Does anyone use Simply Stockbroking for an S&S ISA? Any negatives?

adamt

Hi,

Was wondering if anyone here uses SSB to trade UK shares in a S&S ISA?

What are the positives and negatives having them as a broker?

How is their online platform compared to iii?

thanks

adamt

Anyone please?

TDM850

Adam I use Traders Own who offer the same online ISA service but at £6 per trade. Link here

adamt

Thanks TDM,
how do you find their platform?
the website looks quite basic

how long have you been trading with them? any problems?
can you use stop losses/limit orders free of charge?

JamesU

Traders own seem a fairly obscure operation set up in 2010 with a tidy web front but with no real track record. It seems like a virtual company using an existing simply stockbroking platform and TradersOwn is a small spin out from Sussex innovation centre. According to accounts breakdown filed in 2011 (link below) they have a net worth of just £4,500.......hardly the right profile to try marketing themselves as a PLC. Personally I would give them a wide berth for now.

http://companycheck.co.uk/company/07169499

It was set up in 2010 with emphasis on social networking and members that trade get non voting shares that can be used if it were ever to float on the market (as opposed to holding real shares in the existing company), hence why it is called a "PLC". The set up and accounts at Traders Own look like a bit of a joke to me, they could fold at a minutes notice and I would avoid them myself.

Maybe have a read through Special_saver's excellent regularly updated link below for some proper alternative providers here:

https://forums.moneysavingexpert.com/discussion/comment/42607054#Comment_42607054

JamesU

adamt

fair points James, this does make me reluctant to join traders own now