What do the share dealers think of this account?

SteveCat

http://www.bankofscotlandhalifax.co.uk/sharedealing/sharedealingaccount.asp

Does anyone use it and if so is it any good.

gt94sss2

Its the same offering as Halifax's service.

If you want to use it, I suggest you sign up to the Motley Fool version - which is also run by Halifax but slightly cheaper than going to Halifax/BoS direct.

Regards
Sunil

SteveCat

gt94sss2 wrote:

Its the same offering as Halifax's service.

If you want to use it, I suggest you sign up to the Motley Fool version - which is also run by Halifax but slightly cheaper than going to Halifax/BoS direct.

Regards
Sunil

Thanks Sunil, just another question though. What is the difference between the two accounts MF offer? One I notice has a charge per deal of £10 and the other, the share builder I believe is £1.50. Does that mean the £10 account is purely for share dealing over a shorter period and the £1.50 account is for longer investments?

gt94sss2

SteveCat wrote:

Thanks Sunil, just another question though. What is the difference between the two accounts MF offer? One I notice has a charge per deal of £10 and the other, the share builder I believe is £1.50. Does that mean the £10 account is purely for share dealing over a shorter period and the £1.50 account is for longer investments?

The main difference is that the £10 account lets you buy shares whenever you want and you know the exact price you are buying them for.

The Sharebuilder one bundles your order with their other customers and only buys shares once a week (on set days) - keeping their costs and hence the price down.

This does mean that you don't know the exact price in advance (though you chose the date) but its good for people saving regular or small amounts as the commission is a lot less.

Depending on how often you plan to buy/sell shares there are other stockbrokers as well who might be suitable for you..

Regards
Sunil

SteveCat

gt94sss2 wrote:

The main difference is that the £10 account lets you buy shares whenever you want and you know the exact price you are buying them for.

The Sharebuilder one bundles your order with their other customers and only buys shares once a week (on set days) - keeping their costs and hence the price down.

This does mean that you don't know the exact price in advance (though you chose the date) but its good for people saving regular or small amounts as the commission is a lot less.

Depending on how often you plan to buy/sell shares there are other stockbrokers as well who might be suitable for you..

Regards
Sunil

Thanks again Sunil, I'm very new to this and am currenlty doing my research. Therefore which account with the option to buy and sell whenever would you reccomend if you could?

gt94sss2

SteveCat wrote:

Thanks again Sunil, I'm very new to this and am currenlty doing my research. Therefore which account with the option to buy and sell whenever would you reccomend if you could?

I usually recommend one of three brokers - which one depends on a variety of things including:

- Would you be happy dealing online and/or telephone?
- Do you want share certificates or are you happy with a nominee account?
- How frequently you will trade?
- Are you interested in UK shares only or those listed abroad as well?
- Do you want a PEP/ISA account etc.

However, the 3 are:

1) Selftrade - they will charge a flat fee of £12.50 and you can buy shares online or via the telephone. They also allow commission free purchases of Exchange Traded Funds within their ISA accounts. In addition, Selftrade have a referral scheme, where if you are referred by an existing customer, they will pay both of you £50. (Let me know if you would like more information on this)

2) The Motley Fool's own share dealing service - the Sharebuilder option is good for regular savings or savings in small amounts. Even though you are limited on which days you can buy, you can sell at any time.

3) HSBC Invest Direct who charge £11.95/trade for buying shares online and will send you a share certificate free of charge upon request if you want. (other brokers charge between £10 and £25 for this) However, you do need to open/have a HSBC current account to use this service.

The above recommendations are just for buying shares or ETF's, if you wanted to buy funds etc, you may be better off looking at other brokers..

Hope this is useful - please let me know if you have any other questions.

Regards
Sunil

SteveCat

gt94sss2 wrote:

I usually recommend one of three brokers - which one depends on a variety of things including:

- Would you be happy dealing online and/or telephone?
- Do you want share certificates or are you happy with a nominee account?
- How frequently you will trade?
- Are you interested in UK shares only or those listed abroad as well?
- Do you want a PEP/ISA account etc.

However, the 3 are:

1) Selftrade - they will charge a flat fee of £12.50 and you can buy shares online or via the telephone. They also allow commission free purchases of Exchange Traded Funds within their ISA accounts. In addition, Selftrade have a referral scheme, where if you are referred by an existing customer, they will pay both of you £50. (Let me know if you would like more information on this)

2) The Motley Fool's own share dealing service - the Sharebuilder option is good for regular savings or savings in small amounts. Even though you are limited on which days you can buy, you can sell at any time.

3) HSBC Invest Direct who charge £11.95/trade for buying shares online and will send you a share certificate free of charge upon request if you want. (other brokers charge between £10 and £25 for this) However, you do need to open/have a HSBC current account to use this service.

The above recommendations are just for buying shares or ETF's, if you wanted to buy funds etc, you may be better off looking at other brokers..

Hope this is useful - please let me know if you have any other questions.

Regards
Sunil

Cheers Sunil.

With my research I have noticed the Selftrade account and the MF's to. One of these will be my choice.

mattih5

With the MF select select ISA is the difference just that the money can be held in an ISA? Do this stop your profits from being taxed etc?