Stock broker for self select ISA

kph100

Hi all,

I am looking to invest in shares, via a self select ISA.

A few questions.

1/ Ive put in £3600 into a cash ISA this year so I think im right to say only £3600 can be put in the shares ISA this year.

2/ Ive used Halifax sharebuilder for small purchases before, but now want to upgrade to a better place as halifax sharedeling seems slow.
Would like to include, speads in future.
Who would you suggest for good service and costs ???

3/ What happens to monies at a stockbrokers if they go bust.
What if any protection is there ??

Thanks Ian.

Lokolo

1) Yes

2) Not sure but I doubt Halifax is a lot slower than other stockbrokers

3) Theres an investment protection scheme but I would say as the shares are in your name I don't get why the stockbroker going bust would mean for you? You would still have the shares.

kph100

As they are mostly nominee accounts, how does that work when shares are held by stockbroker on my behalf , or have i got this wrong ?

debbie42

Selftrade are often recommended: if you do a search with that name on this forum you'll get some more info.

The normal ISA account at Selftrade works on a nominee account (as does the Halifax). The protection behind this have been covered on this thread.

philng

Some people have had some problems with selftrade recently-you pay £6.25 per quarter admin fee for the Isa but iii has no admin fee-I am considering switching to avoid the fee but does anyone know what they are like?

kph100

Thanks for the thread Debbie

lowbrim

I also go with TD Waterhouse you can trade in sharesworldwide via internet and also fees are very competitive