iWeb Self Select ISA - Reviews and Experience

Reaper

Yes it is normal for dividends to be held in cash and for you to be able to use them to buy additional shares in the same share or different ones. You will have to pay the normal trading charges though so if you only have £50 it might be worth waiting until you have collected a bit more otherwise even a £5 trading charge would mean a -10% hit.

copper.cow

thanks Reaper for your input.

just spoke to x-o.co.uk. they charge annual fee of either £15/50 + VAT! furthermore, it would cost between £25 and £100 for buying foreign stocks, depending on the value of investment.

i am not sure when it started charging the annual fee because information i got from their website (a few days ago) seemed to say 'no' to admin/annual charge.

copper.cow

sorry for any confusion due to my last post - rang x-o again because its website clearly stated they didn't charge annual fees.

the first person at x-o gave me mixed info without clarifications. e.g. she said there was an annual fee of £50 + VAT when i asked. next, i was asking about cash withdrawal when she clarified there was no charge for online dealing only account but otherwise for the other account. at this point, i informed her i was interested in the online dealings only. we carried on and still she didn't clarify any subsequent charges she mentioned, e.g. transfer out = £10 + VAT per holding! she started to ask me to refer to the website for my last questions.

the second one was much better. here's what i learnt for online dealings only account:
- annual fees = none
- foreign stock holding = unavailable
- cash withdrawal charge = none
- account closure = £50 + VAT
- transfer out = £15 + VAT per holding
- transfer out + closing account = £50 + VAT plus £15 + VAT per holding

copper.cow

ok, there are 2 obvious contenders on my list - SVS and iWeb.

considerations:
- dealing charge - SVS = £0.75 more expensive per dealing but it's not an issue for an infrequent trader.

- transfer out - SVS = £10 cheaper per holding.

- service - both have been satisfactory at this stage.

- performance during hectic market times - don't remember i encountered any negative opinion for SVS; iWeb's has been an issue for some people.

- service towards an account holder - ?!?!?!?!?

can you share your experience with either, please?

thanks.

ajdj

Can anybody share any experience of what you are able to include in the regular investing £2 trades at iWeb?

I'm specifically looking to include some individual shares in my portfolio but need the charges to be reasonable. Most other regular investing offers seem to restrict to FTSE 350 only, is that also the case here (can't find the answer on the website or google).

Thanks.

AHulme

I have been using iweb for a couple of years now and have only one complaint. It only allows you to keep a page open for 10 minutes before having to log in again. I find this annoying as I like to keep the page open in the background as I do research. When doing any trade (charge £5) it quotes the best price and gives you 15seconds to either confirm or cancel. Otherwise it gives you the mid-price delayed 15 mins. In an ISA you can set up or cancel a trade plan without any extra charge. In a normal account it costs £2 which is deducted from the trade fee if it triggers. All the research pages are from Halifax.

snowgo

I am surprised you re-opened a thread which has been 'dead' for 2 years.
But, in case there are others considering whether or not to open an iweb account, it is one of my favourites. I currently have brokerage accounts with td direct, x-o, youinvest & iweb. I have in the past also had accounts with hargreaves lansdowne (closed due to high fees) and interactive investor (closed during their fees fiasco).

I'm reasonably happy with all four of the brokers I currently use. Their fees are reasonable and the interfaces are good. But I don't think any of these would allow you to keep a page open and be inactive for more than 10 mins. I think I'd be wary of the security of any site that didn't log you out for inactivity!

The two brokers I'd particularly recommend are TD direct - as they will allow you to buy etfs and equities that other brokers won't - and also iweb on account that they allow me to have both shares and funds in the same account & they don't charge any percentage fees on the funds, just a one-off purchase fee which is very reasonable. I find that none of the brokers display active pricing - other than for the 15 second period when you set up a trade. But you can just set up a 'dummy' trade if you want to see the price and refresh when your 15 seconds are up. It never seems to be an issue for me.

EdGasket

On the iWeb site it says it is operated by Halifax Sharedealing and yet Halifax Sharedealing charges £12.50 per trade plus an annual fee for an ISA whereas iWeb charge £5 per trade and no annual fee. How can there be such a discepancy for the same service from the same provider?

badger09

EdGasket wrote: »

On the iWeb site it says it is operated by Halifax Sharedealing and yet Halifax Sharedealing charges £12.50 per trade plus an annual fee for an ISA whereas iWeb charge £5 per trade and no annual fee. How can there be such a discepancy for the same service from the same provider?

Tesco Finest v Tesco Everyday Value?

draper29

AHulme wrote: »

I have been using iweb for a couple of years now and have only one complaint. It only allows you to keep a page open for 10 minutes before having to log in again. I find this annoying as I like to keep the page open in the background as I do research. When doing any trade (charge £5) it quotes the best price and gives you 15seconds to either confirm or cancel. Otherwise it gives you the mid-price delayed 15 mins. In an ISA you can set up or cancel a trade plan without any extra charge. In a normal account it costs £2 which is deducted from the trade fee if it triggers. All the research pages are from Halifax.

very Glad you continued with this unclosed thread as it's renewed my search for better fund platforms again,,,,well done