best online share dealing account for infrequent trading

statistic

Hi -

I'm looking for one that doesn't charge quarterly inactivity fees, and also allows trading on U.S markets. I've looked at quite a few so far, and they all seem to have one draw back or another.

Thanks.

statistic

The ones I've considered so far are:
tddirectinvesting.co.uk
hl.co.uk
shareprices.com
selftrade.co.uk
fool.co.uk/fool/free-report/sharedealing/home-154203.aspx
guardianshares.com
tddirectinvesting.co.uk
iweb-sharedealing.co.uk
share.com
iii.co.uk
x-o.co.uk
clubfinance.co.uk
svssecurities.com

Glen_Clark

As far as I can see, there is only one way of making sure the broker does not start charging you ever increasing fees when he has already got you by the b*llocks - (or as a far less likely possibility do a Bernard Madoff with your shares). And that is to keep the certificates yourself - so nobody has a hold over you. From what I have seen, this is only available through telephone dealing.

Jegersmart

I use x-o.co.uk for certain types of trades on UK equities and certain trackers and ETFS that are London based. They do not offer US stocks.

I use Selftrade for international stuff, although they do have a £8.75 plus VAT inactivity charge on their dealing accounts but it doesn't bother me but it depends on your size of "pot" I guess?

I don't think I have found an online broker that offers full UK and international coverage with no inactivity fees but maybe someone else has and will chime in here?

J

sabretoothtigger

The ones I've considered so far are:
iweb-sharedealing.co.uk

Bingo. Lowest Ive seen for small dealers. If you deal big you could probably try going to a USA broker.
If you wanted to pay no initial fee, probably halifax

Totton

HL and Barclays have been fine for me, NatWest much less so.

HTH,
Mickey

statistic

Has anyone tried Motley Fool's Share Dealing Account. They don't have inactivity charges, and allow international trades (although find weird that they charge for stop loss' etc. is that normal?).

grey_gym_sock

for dealing US shares with a UK broker, you should also be checking what foreign exchange charges they make. it's often well over 1%.

also, do they let you hold cash in dollars? because if they don't, and you want to switch from 1 US share to another, you'll incur 2 lots of foreign exchange charges on the same money.

some related info here: http://the-international-investor.com/international-stock-broker-list

statistic

Jegersmart wrote: »

I use x-o.co.uk for certain types of trades on UK equities and certain trackers and ETFS that are London based. They do not offer US stocks.

I use Selftrade for international stuff, although they do have a £8.75 plus VAT inactivity charge on their dealing accounts but it doesn't bother me but it depends on your size of "pot" I guess?

On the how to section of x-o it states: Please note that you cannot deal in foreign shares that are listed on overseas markets. If you wish to invest in a CDI of a US stock you will need to complete a Form W-8BEN before you can trade.

I phoned through,and I was told that that I'd be able to deal in U.S stock after having completed the form. I was told that tier charges are the same (although I'm unsure because she didn't sound convinced herself), and that they don't charge an additional foreign currency conversion rate. :S

sabretoothtigger

CDI might best though Ive never used that

statistic

sabretoothtigger wrote: »

CDI might best though Ive never used that

How do CDI's differ from normal shares? Are they not the same thing?