Best execution only share dealing service, no inactivity/quarterly fees? (iweb / XO?)

sandspider2000

Hi all

I have a few shares held in an account with Interactive Investor, including one company in an ISA. I got an e-mail from II saying that they intend to start charging a quarterly fee, and as I trade very infrequently, this would do me no favours at all.

Can anyone recommend a good execution only share dealing service with no / low quarterly fees?

Thank you.

sandspider2000

And ideally, low trading fees and free stop losses too?!

Thanks.

sandspider2000

Actually, I've just seen the huge thread about this!

I looked at the two top contenders, XO and iWeb. XO seems quite a bit cheaper, so is it "worse" than iWeb? Any opinions from users of both / either?

TIA.

nearlyretired2004

You need to have the transfer in place by 30th this month to avoid any transfer fees ..... as detailed in the other thread.

For what its worth I've gone with x-o, partly because I already had a 'dormant' account with them and partly because of the new statement on their homepage that 'unlike some of their competitors' they will never charge any admin or inactivity fees.......

Jegersmart

sandspider2000 wrote: »

And ideally, low trading fees and free stop losses too?!

Thanks.

I have tested SVS and at 6.95 per trade and no management fees with stops and limits free as well - they seem to be a good option so far.

J

flashnazia

Jegersmart wrote: »

I have tested SVS and at 6.95 per trade and no management fees with stops and limits free as well - they seem to be a good option so far.

J

I think svs only do ftse 350?

flashnazia

IWeb might introduce charges at some point. XO is execution only and promise they won't. That's what won it for me.

sandspider2000

Thanks all.

I went XO in the end, for the same reason as above. As no broker I've ever been with has given wonderful service, I might as well pay as little for it as possible!

And nearlyretired, thanks, but the deadline for me is the 31st July. Only got the e-mail from III a week or so ago.

Giles

TCA

Anybody got an account with X-O and care to comment on their overall offering? I'm looking at using either them or TD Direct as a "no-fees" platform for holding investment trusts. I read somewhere that X-O use the Halifax dealing platform and also sell ETFs, but can't find anything to verify that.

I'm also looking for a (separate) home for my ISA funds, with IWeb the current frontrunner, so any comments about them would be welcome too.

grizzly1911

I have an so account used for a few IT deals and the RMG offer. I have had no problems and dividends have come through without issue.

Getting funds out of them is clunky though. It needs an email and three day BACS payment to your nominated account.

Ifts

TCA wrote: »

Anybody got an account with X-O and care to comment on their overall offering?

Ive been using X-O for a number of years and its been fine for me, only on one occasion I was unable to login, which was rectified in under an hour with the help of X-O on the phone.

As mentioned by grizzly1911 making a withdrawal is a little clunky, email followed by 3 day bacs wait for the money to land into your linked account (although I still have to wait 3 days making withdrawals with The Share Centre - only difference TSC accept withdrawal request by phone).

I read somewhere that X-O use the Halifax dealing platform and also sell ETFs, but can't find anything to verify that.

Thats a first that Ive heard X-O may be using the Halifax dealing platform so cannot comment on that.

But X-O do let you deal in ETFs: http://www.x-o.co.uk/how_to_use.htm#11 (12. What markets can I deal in?)