Good sharedealing service

dc74_2

Hi all hope this is on the correct forum...

Can anyone recommend a decent sharedealing service?? I used to use the Halifax, but have become unhappy with them. You used to be able to deal online using a debit card and trade instantaneously. Now however, you need funds in their account (which takes up to 5 days) before you can deal. Surely the whole point of sharedealing is you need to act quickly!!

What irks me most is that I suspect they do it this way so your money sits in their account earning diddly squat whilst you wait for the right time to buy.

I am looking for a sharedealing service that can offer instant dealing using a debit card.

Cheers.

geralddlp

Well I use Idealing, but they have the same problem that you highlight.

I also use iwebsharedealing, which last time I traded was instant from a debit card. but, they are owned by the halifax, so it's worth checking that they haven't changed.

It is especially ironic as they deal on T+3 or 5 anyway, so why won't they let you trade while the money is in transit,

cheers G

gt94sss2

dc74 wrote: »

Can anyone recommend a decent sharedealing service?? I used to use the Halifax, but have become unhappy with them. You used to be able to deal online using a debit card and trade instantaneously. Now however, you need funds in their account (which takes up to 5 days) before you can deal. Surely the whole point of sharedealing is you need to act quickly!!

I am looking for a sharedealing service that can offer instant dealing using a debit card.

I recommend that you join Selftrade - they charge £12.50/trade to buy/sell shares.

They charge no annual fees or inactivity charges for their standard dealing accounts and accounts can be funded immediately using a debit card.

In addition, Selftrade also have a referral scheme where you could get up to £80 (if interested, my details are in post 242 in that thread) for joining them.

Regards
Sunil

gt94sss2

geralddlp wrote: »

It is especially ironic as they deal on T+3 or 5 anyway, so why won't they let you trade while the money is in transit,

The approaches different brokers use is interesting, HSBC InvestDirect (standard account, not Plus) give you a 'credit limit' and allows you to buy that much in shares - it would then debit your HSBC current account with that sum on the settlement day.. which is useful if your money is in a savings account and will take a few days to transfer over.

I think the InvestDirect Plus account can also be funded by debit card..

Regards
Sunil

rathernot

It depends whether you mean UK shares only or if you want access to foreign exchanges?

I'm only just starting out with all this but Interactive Investor seem to be a good option, £10 for instant trades (£15 if it's US markets) and if it's something that doesn't need to be instant they offer a £1.50 Portfolio Builder service.

Your account has to have funds in it to trade, but those are taken from a Debit Card so it's immediate unless it's against an ISA.

influence

I second using Investdirect from HSBC. Easy to use and generally you get support within 2 days.

Has anyone use RBS or Natwest's sharedealing facility? THey seem to be able to trade in most major stock exchange. Price looks decent as well.

debbie42

dc74 wrote: »

I used to use the Halifax, but have become unhappy with them. You used to be able to deal online using a debit card and trade instantaneously. Now however, you need funds in their account (which takes up to 5 days) before you can deal. Surely the whole point of sharedealing is you need to act quickly!!

Which Halifax account is it? I have a dealing limit on my account, so anything up to that it will take it automatically from my (Halifax) current account.

I also use Selftrade, and am generally happy with that.

[Deleted User]

I have a halifax current account and thus the funds go in instantly. You dont need to deal instantly unless your reacting to teh papers in which case its prob better to wait until people buy and then the speculators sell again to return the price. I normally do the £1quid fifty pence deal as i buy on sound company performance or expected growth not press tips.

dc74_2

thanks for the advice guys. My current account is not with the Halifax, hence I think the reason for the delays. I will look up a few of the options suggested.

Incidently, I am interested in British Airways shares, which I believe is an undervalued company. Funnily enough, they fell 22p on Friday so maybe the delay was a good thing!

noh

dc74 wrote: »

thanks for the advice guys. My current account is not with the Halifax, hence I think the reason for the delays. I will look up a few of the options suggested.

Incidently, I am interested in British Airways shares, which I believe is an undervalued company. Funnily enough, they fell 22p on Friday so maybe the delay was a good thing!

You can fund your halifax sharedealing account with a debit card instantly.
Thats exactly how I use mine. My debit card is issued by Nationwide.
The only thing you have to do is register the Debit Card with HSDL before you can use it, this I think is your problem. So call them and get them to send you the relevant form.

Nigel

FelOn_2

dc74 wrote: »

Incidently, I am interested in British Airways shares, which I believe is an undervalued company. Funnily enough, they fell 22p on Friday so maybe the delay was a good thing!

Probably to do with the oil price rise last week (futures & spot).