Need Advice on Choosing Isa Stock & Share broker

SHARES

I'm looking to invest some of my spare cash in a Stock & Share ISA.

I am mainly going to invest in shares from UK (possibly US) companies. I plan on trading quite frequently so low trading costs are my main concern. (2-3 trades per week, 8+ monthly)

I have been looking around on the net to try and find a suitable broker but I am having trouble deciding on one.

So far the top 2 brokers on my list are:
I web share dealing.
(one off £25 sign up fee, £5 per trade)

Club finance
(0.24% yearly charge on funds [£30 minimum charge per quarter] , £2.50 per trade)


These are the main things I am after.

• No/Low annual charge on funds
• As low as possible buy/sell fees
• Live price charts, easy & quick to buy/sell shares
• Features such as; Stop losses, limit orders etc
• Reliable service
• Must be an Stock & share ISA account

Has anyone used either of the above brokers?
I would be grateful for any recommendations, advice or suggestions

jimjames

Looks like iweb are cheapest for you.

I guess from.your question that you've not opened a s&s ISA before but trading as you suggest is far more likely to lose you money than make it.

Are you paying in a lump sum or adding weekly? What sort of amounts are you looking at?

SHARES

jimjames wrote: »

Looks like iweb are cheapest for you.

I guess from.your question that you've not opened a s&s ISA before but trading as you suggest is far more likely to lose you money than make it.

Are you paying in a lump sum or adding weekly? What sort of amounts are you looking at?

I am going to eventually use the full allowance on the S&S ISA, but for the moment I will start with 2-4k. I was hoping to flip shares quickly, just making a small percentage but over a very short time frame (Hopefully). Hence why it is important for my costs to be low as possible.

Iweb seemed good initially but i have seen a lot of neg reviews and I think it would work out more expensive in the long run for the amount of trade I would be doing due to higher buy & selling costs.

Club finance they seem to offer the lowest B&S fees and would likely work out a lot cheaper for the amount of trades that I am planing on doing.
But I'm unsure how reputable either broker is ? :think:

jimjames

I don't think there is any issue with reputation on either company.

gadgetmind

SHARES wrote: »

I was hoping to flip shares quickly, just making a small percentage but over a very short time frame

With a strategy like that, you need to be very clear about short term tactics, so listen to the experts.

http://www.thereformedbroker.com/2014/05/06/ten-surefire-trading-rules-to-make-you-rich/

gadgetmind

Oh, and for short term positions, spread bets are better as you avoid stamp duty and costs are lower.

I can recommend IG Group as my wife owns shares in them, so the money you lose will pay her dividends.

But seriously, do you really think this is the way to make money from investments?

robatwork

Trading at low levels like that you are better going to a casino where
1) no dealing charges
2) the gamble is more obvious

If you win, come out and chuck it all in a decent tracker fund

SHARES

Thanks for all the useful comments.

I was wondering does AXA's Self Investor let you you shares or is their platform only for funds? From what I can see they don't charge to buy/sell.

Perelandra

gadgetmind wrote: »

Oh, and for short term positions, spread bets are better as you avoid stamp duty and costs are lower.

Not always! Often the spread seems to be larger than the stamp duty and charge. Bizarrely.

gadgetmind wrote: »

I can recommend IG Group as my wife owns shares in them, so the money you lose will pay her dividends.

But seriously, do you really think this is the way to make money from investments?

Agree with this sentiment.

gadgetmind

Perelandra wrote: »

Often the spread seems to be larger than the stamp duty and charge. Bizarrely.

Well, something's got to keep Mrs Gadget in handbags!