Low cost Stocks & Shares (Investment) ISAs: The Best Currently Available List!

donniej

grey_gym_sock wrote: »

i'd agree saxo bank would add something to this thread's guide. it's pretty thorough about both funds and shares.

Saxo are closing down their Modern Wealth Management offering as of April 30th. They are keeping their Saxo Trader platform, but that won't be offering any funds (just shares + ETFs.)

https://web.modernwealthmanagement.co.uk/saxo/enu/start.swe?SWECmd=GotoView&SWEView=BEST+Login+View

IronWolf

Special_Saver2 wrote: »

Thanks, I have updated the entry on rplan with the new, lower £5 per month cap.

As for Saxo Bank, I have looked at them before but they did not have an ISA account (and still do not, as far as I can see). This thread is just about stocks and shares ISA accounts.

For accounts that are good for international share dealing, have a look at the International Investor site links that I have put in the first post of this thread.

SS2

In the last couple of days they webpage appears to have disappeared that had the ISA on it!

They mentioned moving the platform over to their Saxo trading platform as it was a separate thing before, maybe that's something to do with it.

I'll probably call them in the next few days about it if it doesn't appear, I was planning on moving to it next year, hope it's still available

IronWolf

Saxo were relaunching the ISA, it's now on their website.

£35 annual fee
0.5% FX charges introduced
Transfer out fees are very high, but capped at €160
Also to be careful that on some exchanges they charge a flat cost per share dealing charge (e.g. $0.02 per share in US), which means buying cheap shares is uneconomical.

They do have a wide range of markets to invest in though, probably the widest available. I was also told they would soon start accepting W8-BEN forms

louiseadav

Hi, I currently have an Invesco Perpetual S&S ISA with most of my savings in the Invesco Perpetual Income Accumulation. This has always performed well but I'm always put off by the investment charge which I believe is 3% when I ring Invesco Perpetual direct (I don't get why I have to pay so much when I'm not going through a financial advisor, also not sure if I get charged any extra during the year...). Anyway I've been reading about Discount brokers on MSE and gather they generally charge less; the Invesco Perpetual Income Accumulation units appear for example on the Hargeaves & Lansdown website and the charges do indeed look lower, but what I can't work out is - can I invest within my current 'account number' as I want to keep everything in one place otherwise I lose things & get very confused!!!:o
Many thanks for any help
Louise

jem16

louiseadav wrote: »

what I can't work out is - can I invest within my current 'account number' as I want to keep everything in one place otherwise I lose things & get very confused!!!:o

if you want to keep the existing IP Income fund plus use HL instead of going direct you would need to transfer your existing ISA into an HL ISA. HL would organise the transfer for you. HL, however, are not the cheapest option.

louiseadav

Ah I see many thanks jem16; so who are likely to be the cheapest option and do I get charged for the transfer?

jem16

louiseadav wrote: »

Ah I see many thanks jem16; so who are likely to be the cheapest option and do I get charged for the transfer?

Probably Cavendish Online as they rebate the full 0.5% trail commission but it does depend on the amount you're talking about.

There should be no charge for the transfer but some providers do charge an exit fee if transferring as stock. You could get round that by transferring as cash though.

Do make sure that you get the new provider to organise the transfer - don't do it yourself.

louiseadav

Ah righty-oh I'll look into Cavendish; there's about £40k in there at the mo and I want to top up with between £5-10K (haven't decided cash vs ISA vs S&S yet!)

Froggitt

jem16 wrote: »

Probably Cavendish Online as they rebate the full 0.5% trail commission but it does depend on the amount you're talking about.

There should be no charge for the transfer but some providers do charge an exit fee if transferring as stock. You could get round that by transferring as cash though.

HL charge £25 per stock to transfer. However you could lose even more by converting into cash and then rebuying at Cav if there is a buy/sell spread.

louiseadav

So what's my best bet d'y reckon then?!