SIPPs
Candid Money site: Compare Fund Platforms
MSE SnowMan's spreadsheet to enable platform charges to be calculated and compared between platforms for clean share price pricing (allows for dealing costs also through number of sales and purchases inputs) can be found by going to this post.
There are also helpful articles about the new pricing structures from different providers.
FT.com article: More transparency for platforms, but more complexity too
Lang Cat Financial article: Fashionably late - Halifax Sharedealing and Bestinvest slink in at the back
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Comments
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2. Cheapest Stocks & Shares ISA for Unit Trusts and OEICs
No Annual Fee
IWeb
Annual fee: None [SIPP: £90 for balances under £50,000, £180 over £50,000]
Transaction fees: £5 per transaction for funds
Platform: Halifax Share Dealing's platform
Transfer out: £25 + VAT per stock (capped at £125 for transfers electronically to another broker)
Other: £25 charge for the first account (ISA or other account) that you open. Also offer cheap share dealing - see post 3.
Fixed Annual Fee
Halifax Share Dealing
Annual fee: £12.50 [SIPP: £90 for balances under £50,000, £180 over £50,000]
Transaction fees: £12.50
Platform: Halifax's own platform
Transfer out: £25 per investment, maximum £125
Other: Can also buy shares using the same platform
The Share Centre (standard account)
Annual fee: £57.60 [SIPP: £172.80]
Transaction fees: 1% per deal, minimum £7.50; regular dealing fee 0.5% (minimum £1)
Platform: Unknown
Transfer out: £25 per holding
Other: On pages 2 and 3 of this thread, mikebeaches explains how you can save costs by switching on and off the frequent dealer option in a single 3 month period, which is handy if you do all your trading at the beginning of the tax year. Up to £300 towards transfer fees when transferring to them from another provider. Free conversion of existing funds to clean funds. Can also deal in shares, ETFs, corporate bonds, gilts, warrants, securitised derivatives, exchange traded commodities and nil paid rights
iii
Annual fee: £80 (but you get £20 per quarter worth of transactions included and accounts of family members can be linked so that they only pay one £20 charge per quarter per family and some new customers are exempt) [SIPP: £144]
Transaction fees: £10, £5 per transaction for 11th and subsequent transactions each month
Platform: Cofunds
Transfer out: £15 per stock (but they will waive this for up to 10 lines of stock for accounts open less than 1 year)
Other: They also offer share dealing - see post 4. Other charges here.
Alliance Trust
Annual fee: £75 [SIPP: £186]
Transaction fees: £12.50 per purchase or sale online, £40 per transaction by telephone or post; the purchase fee can be reduced to £1.50 (online) or £5 (telephone or post) if you invest monthly by direct debit. Loyalty Discount on dealing charges if you have been a customer for more than 5 years, prices guaranteed until 2016.
Platform: i.nvest (Alliance Trust's own platform)
Transfer out: £100 + VAT + sale / investment transfer charges or £20 if transfer as a share certificate (free if transfer out to another nominee)
Other: Can also buy shares in this S&S ISA - see post 4.
The Share Centre (frequent dealer account)
Annual fee: £153.60 [SIPP: £268.80]
Transaction fees: £7.50; regular dealing fee 0.5% (minimum £1)
Platform: Unknown
Transfer out: £25 per holding
Other: Up to £300 towards transfer fees when transferring to them from another provider. Free conversion of existing funds to clean funds. Can also deal in shares, ETFs, corporate bonds, gilts, warrants, securitised derivatives, exchange traded commodities and nil paid rights
Percentage Annual Fee
YouInvest (formerly Sippdeal)
Annual fee: 0.2% (capped at £200 per year) Changing from 1st October 2016: 0.25% per year for the first £250,000, 0.10% per year for the next £250,000 to £1m, 0.05% per year for the next £1m to £2m, 0% over £2m [SIPP: same price + £20-100 depending on your total balance]
Transaction fees: £4.95 changing to £1.50
Platform: YouInvest's own platform
Transfer out: £25 per investment (but no charge if you wish to make a cash transfer to another ISA provider; £75 fee for non-ISA accounts)
Other: There is a "disinvestment charge" of £29.95 per holding for selling funds to cover account fees. You can also buy shares and other investments in this S&S ISA - see post 3.
Fidelity Direct (for £250,000+)
Annual fee: 0.2% on £250,000-£1 million, no fees on any assets over £1 million. If you have less than £250,000 then the charge is 0.35% and you would be better off going via Cavendish (see entry below). [SIPP: tiered charges starting at 0.65%, total charge of 0.5% if balance £100,000 to £500,000, 0.45% if balance >£500,000]
Transaction fees: None
Platform: Fidelity Fundsnetwork
Transfer out: No charge
AXA Self Investor (for £250,000+)
Annual fee: 0.2% if you have £250,000 or more invested (0.35% on under £250,000)
Transaction fees: None
Platform: Unknown (but you can see their fund range here)
Transfer out: No charge
Other: No fees until 1st May 2016 for new customers.
Clubfinance (Frequent Trader)
Annual fee: 0.24% (minimum £120 per year) [SIPP: same cost]
Transaction fees: initial charge on some funds
Platform: James Brearley stockbroker
Transfer Out: £10 per stock
Trustnet Direct
Annual fee: 0.25% (minimum £20, maximum £200) [SIPP: same cost + £144, waived for first year]
Transaction fees: £10, £6 after 10th trade each month (excluding monthly investments), £2 for monthly investments in funds or shares (four funds or shares for free for first year as an introductory offer). Rebate of £10 per stock (maximum £100) for exit fees from another provider. Guaranteed no fee rises until February 2017. Service includes managed funds, ETFs, ITs and shares. Details on this Trustnet page and discussed in this MSE thread.
Platform: Own platform
Transfer out: £15 per stock (£20 per stock in certificate form)
Charles Stanley Direct
Annual fee: 0.25% for funds (0.15% on funds above £500,000, 0.05% on £2 million or more), 0.25% for shares (minimum £20, maximum £150, no charge if 6 chargeable trades in 6-monthly charging period which starts on 1st April and 1st October) [SIPP: same charge + £120 per year]
Transaction fees: None
Platform: Unknown (Candid Money website states they use Cofunds)
Transfer Out: £10 per stock
Cavendish Online
Annual fee: 0.25%, see this thread.
Transaction fees: None
Platform: Fidelity FundsNetwork
Transfer Out: No charge
TD Direct Investing
Annual fee: 0.3% on the first £250,000 per account, 0.2% on the balance over £250,000 per account, maximum £1,500 fee per account. No fixed annual fee if you have a balance of £5,100 on the last business day of May or if you have a regular investment facility set up (otherwise an annual fee of £30 + VAT applies) [SIPP: 0.5% (minimum £96, maximum £240)]
Transaction fees: None online, £40 for telephone transactions
Platform: Own platform
Transfer out: £35 + VAT per holding
Other: Also see post 3 for details of trading shares and bonds.
Clubfinance (Fidelity Fundsnetwork)
Annual fee: 0.3% + £45 for Fidelity FundsNetwork
Transaction fees: 0.25% on some switches
Platform: Fidelity FundsNetwork
Transfer Out: No stated fee. The terms and conditions state in section 3.4(a) that they could make a charge for this. Section 9(d) states that if you wish to transfer out following a change in terms and conditions then they will not charge you.
Clubfinance (Cofunds)
Annual fee: 0.34% on <£100,000, 0.31% on £100,00-£250,000, 0.28% on £250,000-£500,000, 0.25% on £500,000-£1 million, 0.2% on > £1 million
Transaction fees: 0.25% for switching funds and some funds have an initial purchase % fee
Platform: Cofunds
Transfer out: Not specified
rplan
Annual fee: 0.35% (0.25% for existing customers) as announced in this article
Transaction fees: None
Platform: Cofunds
Transfer out: No charge
HSBC Global Investment Centre
Annual fee: 0.39%
Transaction fees: None
Platform: Own platform
Transfer out: No fee
BestInvest
Annual fee: 0.4% on first £250,000, then 0.2% on £250,000 to £1 million, then no charge above £1 million [SIPP 0.3% on first £250,000 then charges as above] on all investments for new customers, existing customers with shares / ITs / ETFs will continue to pay a custody charge of £49.92 [SIPP £99.96] instead.
Transaction fees: None
Platform:Unknown
Transfer out: £25 per stock
Other: They will pay up to £500 towards exit fees if you are transferring from another provider.
Hargreaves Lansdown
Annual fee: 0.45% on the first £250,000 of funds; 0.25% for funds between £250,000 and £1m, and 0.1% for funds between £1m and £2m. Annual charge for holding shares, ETFs, VCTs, gilts, corporate bonds and investment trusts in an ISA 0.45%, maximum £45 per year. [SIPP same charges except cap is £200 per year]
Transaction fees: No charge for fund dealing except for dividend reinvestment, which will cost 1% (min £1, max £10) and occurs once £10 has accumulated. Beware, if your dividends get reinvested once they reach £10 then with a charge of £1, this represents a 10% cost.
Platform: Vantage (Hargreaves Lansdown's own platform)
Transfer out: £25 + VAT per stock
Other: They pay 0.20% net interest on cash balances.
Clubfinance (Skandia)
Annual fee: Tiered from 0.5% on first £25,000 (minimum charge £100 + 0.05%) going down to a 0.15% tier on a portfolio over £1 million for Skandia
Transaction fees: None
Platform: Skandia (see separate entries on Clubfinance for Cofunds and Fidelity FundsNetwork)
Transfer out: No charge0 -
3. Cheapest Stocks & Shares ISA for Corporate Bonds, Exchange Traded Funds, Gilts, Investment Trusts and Shares
Lowest Cost for Real Time Dealing, No Annual Fee
[FONT=Times Newbr / Roman]IWeb
[FONT=Times Newbr / Roman]Annual Fee: None (but there is a one-off £25 fee to open the account)
[/FONT][/FONT][FONT=Times Newbr / Roman]Planned Purchase Fee: Service removed [/FONT]31st March 2014
Real Time Purchase or Sale Fee:
Online transactions: £5
Telephone transactions: not specified
Domestic Trading: Shares, gilts, corporate bonds, gilts or preference shares with more than 5 years to redemption, investment trusts, exchange traded funds, unit trusts and OEICs (using Cofunds platform, no rebate of trail commission)
[FONT=Times Newbr / Roman]Overseas Trading: [/FONT]£5 for international trades, 1.5% foreign exchange charge; access to the following exchanges: New York (NYSE, NASDAQ, AMEX), Frankfurt (XETRA), Milan (MTA), Paris (EURONEXT), Amsterdam (EURONEXT), Brussels (EURONEXT)
Dividend Reinvestment: 2%, max £5
Corporate Actions: No charges
Closure Fee: None
Transfer Out: £25 + VAT per investment, capped at £125 + VAT
Other: Operated by Halifax Share Dealing Limited.
MSE Forum User Opinions / Experiences: Thread 1[FONT=Times Newbr / Roman], [/FONT]2, 3[FONT=Times Newbr / Roman], 4
[/FONT]
[FONT=Times Newbr / Roman]SVS Securities
[/FONT][FONT=Times Newbr / Roman]Annual Fee: None
[/FONT][FONT=Times Newbr / Roman]Planned Purchase Fee: Not available[/FONT]
Real Time Purchase or Sale Fee:
Online transactions: £5.75
Telephone transactions: £20
[FONT=Times Newbr / Roman]Domestic Trading:[/FONT] FTSE 350 shares only
[FONT=Times Newbr / Roman]Overseas Trading: [/FONT]Not available
Dividend Reinvestment: Not available
[FONT=Times Newbr / Roman]Corporate Actions: £10 charge[/FONT]
Closure Fee: None
Transfer Out: £15 per investment
Other: Other charges on this page. If you sign up during their "trade for a pound" promotion, then the commission is only £1 per trade for the first 30 calendar days.
MSE Forum User Opinions / Experiences: Thread 1
[FONT=Times Newbr / Roman]
[/FONT][FONT=Times Newbr / Roman]X-O
[/FONT]
Annual Fee: None
Planned Purchase Fee: Not available[FONT=Times Newbr / Roman]
Real Time Purchase or Sale Fee:
Online transactions: £5.95
Telephone transactions: not specified[/FONT]
[FONT=Times Newbr / Roman]Domestic Trading:[/FONT] Shares (including ITs and ETFs), corporate bonds, warrants
[FONT=Times Newbr / Roman]Overseas Trading: Only allows shares listed [/FONT]on the London Stock Exchange's International Retail Service (IRS) and CREST Depositary Interests (CDIs) of US stocks (fees as above)
Dividend Reinvestment: Not available
[FONT=Times Newbr / Roman]Corporate Actions: No charges[/FONT]
Closure Fee: £50 + VAT
Transfer Out: £15 + VAT per stock
Other: They provide a low cost Bed & ISA service (you pay the selling fee, stamp duty and bid-offer spread). They have an insurance-backed protection scheme that will provide protection for investors for £3 million; see here for more details. Some ETFs have been set up incorrectly on their system. If the X-O online dealing system informs you that it cannot be held in an ISA but the product literature tells you that it is possible, then e-mail X-O and they will correct the set-up on their system so that you can make the purchase.
MSE Forum User Opinions / Experiences: Post 11 and post 111 on this thread, thread 1, 2
Low Cost Planned Purchases, No Annual Fee
[FONT=Times Newbr / Roman]YouInvest (formerly Sippdeal)
[/FONT][FONT=Times Newbr / Roman]Annual Fee: None for shares, see in post 2 for details of charges for unit trusts and OEICs (Changes from 1st October 2016: 0.25% per year, capped at £30 per year)
[/FONT][FONT=Times Newbr / Roman]Planned Purchase Fee: [/FONT]£1.50 for FTSE 350 shares, selected investment trusts, ETFs and ETCs
Real Time Purchase or Sale Fee:
Online transactions: £9.95 (£4.95 if you have traded 10 times or more in the previous month)
Telephone transactions: £29.95
Domestic Trading: Shares, gilts, corporate bonds, permanent interest bearing shares, investment trusts, exchange traded funds, exchange traded commodities, unit trusts and OEICs
[FONT=Times Newbr / Roman]Overseas Trading: [/FONT]Only allows trading in CREST Depositary Interests (fees as above)
Dividend Reinvestment: Not available
[FONT=Times Newbr / Roman]Corporate Actions: No charges[/FONT]
Closure Fee: None
Transfer Out: £25 per investment (but no charge if you wish to make a cash transfer to another ISA provider)
Other: You can also trade in unit trusts and OEICs - see post 2 for more details. They pay interest of 0%, 0.05% and 0.1% p.a. (tiered balances) on uninvested cash.
MSE Forum User Opinions / Experiences: Thread 1[FONT=Times Newbr / Roman], 2
[/FONT][FONT=Times Newbr / Roman]TD Direct Investing
Annual Fee: None if you have a balance of £5,100 on the last business day of May or if you have a regular investment ISA (otherwise an annual fee of £30 + VAT applies)
[/FONT][FONT=Times Newbr / Roman]Planned Purchase Fee: £1.50 per purchase[/FONT] (available for FTSE 350 shares and ETFs)
Real Time Purchase or Sale Fee:
Online transactions: £12.50 (£8.95 when you trade 10 or more times per month across the last 3 consecutive months, £5.95 when you trade 20 or times per month across the last 3 consecutive months).
Telephone transactions: The online rate plus an additional £40
Domestic Trading: UK shares, gilts, corporate bonds, building society permanent interest bearing shares, ETFs, investment trusts
Unit trusts do not incur a commission charge from TD Waterhouse but there may be an initial charge from the fund manager; there is no rebate of any trail commission
[FONT=Times Newbr / Roman]Overseas Trading:[/FONT] Can trade directly on 17 international stock exchanges, trading fees UK trading cost plus £5, FX fee of 2% for transactions under £25,000 (lower charges on larger amounts, see website for more details). TD Waterhouse's non-ISA accounts can hold 9 major currencies in a multi-currency Cash Management Account but this facility is unavailable in the ISA due to HMRC regulations.
Dividend Reinvestment: £1.50 (will only be reinvested if the dividend has a value of £10 or more)
[FONT=Times Newbr / Roman]Corporate Actions: Up to £5 charge if there is a fractional entitlement arising from a corporate action[/FONT]
Closure Fee: £50 + VAT + an admin fee (up to £5)
Transfer Out: £50 + VAT + an admin fee (up to £5)
Transfer out of stock: £35 per holding but stock withdrawal per holding charge does not apply for account transfer out and closures
Other: Other charges here. Also possible to trade unit trusts and OEICs - see post 2 for more details. You can sign up to the "Shareholder Voting and Information" service which allows you to receive information and vote on decisions on UK shares held in your nominee account.
MSE Forum User Opinions / Experiences: Threads 1, 2, 3, 4
Higher Dealing Charges, No Annual Fee
Beaufort Securities
Same fees as Traders Own (see below).
NatWest Stock Brokers
This is a white label service of TD Waterhouse. For ISA accounts, NatWest charges the same or more than TD Waterhouse in all respects so you would be better off looking at the TD Waterhouse entry above.
[FONT=Times Newbr / Roman]
[/FONT]SimplyStockbroking
Same fees as Traders Own (see below).
[FONT=Times Newbr / Roman]Traders Own
Annual Fee: None (but see the dividend processing fee below)
[/FONT][FONT=Times Newbr / Roman]Planned Purchase Fee: Not available[/FONT]
Real Time Purchase or Sale Fee: £8 per transaction (online or telephone)
Domestic Trading:UK shares, gilts, corporate bonds, building society permanent interest bearing shares, ETFs, ETCs, investment trusts, unit trusts and OEICs, covered warrants / listed structured products
[FONT=Times Newbr / Roman]Overseas Trading: [/FONT]Not available
Dividend Reinvestment: Not available
[FONT=Times Newbr / Roman]Corporate Actions: [/FONT]10% of value (minimum 25p, maximum £1)
Closure Fee: None
Transfer Out: £16 per line of stock
Other: They charge a dividend processing fee of 10% of the dividend value (minimum 25p, maximum £1)
MSE Forum User Opinions / Experiences: -
[FONT=Times Newbr / Roman]Other: You get a free "equity unit" with each transaction. These can be converted into B shares in Traders Own. See the Traders Own website for more details.[/FONT]
0 -
3. Cheapest Stocks & Shares ISA for Corporate Bonds, Exchange Traded Funds, Gilts, Investment Trusts and Shares, continued...
Annual Fee
Alliance Trust
Annual Fee: £75 + VAT per year, there is a Loyalty Discount on dealing charges if you have been a customer for more than 5 years, prices guaranteed until 2016
Planned Purchase Fee: £1.50[FONT=Times Newbr / Roman]
Real Time Purchase or Sale Fee:
Online transactions: £12.50
Telephone or postal transactions: £40
Domestic Trading: [/FONT][FONT=Times Newbr / Roman]UK shares, corporate bonds, gilts, investment trusts, unit trusts and OEICs, [/FONT][FONT=Times Newbr / Roman]and ETFs (although not mentioned on the ISA page, they appear on the Alliance Trust's list of ISA-eligible stocks and shares by clicking on the link on the right hand side of this page); this transaction fee is reduced if you hold a significant number of Alliance Trust shares (see their website for further details)[/FONT][FONT=Times Newbr / Roman]
[/FONT][FONT=Times Newbr / Roman]Overseas Trading: [/FONT][FONT=Times Newbr / Roman]£40 per transaction, FX charge of 1.3%, six monthly custody charge of 0.05% (applied to the value of your international investment holdings on 30th June and 31st December)[/FONT]
[FONT=Times Newbr / Roman] Dividend Reinvestment: £5 (once your dividends reach a pre-specified amount - you can choose from the following limits: £100, £150, £300, £500)
[/FONT][FONT=Times Newbr / Roman]Corporate Actions: Bonus / Scrip issue - free
Rights issues, offers, new issues taken up - £30
Cash realised from takeovers, redemptions, conversions, reconstructions, liquidations and capital payments - £30
Conditional acceptance or withdrawal of acceptance for a takeover - £30 + VAT
Voting and attendance service (per meeting) - £30 + VAT
Report and accounts service, per investment, per report - £10 + VAT[/FONT][FONT=Times Newbr / Roman]
Closure Fee: £50 + VAT
[/FONT][FONT=Times Newbr / Roman]Transfer Out: £50 + VAT + sale / investment transfer charges
Other: Cash withdrawal fee £10.[/FONT]
Clubfinance (Frequent Trader)
Annual Fee: 0.24% per annum, minimum £120 per year
Planned Purchase Fee: Not available[FONT=Times Newbr / Roman]
Real Time Purchase or Sale Fee:
Online transactions: £2.50 (£1 if your portfolio is £250,000-£500,000, 50p if portfolio >£500,000)
Telephone transactions: £25
Domestic Trading: [FONT=Times Newbr / Roman]UK shares available online; warrants, synthetic ETFs and and listed structured products available via their premium service by telephone[/FONT][FONT=Times Newbr / Roman]
[/FONT][FONT=Times Newbr / Roman]Overseas Trading:[/FONT] [FONT=Times Newbr / Roman]Europe and US stocks (extra £25 per trade), US stock annual administration fee of £100 per annum, Canadian stocks (extra £50 per trade), Australian stocks (extra £60 per trade), Far Eastern stocks (price on application)[/FONT]
[FONT=Times Newbr / Roman] Dividend Reinvestment: Not available
[/FONT][FONT=Times Newbr / Roman]Corporate Actions: No charges[/FONT]
[FONT=Times Newbr / Roman] Closure Fee: None
[/FONT][FONT=Times Newbr / Roman]Transfer Out: £10 per stock[/FONT]
[/FONT]Hargreaves Lansdown
Annual Fee: Funds (0.45% on up to £250,000, 0.25% on £250,000 to £1 million, 0.1% on £1 million to £2 million, no fee over £2 million), 0.45% on shares, investment trusts, ETFs, gilts and bonds, capped at £45
Planned Purchase Fee: £1.50 for FTSE 350 shares and selected investment trusts - see this thread[FONT=Times Newbr / Roman]
Real Time Purchase or Sale Fee:
Online transactions: £11.95 if 0-9 deals in the previous month, £8.95 for 10-19 deals in the previous month, £5.95 if 20 or more deals in the previous month
Telephone or postal transactions: 1%, min £20, max £50
Domestic Trading: [FONT=Times Newbr / Roman]UK shares, corporate bonds, gilts, investment trusts, unit trusts and OEICs, [/FONT][FONT=Times Newbr / Roman]and ETFs[/FONT][FONT=Times Newbr / Roman]
[/FONT][FONT=Times Newbr / Roman]Overseas Trading: [/FONT][FONT=Times Newbr / Roman]same charges as above, FX charge of 0.35% to 1.7%[/FONT]
[FONT=Times Newbr / Roman] Dividend Reinvestment: [/FONT][/FONT][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman]1% (min £20, max £50) once £200 accumulated, changing from 2nd June 2014 to 1% (min £1, max £10) once £10 accumulated, which represents a 10% charge if only £10 is reinvested [/FONT][FONT=Times Newbr / Roman]
Corporate Actions: Free[/FONT][FONT=Times Newbr / Roman]
Closure Fee: £25 + VAT
[/FONT][FONT=Times Newbr / Roman]Transfer Out: £25 per stock, £25 flat fee if cash transfer
Other: Cash withdrawal by CHAPS £25 (free by BACS, Faster Payment or cheque)[/FONT]
iDealing.com
[/FONT]Annual Fee: £20
Planned Purchase Fee: Not available[FONT=Times Newbr / Roman]
Real Time Purchase or Sale Fee:
Online transactions: £9.90
Telephone transactions: £9.90
Domestic Trading: [/FONT][FONT=Times Newbr / Roman]UK shares (including investment trusts), ETFs, gilts, index-linked gilts, corporate bonds, PIBS, warrants[/FONT][FONT=Times Newbr / Roman]
[/FONT][FONT=Times Newbr / Roman]Overseas Trading:[/FONT] [FONT=Times Newbr / Roman]Can trade directly on Euronext Paris and Chi-X Europe often for the same fee as UK transactions but sometimes it is more costly - you can check for the individual share or bond you are interested in using their commission schedule page[/FONT][FONT=Times Newbr / Roman]; FX charges not stated[/FONT]
[FONT=Times Newbr / Roman] Dividend Reinvestment: Not available
[/FONT][FONT=Times Newbr / Roman]Corporate Actions: No charges[/FONT]
[FONT=Times Newbr / Roman] Closure Fee: £60
[/FONT][FONT=Times Newbr / Roman]Transfer Out: £15 per stock[/FONT]
iii
Annual Fee: £20 per quarter (£80 per year) but [FONT=Times Newbr / Roman]you get a rebate of £20 per quarter on charges for real-time dealing or regular investment transactions and accounts of family members can be linked so that they only pay one £20 charge per quarter per family and some new customers are exempt[/FONT]
Planned Purchase Fee: £1.50 per purchase (only available for [FONT=Timesbr / New Roman]UK shares, ETFs traded in sterling, and [/FONT][FONT=Times Newbr / Roman]investment trusts)
Real Time Purchase or Sale Fee:
Online transactions: £10 for first ten transactions per month, then £5 per transaction
Telephone transactions: £10
Domestic Trading: [/FONT][FONT=Times Newbr / Roman]UK shares (including investment trusts), ETFs[/FONT][FONT=Times Newbr / Roman]; can invest in unit trusts or OEICs with 100% initial commission discount and trail commission rebate
[/FONT][FONT=Times Newbr / Roman]Overseas Trading:[/FONT] [FONT=Times Newbr / Roman]£10 per transaction for European or US shares, FX charges not stated[/FONT]
[FONT=Times Newbr / Roman] Dividend Reinvestment: 1% (capped at £10)
[/FONT][FONT=Times Newbr / Roman]Corporate Actions: No charges[/FONT]
[FONT=Times Newbr / Roman] Closure Fee: None
Transfer Out: £15 per stock (but they will waive this for up to 10 lines of stock for accounts open less than 1 year)
Other: Other charges here.
[/FONT]
Saxo
Annual Fee: £35 + VAT
Planned Purchase Fee: Not available[FONT=Times Newbr / Roman]
Real Time Purchase or Sale Fee:
Online transactions: 0.1%, min £8
Telephone transactions: not specified
Domestic Trading: [FONT=Times Newbr / Roman]UK shares (including investment trusts), ETFs[/FONT][FONT=Times Newbr / Roman]
[/FONT][FONT=Times Newbr / Roman]Overseas Trading:[/FONT] [FONT=Times Newbr / Roman]Different fees for each exchange, really large choice of exchanges to trade on, for some exchanges they charge a fee per share which makes trading cheap shares uneconomical, FX charges 0.5%[/FONT][/FONT]
[FONT=Times Newbr / Roman] Dividend Reinvestment: Not available
[/FONT][FONT=Times Newbr / Roman]Corporate Actions: Not specified[/FONT]
[FONT=Times Newbr / Roman] Closure Fee: None
Transfer Out: [/FONT][FONT=Times Newbr / Roman][FONT=Times Newbr / Roman]€50 per share, maximum charge €160 [/FONT][/FONT]
0 -
Many thanks. I'm wondering about transferring an S&S Isa to get lower dealing costs, so I'd be delighted to know whether any of them have a transferring-in fee or even a transferring-in incentive payment.Free the dunston one next time too.0
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Many thanks. I'm wondering about transferring an S&S Isa to get lower dealing costs, so I'd be delighted to know whether any of them have a transferring-in fee or even a transferring-in incentive payment.
HL usually give you £50 if you recommend a friend or something, a lot of people here use them as well.0 -
Thank you, Special_Saver. I've been shopping around for an S&S ISA recently and your list has saved me a lot of time and effort. The III ISA sounds the most appealing to me.
I also emailed SVS the other day regarding S&S ISAs and they said they did not have a final date for the ISA, but were aiming for the beginning of the new year. So, keep an eye out for that.0 -
Maybe add HSBC Investdirect to your category 2?0
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Special_Saver2 wrote: »If people find this list useful then I could develop this a bit and bump it to the top of the forum in March each year (before people decide on their S&S ISA provider for the next tax year).
Great idea! Could something similar be done for SIPPs in this forum or in the pensions one?0 -
First off: FANTASTIC effort! Really simplifies things for me, or indeed anyone looking to open/switch an Investment ISA. Do you think you could add star ratings for "trustworthiness" or something like that? If available, of course! It'd be really good to get that kind of input, too. But as I said, this is great and it really helps!0
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Think this thread is a great idea.
I opened an ISA account with x-o as tempted by their low real time dealing fees of only £5.95. Although the fees are indeed cheap, I'm disappointed with their interface. It is really bare bones. Portfolio valuation is hard to read as the figures from one column run into the next. Also, the share prices outside Market hours are incorrect. My capd shares were showing at 82p which nearly gave me a panic attack until i checked on advfn to discover the market close was really 102p. Seems that the x-o site cant cope with share prices when lse is closed So you can't check valuation of your portfolio in the evenings. I think I was naively expecting their interface to be like the excellent iii one.
Aspiration - you might want to look at sippdeal (run by AJ Bell) as they now do the very low cost vanguard tracker funds. They arent shown on their funds list (because you buy them like shares with a dealing fee of £9.99 per trade).
Only disadvantage I've found is that when I recently opened sipp account with £4000 deposit, they emailed to say that the additional £1000 tax credit will not be credited to the account until 23 May. Which means that I have to decide whether to wait until May to invest the whole £5000 in one go (with the £4000 earning paltry interest rate in their cash account in meantime). Or invest £4000 now and then £1000 in May & pay 2 lots of dealing fees.
These accounts all seem more complicated than at first sight - or at least the ones I've tried!0
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