low cost share execution service suggestion please

sabretoothtigger

Maybe they loan shares out. It could be they handle trades anyway, retailing spare capacity increases efficiency and profitability to their existing business.
The spread cost counts for quite alot, they might charge 5 in fees and give a poor price

IronWolf

I have a SaxoBank trading account. It's 0.1% commission (min of £8) per UK share, varies for overseas shares, but they have a much larger offering of international markets, forex and CFDs.

I use iii.co.uk and they are ok but I would not recommend them for dealing with overseas shares, their platform isn't good enough.

IronWolf

cimh wrote: »

I use HL for my share ISA in which I hold funds and investment trusts. They are rock solid and I have no complaints.

For shares over and above my isa allocation I have used both x-o and svssecurities for two years. They are both easy to use and cheaper than HL. Again I have no complaints but then I am very much an amateur. neither charge a platform fee or charge for dividend dividend payouts.

I have just spotted sharedealactive is also run by Jarvis - the same people who run x-o but its more expensive at £9.50 a deal. The Jarvis parent site suggests that the second one also allows international dealing and phone dealing for the same price. So I guess x-o is cheaper provided you are content to limit yourself to UK stock?

My other reason for running hl, x-0, and svs is because since the last crash I'm paranoid about not having too much holed up in one organisation - I think 48K is the max covered by the FSCS.

cimh

I took a look at ShareDeal and found some charges to beware of

Cash withdrawal fee (nominee account only) £15.00 per occasion
Late Payment Administration Charge £20.00
Account Transfer / Closure £50.00
Minimum custodial fee of £3 per month per foreign share

wolfma

sabretoothtigger wrote: »

Maybe they loan shares out. It could be they handle trades anyway, retailing spare capacity increases efficiency and profitability to their existing business.
The spread cost counts for quite alot, they might charge 5 in fees and give a poor price

I was thinking along similar lines. They must of found some new way to squeeze some more pennies out of their customers!!
I might just open up a trading account just to see if their quotes are as competitve as before.