Cheapest stock broker online

siscor

Hi! I'm researching to start trading online and I came across some services, which I'm not sure if they are right. Anyone can help me with costs?

All BUYs subject to 0.50% stamp duty
Capital gain 2011/12: 18% for over £10,600 (Only if your profit is over this amount you will pay it)

TD Waterhouse: transactions cost £12.50 (frequent £8.95, 15 transactions/3 months)
JPJ Shares: transactions cost £5.75 (frequent £4.75, 15 transactions/1 month)
SVS Securities: transactions cost £5.75 (1st month £1 each)
Saxo Bank/Barclay shares (don't confuse with Barclays) was not taken as the funders were linked to fraud and there are reports that CFDs prices are manipulated (the same as the customers)

ALL prices quoted are delayed 15 minutes and you will see the live price when doing a transaction.

rockitup

siscor wrote: »

Hi! I'm researching to start trading online and I came across some services, which I'm not sure if they are right. Anyone can help me with costs?

All BUYs subject to 0.50% stamp duty
Capital gain 2011/12: 18% for over £10,600 (Only if your profit is over this amount you will pay it)

TD Waterhouse: transactions cost £12.50 (frequent £8.95, 15 transactions/3 months)
JPJ Shares: transactions cost £5.75 (frequent £4.75, 15 transactions/1 month)
SVS Securities: transactions cost £5.75 (1st month £1 each)
Saxo Bank/Barclay shares (don't confuse with Barclays) was not taken as the funders were linked to fraud and there are reports that CFDs prices are manipulated (the same as the customers)

ALL prices quoted are delayed 15 minutes and you will see the live price when doing a transaction.

I have an account with TD Waterhouse myself and others but not JPJ and SVS so cannot comment on their platforms.

You mentioned "frequent trader" rates and don't know if you thought about it but it may be handy having a spread betting account with just a small amount in there just to be able to access Advanced Charts (IG's offering) or similar. You need to make minimum 2 trades a month but you could do a £1 a point bet on a FTSE share or something like that for a qualifying trade.

If you are not considering frequent trading the normal 15 minutes delayed prices may suffice for your needs.

Credit-Crunched

Sorry,

What exactly are you asking?

siscor

I'm asking for somebody who has trade with them, about the pricing if that is correct.

Additionally if any had experience with them to comment, like rockitup.

I'm very new in trading and only now about stocks which are simply buy/sell, but no knowledge about CFD/futures/Advanced charts....

Thanks!

gadgetmind

siscor wrote: »

Capital gain 2011/12: 18% for over £10,600 (Only if your profit is over this amount you will pay it)

Only for basic rate tax payers. You stack your capital gains on top of all other income and then tax it appropriately (that below 40% band at 18% and that above at 28%)

How much are you investing? An ISA will avoid a lot of tax issues and bothersome record keeping.

Reaper

siscor wrote: »

Capital gain 2011/12: 18% for over £10,600 (Only if your profit is over this amount you will pay it)

Or use a S&S ISA and you pay no capital gains. However there is often an addtional fee with the brokers to hold your investments in an ISA.

I can't comment on the brokers you mention as I use X-O (£5.95 a trade, ISA free until you come to close it when it costs £50).

temagami

Just one note on JPJ, it's an Isle of Man company and hence falls under the IoM regulatory system and not the FSA. I don't know enough about IoM regulations to comment on what protections you might have, but it would not be covered by the UK Financial Services Compensation Scheme. See the Kaupthing Singer & Friedlander IoM account holder losses for an example of the difference.

With companies that look British but are based in British offshore territories you need to be careful that you understand regulation. IoM, Jersey, Guernsey are not covered by mainland UK rules or European ones as I understand it. Gibraltar I believe is backed into the European regulations by virtue of having a different relationship with the UK to the other three, but not FSA/FSCS covered. (I may be wrong on some points of this - I have studied no more than the basics of securities law and regulation.)

Special_Saver2

You should also consider the costs of the occasional corporate action (e.g. rights issues) and the costs of dividend reinvestment.

Also, there are some brokers that offer share purchases for £1.50 plus stamp duty (but you will not know the price you pay beforehand). This service is designed for people investing small amounts of money regularly, e.g. monthly.

You may wish to have a look at post 3 in this thread: Low cost S&S ISAs. Note that this thread relates to ISAs only - the non-ISA accounts may be slightly different, e.g. x-o.co.uk charges a closure fee only on their ISA account, not on their standard trading account. That thread also includes some opinions from forum users.

SS2