Sharedealing

gwen80

Hi

No idea where to post this, but I have a share certificate and I'd like to sell them. How do I go about selling them and finding the best deal? I have no idea! Please help!

Thanks

Gwen

Ifts

You can do it via X-O.co.uk share dealing services (£5.95 per trade) -

How do I transfer in stock that I hold in the form of certificates?

http://www.x-o.co.uk/how_to_use.htm#5

gwen80

Ifts wrote: »

You can do it via X-O.co.uk share dealing services (£5.95 per trade) -

How do I transfer in stock that I hold in the form of certificates?

http://www.x-o.co.uk/how_to_use.htm#5

So I only pay £5.95, nothing more? I googled 'best sharedealing' or something today and got really confused. There was talk of account charges for a year or something?

Is this company ok? They won't sell my shares and pocket the cash or anything?

Thanks

Gwen

Ifts

gwen80 wrote: »

Is this company ok? They won't sell my shares and pocket the cash or anything?

No you don't have to worry about that happening with this broker.
I have used them for a couple of years now with no problems at all, if anything the service is very good considering you only pay £5.95 per trade.

Open a Share Dealing account with them (free to open and no annual account charges) then transfer your share certificate in to your account, then all you pay is £5.95 to sell (most listed UK equities can be traded).

MercenaryMan

Ifts wrote: »

You can do it via X-O...

I like X-O but be aware of their charges[STRIKE], particularly the £50 account closure fee if you want to cut all ties after the deal[/STRIKE].

EDIT: I was mistaken about the closure fee - that only applies to their S&S ISA accounts.

You may also want to check your chosen broker is on the FCA financial services register.

Ifts

MercenaryMan wrote: »

I like X-O but be aware of their charges, particularly the £50 account closure fee if you want to cut all ties after the deal.

Are you sure? Is that not the ISA account closure fee you are on about.

If the £50 account closure fee does apply to their nominee sharedealing account then you could just leave a nominal amount in you account and don't close it.

MercenaryMan

Ifts wrote: »

Are you sure? Is that not the ISA account closure fee you are on about.

Sorry, you're right! I missed that.

Ifts wrote: »

...you could just leave a nominal amount in you account and don't close it.

Though this carries some risk as charges might change over time.

Shaolin_Monkey

There are lots of companies that will sell your shares in certificate form as a one off. Loads of companies offer the service, e.g. most high street banks, share registrars (ComputerShare, Equiniti Shareview or Capita are the main ones) and most stockbrokers (e.g. Hargreaves Lansdown). The charge is normally higher than what you'd pay through an online trading account, but there are no strings and no account opening procedures.

What is being suggested above is transferring the shares into a nominee "trading" account and then selling them. It can work out cheaper because firms are keen for customers to transfer shares into them, trading costs on nominee accounts are lower than when dealing with share certificates, and the firms *hope* that customers will then use them for their future share trading. Obviously they are not really looking for people to transfer in, sell their shares and then withdraw all their money like you are planning to do. It's kind of playing the system, which is fine, but you would need to check that there are no exit penalties for withdrawing funds immediately or closing the account.