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HL share dealing account "no charge"
A_T
Posts: 969 Forumite
Looking at their website it costs £11.95 to make a deal but then no annual charge (unlike the .45% for ISA and SIPP). What's the catch?
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None, that's the deal for the Fund and Share account, it's quite competitive. The ISA and SIPP charges are capped at £45 and £2000
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None, that's the deal for the Fund and Share account, it's quite competitive. The ISA and SIPP charges are capped at £45 and £200
Thanks.
I was wondering if I invest 10k in just one ETF, I'm thinking of HSBC ETFs Plc MSCI World ETF GBP (HMWO) which has an annual fee of .15%, will I incur any foreign exchange charges from HL. Or will I just pay the £11.95 deal charge then no further charges from HL just the .15% fund charge?0 -
Looking at their website it costs £11.95 to make a deal but then no annual charge (unlike the .45% for ISA and SIPP). What's the catch?
If you buy unit trusts or OEICs there is an ongoing charge on those funds of up to 0.45% p.a.
http://www.hl.co.uk/investment-services/fund-and-share-account/charges-and-interest-rates
There are also termination charges which can be significant if you have a lot of separate holdings. And in the past HL have introduced new charges and increased existing charges and levied exit fees on those trying to leave solely to avoid the new/increased charges.0 -
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Thanks.
I was wondering if I invest 10k in just one ETF, I'm thinking of HSBC ETFs Plc MSCI World ETF GBP (HMWO) which has an annual fee of .15%, will I incur any foreign exchange charges from HL. Or will I just pay the £11.95 deal charge then no further charges from HL just the .15% fund charge?
The exit fees at HL would put me off using them (an account closure fee of £25+VAT and £25 per holding to transfer shares to another broker).0 -
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Looking at their website it costs £11.95 to make a deal but then no annual charge (unlike the .45% for ISA and SIPP). What's the catch?
I suppose the 'catch' is you get no interest on cash, people tend to trade more than they think they will, and buy other things the platform makes a profit on. Same as Banks offer free current acounts in the hope of selling you something they make a profit on.“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0 -
None, that's the deal for the Fund and Share account, it's quite competitive. The ISA and SIPP charges are capped at £45 and £200
That's only true for shares though isn't it? I thought funds were uncapped?Remember the saying: if it looks too good to be true it almost certainly is.0 -
That's only true for shares though isn't it? I thought funds were uncapped?
Correct, the caps only apply to shares, ITs and ETFs. For all funds/UTs there is no cap on the platform fee."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2021 - #027 £15,268 (76%)0
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