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  • FIRST POST
    • joeypesci
    • By joeypesci 11th Sep 17, 4:09 PM
    • 379Posts
    • 120Thanks
    joeypesci
    Trading without an account
    • #1
    • 11th Sep 17, 4:09 PM
    Trading without an account 11th Sep 17 at 4:09 PM
    So I used to have an account with Stocktrade.co.uk but as I hardly trade, the charges for having an account killed my profits so I closed it.

    Is there anyone who still allows you to just call up and make a trade? They then send you the certificate which you have to keep safe? I used to do this with Nationwide's service until they forced everyone to have an account.

    I think when I closed my Stocktrade account they said I could do this but not sure. Tried to call them to make a trade today but all their agents were busy.
Page 1
    • msallen
    • By msallen 11th Sep 17, 4:13 PM
    • 526 Posts
    • 439 Thanks
    msallen
    • #2
    • 11th Sep 17, 4:13 PM
    • #2
    • 11th Sep 17, 4:13 PM
    Try x-o.co.uk. No membership fee and cheap to trade (£6.95 from memory). You won't get a paper certificate, but then who does nowadays.
    • joeypesci
    • By joeypesci 11th Sep 17, 4:35 PM
    • 379 Posts
    • 120 Thanks
    joeypesci
    • #3
    • 11th Sep 17, 4:35 PM
    • #3
    • 11th Sep 17, 4:35 PM
    Try x-o.co.uk. No membership fee and cheap to trade (£6.95 from memory). You won't get a paper certificate, but then who does nowadays.
    Originally posted by msallen
    So is that a call up and trade service? If so surely you'd get sent paper certificates otherwises who holds the certificates for you? That was the problem with stocktrade. Because they held everything they asked for their "admin fee".

    I still have paper certificates for BP and Barclays. And that was from only a few years ago when Nationwide allowed the call up and trade without an account service.
    • JohnRo
    • By JohnRo 11th Sep 17, 4:42 PM
    • 2,424 Posts
    • 2,178 Thanks
    JohnRo
    • #4
    • 11th Sep 17, 4:42 PM
    • #4
    • 11th Sep 17, 4:42 PM
    Why not just open an online nominee account with a broker that doesn't charge any ongoing administration or inactivity fees?

    http://monevator.com/compare-uk-cheapest-online-brokers/
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • Glen Clark
    • By Glen Clark 11th Sep 17, 4:43 PM
    • 3,824 Posts
    • 2,793 Thanks
    Glen Clark
    • #5
    • 11th Sep 17, 4:43 PM
    • #5
    • 11th Sep 17, 4:43 PM
    Try x-o.co.uk. No membership fee and cheap to trade (£6.95 from memory). You won't get a paper certificate, but then who does nowadays.
    Originally posted by msallen
    x-o will send you a paper certificate for £15
    You can pay the money in by debit card immediately to trade.
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
    • frugalmacdugal
    • By frugalmacdugal 11th Sep 17, 4:44 PM
    • 6,083 Posts
    • 5,231 Thanks
    frugalmacdugal
    • #6
    • 11th Sep 17, 4:44 PM
    • #6
    • 11th Sep 17, 4:44 PM
    Hi,

    I still have paper certificates for BP and Barclays. And that was from only a few years ago when Nationwide allowed the call up and trade without an account service.
    Originally posted by joeypesci
    are you sure they are share certificates and not just contract notes?
    Y'all take care now.
    • Glen Clark
    • By Glen Clark 11th Sep 17, 4:55 PM
    • 3,824 Posts
    • 2,793 Thanks
    Glen Clark
    • #7
    • 11th Sep 17, 4:55 PM
    • #7
    • 11th Sep 17, 4:55 PM
    Have you seen the comparison page on this website: http://www.moneysavingexpert.com/savings/cheap-online-sharedealing
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
    • grey gym sock
    • By grey gym sock 11th Sep 17, 8:40 PM
    • 4,097 Posts
    • 3,570 Thanks
    grey gym sock
    • #8
    • 11th Sep 17, 8:40 PM
    • #8
    • 11th Sep 17, 8:40 PM
    there are still are few certificated dealing services available, e.g. sharedeal active have 1.

    however, online trading in a nominee account is cheaper, and there are quite a few providers with no account charges for a taxable account (i.e. it can be different for ISA or SIPP) when you don't trade, e.g.:

    - bank of scotland share dealing
    - equiniti (shareview) investment account
    - halifax share dealing
    - hargreaves lansdown
    - idealing (no fee if you opt for the "admin free" tariff, which has slightly higher dealing fees)
    - iweb (except that there is now a fee of £25 to open your first non-SIPP account with iweb)
    - saga share direct (only available to over 50s)
    - shareprice.co.uk
    - svs xo
    - x-o.co.uk

    (however, some of the above do have account closure fees.)
    • IanSt
    • By IanSt 12th Sep 17, 11:06 AM
    • 44 Posts
    • 16 Thanks
    IanSt
    • #9
    • 12th Sep 17, 11:06 AM
    • #9
    • 12th Sep 17, 11:06 AM
    If I may ask, what is the reason you want to have paper certificates?

    If it's because you don't want to have the ongoing charges that stocktrade charges, rather than a need to have them in paper, then I'd definitely recommend going for one of the many zero annual-charge outfits. I use x-o myself ànd would have no hesitation in recommending them.
    • joeypesci
    • By joeypesci 12th Sep 17, 1:09 PM
    • 379 Posts
    • 120 Thanks
    joeypesci
    Hi,



    are you sure they are share certificates and not just contract notes?
    Originally posted by frugalmacdugal
    It says they are certificates on the front of them.
    • joeypesci
    • By joeypesci 12th Sep 17, 1:18 PM
    • 379 Posts
    • 120 Thanks
    joeypesci
    If I may ask, what is the reason you want to have paper certificates?

    If it's because you don't want to have the ongoing charges that stocktrade charges, rather than a need to have them in paper, then I'd definitely recommend going for one of the many zero annual-charge outfits. I use x-o myself ànd would have no hesitation in recommending them.
    Originally posted by IanSt
    The only reason I wanted paper certificates is I don't know how the process works. I don't trade much and when I originally started a few years back I could call Nationwides offering and make a trade. A few days later they send the certificate. When I'd want to sell I'd have to send that off to whoever I sell with. This just allowed me to not have any monthly fees.

    Then eventually they forced you to have an account to make any trades. They then sold to another outfit who started charging a fee every 3 months I think it was. Their "admin" fee. I then realised all the trades I'd made that year (of which there were hardly any), all the small profits I'd made were eaten up by the "admin" fee. So I closed the account.

    I just assumed if you wanted an account with no fees, then you had to be the one that held the ceriticates. If not, whoever you create an account with would then charge you a fee for holding those certificates for you. But I guess I'm wrong about that then?

    I've heard of XO before so might go with them. So you actually have an online trading account with them so can trade online without having to call? And there are no admin fees for having the account?
    • msallen
    • By msallen 12th Sep 17, 1:23 PM
    • 526 Posts
    • 439 Thanks
    msallen
    I've heard of XO before so might go with them. So you actually have an online trading account with them so can trade online without having to call? And there are no admin fees for having the account?
    Originally posted by joeypesci
    Correct. X-O stands for eXecution Only, and thats what they are - Simple bare bones basic service which allows you to perform trades for minimal cost. I tend to use funds so don't have the need of this type of service very often, but I use X-O when I do.
    • IanSt
    • By IanSt 12th Sep 17, 5:07 PM
    • 44 Posts
    • 16 Thanks
    IanSt
    Yes I do use them. Looks to be in the same way that msallen uses them.

    There is an ISA closing fee (see http://www.x-o.co.uk/our_charges.htm) which they can also enforce if you try to run down the account without actually closing it. But if you are a long term investor (which you should be if you are investing in stocks etc) then that won't be an issue.
    • joeypesci
    • By joeypesci 13th Sep 17, 10:48 AM
    • 379 Posts
    • 120 Thanks
    joeypesci
    Thanks all. Have now opened a nominee account on x.o
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