Share Trading - Best Brocker for ISA?

Tanarif

Hi,

I'm looking to use up my ISA share allowance to buy some stock, however not entirely sure which to use. Was considering using TDWaterhouse, but a lot of feedback seems to be negative from them. Then was thinking of using III (Interactive Investor), but it seems I need to pay £50 to cash out of an ISA if wanted to? Also it says it charges £20 per quarter, so if the shares don't make profit, I could on top of that have an extra £20 take an off..

All in all not major issues as I plan to invest ~ £6000 and make more than the fees, but if anyone has any recommendations / ones they've used, would be much appreciated!

Cheers

sabretoothtigger

6000 could be one share or a hundred, its upto you which is best. Almost everyone should stick to unit trusts in an ISA unless they wish to gamble some profits on a share. iii might be best for funds depends how often you deal, etc

grey_gym_sock

https://forums.moneysavingexpert.com/discussion/3153942 is a useful guide to ISA providers. see posts #3 (and #4) if you're going to buy individual shares.

Tanarif

sabretoothtigger wrote: »

6000 could be one share or a hundred, its upto you which is best. Almost everyone should stick to unit trusts in an ISA unless they wish to gamble some profits on a share. iii might be best for funds depends how often you deal, etc

I plan to split it between 3-4 stocks, and hold them for a few months at the least each, with stop losses beyond what I'm comfortable with. Any suggestions based on that?

grey_gym_sock wrote: »

..

Cheers, will defo give that a read soon.

IronWolf

Do you just want to hold UK shares, or are you considering foreign ones?

I use SaxoBank as they have the biggest foreign share offering and reasonable FX charges, but there are UK only options that are cheaper.

Tanarif

IronWolf wrote: »

Do you just want to hold UK shares, or are you considering foreign ones?

I use SaxoBank as they have the biggest foreign share offering and reasonable FX charges, but there are UK only options that are cheaper.

One or two foreign shares too, but mostly UK ones. Are Saxo any good? I'm considering just going with a regular trading account rather than an ISA one, as with a regular if I'm correct there's no quarterly fee, and hence I'm unlikely to make a loss based on that, though obviously I'll get taxed ~ 20% on any profits, but if I'm making profits I'm happy anyway

IronWolf

If its only £6k then unless you make well over 100% returns you wont pay any capital gains tax.

For a regular trading account I haven't found anything better than SaxoBank in terms of the breadth of markets and products they offer. They do a demo account if you want to try the platform, is a bit complicated but has everything you'll ever need and more.

They don't offer funds though, and have hardly any AIM shares, I have to hold those in a First Direct trading account.

quotememiserable

I've used TD for years and everything's always run as smooth as, well, a smooth thing.