Why do some people pay £10-20 extra to trade over the phone instead of online?

adamt

It doesn't make sense to me?

Surely online trading is quicker and more convenient than phoning a broker to put a trade on for you?

or am i missing a trick here by not executing a trade on the phone?
do you get better stock prices?

opinions4u

Not everybody knows how to use the Internet.

Perelandra

Eh? Surely the prestige of "calling your broker" when with a bunch of mates down t'pub more than makes up for any additional transaction cost?

Ifts

adamt wrote: »

or am i missing a trick here by not executing a trade on the phone?

Telephone can be cheaper than online, Ring395 (Part of Jarvis Investment Management Ltd) offer telephone only sharedealing service @ £3.95 fixed commission.

Perelandra wrote: »

Eh? Surely the prestige of "calling your broker" when with a bunch of mates down t'pub more than makes up for any additional transaction cost?

Funny that cos it was only last night that I was watching an episode of Only Fools & Horses, where Delboy walks around waving his Filofax in the air as he enters t'pub pretending to be a stock broker!

cepheus

Some less liquid stocks exceed the electronic normal market size (NMS) especially during volatile periods and need to be traded by telephone. However, opinions is correct, many people just can't access the internet or smartphone for one reason or another.

cepheus

Perelandra wrote: »

Eh? Surely the prestige of "calling your broker" when with a bunch of mates down t'pub more than makes up for any additional transaction cost?

I expect the pub poser :cool2: who bought facebook shares :doh:will have been reduced in his prestige appeal then? :embarasse Then again at least he doesn't have to pay for other peoples rounds!