Low or no cost share buying

davidgmmafan

Hi,

I'm sure I read an article in the last couple about a new product that would allow people to buy and sell shares for free. I can't remember what the catch was though, if it was to watch adverts or something else.

In any event if I dreamed this or it hasn't been launched yet what do MSE members find the best way to do one off transactions?

Regards,

ChesterDog

Sounds like the new Dutch platform that allows free trading if you agree to lend your shares to others for shorting, IIRC.

Ifts

You could use someone like X-O.co.uk share dealing services (£5.95 per trade) for a low cost way of buying shares.

X-O don’t charge account opening fees, management fees or inactivity fees etc.

EdGasket

Or Aj Bell Youinvest £4.95 if you trade 10 times a month. I'd be wary of any 'free' service because it will probably be awful.

masonic

ChesterDog wrote: »

Sounds like the new Dutch platform that allows free trading if you agree to lend your shares to others for shorting, IIRC.

...and of course if you're happy to forego FSCS protection.

It's probably not such a bad thing to pay a modest trading fee. At least it discourages overtrading, which is best avoided not only because of the transaction costs.

EdGasket

Don't most of the so called Boiler rooms operate from Holland? Just saying

ChesterDog

The one I am thinking of is (if memory serves) has been operating in the Netherlands for a while with this model, but is soon to list in the UK and elsewhere, and will therefore have a UK registration.

Playing_with_Fire_2

Self trade is free for funds but charges an inactivity fee if you do nothing for (I think) three months.

Regular purchases are often the cheapest way to by shares ~£2 per trade

EdGasket

Within reason, you should be worrying more about what to invest in than whether you are paying £9.99, £5.95, or £0 per trade as the performance of the investment will usually dwarf any charge unless you are trading frequently on small changes in price.

davidgmmafan

Very good advice thanks guys. Yes it was the shorting one I was thinking about, but an inactivity fee makes sense. I will probably use a low cost one as I agree the what is more important than a few pounds here or there.

rutrader

Have a look at Degiro (this is my first post, not sure if I can post links). They have a very little comission to trade (£1.75) per trade for UK shares, US shares even cheaper. Also, no inactivity fees etc.