Halifax Share Dealing - best flat fee provider?

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Audaxer
Audaxer Posts: 3,508 Forumite
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in Savings & investments
Looking at comparison tables and Snowman’s spreadsheet, Halifax Share Dealing with a flat admin fee of only £12.50 per annum is by far the cheapest platform for me when compared to most others. As I am starting with a large investment, including an ISA transfer, into one fund (probably a VLS40) with very few other annual trades planned, it seemed a no-brainer to go with Halifax in my situation.

However I’ve now read some reviews saying their service was poor and some reviewers experienced problems that Halifax were slow to sort out or couldn’t fix. The reviews were from about 4 or 5 years ago, so not sure if any problems have now been ironed out? I’d be interested to hear views from anyone who currently uses them.

If I don’t go for Halifax, what other brokers with a flat platform fee would you recommend – it doesn’t have to be the cheapest but not keen to pay for a percentage fee provider. I’m looking for a reliable provider (preferably not just web-only) with very good customer service, should any problems occur.
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  • jdw2000
    jdw2000 Posts: 418 Forumite
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    I've been with them for a couple of months or so. Their customer services are good. And their website is nice.

    No complaints so far.
  • dales1
    dales1 Posts: 230 Forumite
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    2 isa transfers in, and divis reinvested, in last 9 months -- no problems at all.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    They've been fine for me, occasional trades, transferred soem cash isas in over the last few months and all has gone well.

    iWeb are basically the same white label operation as an alternative and have now reduced their opening fee and trades are cheaper.
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    I've been using Iweb (trading name of Halifax) for a couple of years with no problems. They have zero annual fee, but an opening fee equivalent to two years at Halifax. Their transaction fee is lower than Halifax's normal fee, but higher than their regular investment fee.
    Eco Miser
    Saving money for well over half a century
  • BLB53
    BLB53 Posts: 1,583 Forumite
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    I have had my VLS fund with them for 2 yrs and no problems. Also they were behind the interactive investor platform before ii went on their own in 2012 and I had been with the ii site for many years, again with no problems until they left Halifax.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Audaxer wrote: »
    Looking at comparison tables and Snowman’s spreadsheet, Halifax Share Dealing with a flat admin fee of only £12.50 per annum is by far the cheapest platform for me when compared to most others.
    I use IWeb which seems to be spin off from Halifax. There's a £25 start-up cost, £5 fixed dealing charge and no annual charge. I've encountered a few hiccups which they've resolved and my £25 up front cost was quickly covered by the savings over a number of £5 deals.
  • longleggedhair
    longleggedhair Posts: 462 Forumite
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    I've used them for ten years, good value and service. Recommend.
  • Rollinghome
    Rollinghome Posts: 2,676 Forumite
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    I use IWeb and by and large it's fine compared with several platforms I've used. It's basic but seems to work well enough. To be nit-picking I've sometimes been surprised they don't offer some fairly mainstream funds and ETFs though I'm told others have persuaded them to add the funds they want.

    I'm not aware of any real difference between the Halifax, BOS, or IWeb offerings. If so, would think IWeb the best bet for most people now that they've lowered the previous £200 initial fee to £25. Just 4 trades a year over two years would cost £125 on Halifax or £65 on IWeb.
  • green_man
    green_man Posts: 531 Forumite
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    I've been using Halifax S&S ISA products for 20 years or so, no major issues at all. I don't think some of their subsystems are as slick as say H&L, but I've had no issues. There were a couple of funds I fancied that they didn't host but other than that, if you have high value and won't be very active they are the best bet IMO.
  • moneyfoolish
    moneyfoolish Posts: 681 Forumite
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    Presumably if you transfer £15000 in from a cash ISA and hold as cash (can you do this?) and then make 12 monthly fund purchases with that £15000 that is much more expensive than just making one fund purchase with the £15000?
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