Need help finding a decent online broker service

theAnarchist

Hi I would like to find a decent online broker. One which doesnt have an account management fee.

I need access to some international exchanges. Pref TSX,NYSE, and our LSE.

So far I,m only managed to find TD Waterhouse.

I,m looking at possible mid to long term holdings i.e 6 months and longer. And buying upto maybe three to four times a year.

The annoying part is that Waterhouse charge £10 + VAT per qtr for idle accounts that have had no trading.

What can I do.

Thanks

marvin

theAnarchist wrote: »

Hi I would like to find a decent online broker. One which doesnt have an account management fee.

I need access to some international exchanges. Pref TSX,NYSE, and our LSE.

So far I,m only managed to find TD Waterhouse.

I,m looking at possible mid to long term holdings i.e 6 months and longer. And buying upto maybe three to four times a year.

The annoying part is that Waterhouse charge £10 + VAT per qtr for idle accounts that have had no trading.

What can I do.

Thanks

You don't say if it is execution only you want but as you want it without a fee then I guess it is.

Most, if not all, of the online brokers or share dealing services (execution only) will fit the bill, Halifax, iii, Barclays, Lloyds etc etc.

I can certainly trade on the NYSE (I never have but in order to find out how much 1 share in berkshire hathaway would cost me live had to sign-up) with Halifax (I only chose halifax as it was easy as my company's share purchase plans went through them I neither recommend or endorse them it is just the one I use and for the amount of trading I do then moving makes little sense).

Halifax at times have trading deals, the last one was UK shares for reduced fee of £3. They sometimes have weeks when you can trade on certain foreign markets without a fee, as they do for a couple of hours twice a year or so on the UK market.

MarkFromCornwall

theAnarchist wrote: »

Hi I would like to find a decent online broker. One which doesnt have an account management fee.


Thanks

I'm pleased with Motley Fool. It covers LSE, NYSE and Europe but I don't think it does TSX. There are no management fees, inactivity fees etc. - you only pay for trades.

theAnarchist

marvin wrote: »

You don't say if it is execution only you want but as you want it without a fee then I guess it is.

Most, if not all, of the online brokers or share dealing services (execution only) will fit the bill, Halifax, iii, Barclays, Lloyds etc etc.

I can certainly trade on the NYSE (I never have but in order to find out how much 1 share in berkshire hathaway would cost me live had to sign-up) with Halifax (I only chose halifax as it was easy as my company's share purchase plans went through them I neither recommend or endorse them it is just the one I use and for the amount of trading I do then moving makes little sense).

Halifax at times have trading deals, the last one was UK shares for reduced fee of £3. They sometimes have weeks when you can trade on certain foreign markets without a fee, as they do for a couple of hours twice a year or so on the UK market.

I want execution only. I dont want anyone to manage or advise me on the share dealings.

theAnarchist

MarkFromMullion wrote: »

I'm pleased with Motley Fool. It covers LSE, NYSE and Europe but I don't think it does TSX. There are no management fees, inactivity fees etc. - you only pay for trades.

I looked at Motley. It says their service is provided by Halifax.

marvin

Just looked at the markets Halifax trade on and it is short I could have swarn it was more!
Basicly US, UK , Spain, Germany and Holland.

Darth_chaffinch

Have a look at X-O.co.uk

marvin

Darth_chaffinch wrote: »

Have a look at X-O.co.uk

X-O only trade UK shares

theAnarchist

marvin wrote: »

X-O only trade UK shares

Thanks.

There must be some brokers that have a decent international exposure.

I want to invest in US/Canadian mining companies and most of them are on the NYSE, or TSX.

partyprincess

TD waterhouse only charge the £10 fee if your total balance is less than £5000.

JamesU

theAnarchist wrote: »

There must be some brokers that have a decent international exposure.
I want to invest in US/Canadian mining companies and most of them are on the NYSE, or TSX.

i-Dealing are pretty good.

ISA or standard account (AIM) annual charge of £20/yr. No inactivity fees. Cash held on account as required. All US/EU/UK trades at £9.90/trade + stamp duty. Buy/Stop and buy limit/sell limit orders are £2 extra.

NYSE online trading 2:45 - 4:30 only though, unless contigent order in place. In EU some variation on country trading times (e.g. Holland, Sweden, Switzerland). Aswell as shares, good range of etfs including multiple leveraged and inverse, bonds, gilts, linkers, pref shares etc.

i-Dealing cheaper than TD on international dealing costs, also telephone orders cost the same as online trades whereas at TD, much more expensive for this. One thing to bear in mind if trading NYSE where dividends are an issue, TD supports W-8BEN whereas i-Dealing is not geared up for this at present to reduce withholding tax. Also TD do Australia/Hong Kong/Singapore whereas i-Dealing do not. But if you want this level of world coverage and trading various markets in real time you have to pay more for this anyway and I guess it would be worth looking at interactive brokers also.

I rarely look at US/Can individual shares, but just checked and NYSE/TSX seems fine for the usual suspects. If you want, you can throw across a wish list and I can check if they are available.


JamesU