NISAs - Some corrections

edited 2 July 2014 at 10:33PM in Site Feedback
RayWill_2RayWill_2 Forumite
11 Posts
edited 2 July 2014 at 10:33PM in Site Feedback
Hallo, Just been reading your NISA guide. Here is a correction.
It is very often cheaper to buy shares (NISA or otherwise) through a proper stockbroker, rather than some "platform".
X-O (it stands for "Execution Only") is the very cheapest I can find. It charges a one off flat fee of £5.95 to buy, and £5.95 to sell. There are no "platform" charges at all. No charges for inactivity or anything else, no "percentage" charges, ISA/NISA charges, or monthly fees. X-O is the execution-only arm of Jarvis of Tunbridge Wells, a highly reputable group.
So, reserve platforms for catching trains. Use a real stockbroker!
It is usually better to buy investment trusts rather than unit trust or unitised funds: the costs of operating investment trusts is lower.
Some investment trust houses have their own savings and NISA schemes: in every case I have seen, using a low-cost stockbroker is cheaper.
Stockbrokers are not so well known because they advertise a lot less. Guess who pays for the advertising!
Readers may have their own stockbroker recommendations.
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