Halifax Share Dealing - best flat fee provider?
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greenglide wrote: »Of course you can use TD Direct which is free for shares (including ITs and ETFs) for amounts of £5,100 and above in an ISA.
Youinvest charges for shares in an ISA is 0.25% which is capped at £7.50 per quarter which is £30 per year.
Both are less than HL and their charges are calculated over the whole platform holding rather than on the individual type (ISA, unwrapped etc) that HL use.
Ive looked very much into youInvest, but unfortunately I wouldnt be able to automatically reinvest dividends for a lot of my holdings which would cost loads.
With regard to TD Direct, is the dividend reinvestment a fixed fee of £1.50? Also, is there a specific list of stocks that are eligible for automtic dividend reinvestment?"If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2021 - #027 £15,268 (76%)0 -
Dividend reinvestment for shares is a right pain (IMHO) because of the costs unless a truly staggering amount is held in each investment. This is made worse by the holding with an intention of capital appreciation where the dividends may be relatively small. Automatic reinvestment of a dividend of say, £35, which a charge of say, £1.50 is far from ideal.
Since these small amounts would not be significant in how they are invested what I do is each month I use the regular investment facility to invest all the months dividends into a single fund - not always the same one.
A £1.50 fee to reinvest an amount of £150 or so each month is acceptable (to me) but does require changing the regular invesment details every month.
I thought that both youinvest and TD did reinvestment for virtually all their ITs and shares and it was their regular investments that were limited to a selection?0 -
greenglide wrote: »Dividend reinvestment for shares is a right pain (IMHO) because of the costs unless a truly staggering amount is held in each investment. This is made worse by the holding with an intention of capital appreciation where the dividends may be relatively small. Automatic reinvestment of a dividend of say, £35, which a charge of say, £1.50 is far from ideal.
Since these small amounts would not be significant in how they are invested what I do is each month I use the regular investment facility to invest all the months dividends into a single fund - not always the same one.
A £1.50 fee to reinvest an amount of £150 or so each month is acceptable (to me) but does require changing the regular invesment details every month.
I thought that both youinvest and TD did reinvestment for virtually all their ITs and shares and it was their regular investments that were limited to a selection?
I appreciate the reply, I have sent an email to YouInvest to confirm. It seems YouInvest are a better option for me to potentially transfer to because they will reimburse up to £500 of any transfer costs, it seems TD dont have a transfer in offer available currently.
I have an AIM share which produces a healthy dividend. YouInvest have previously stated that it isnt included in the regular investment service because it is listed on AIM (and therefore thinly traded I assume). So I will check if this is still the case and also check if it is eligible for the dividend reinvestment service."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2021 - #027 £15,268 (76%)0 -
From the Youinvest web site (the page that actually sets up the automatic reinvestment):-
TD seems to offer less:-Eligible dividends are those paid by UK listed shares, investment trusts and ETFs only, our service does not allow you to reinvest dividends for international shares, bonds or funds.
So I could not automatically reinvest PEY dividends if I wanted to on TD but I could with Youinvest (I hold PEY on both platforms).Dividend reinvestment is available for popular shares (including the FTSE 350) and a range of Investment Trusts and ETFs.
The Dividend must be paid onto your account in sterling for it to be reinvested.0
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