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Share Dealing Discussion Area

edited 19 May 2011 at 3:36PM in Savings & investments
2.7K replies 798.1K views
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  • cloud_dogcloud_dog Forumite
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    figi wrote:
    1 how safe is it to transfer my holding over to people who I don't know? If my name no longer appears on the register of shareholders then how can I be safeguarded from having them nicked?
    Well, you don't know banks or BS personally but you give them your money (only joking...). Just make sure they are regulated by the FSA and if you need to check them out with the FSA and even Companies House (if relevant).
    2 what is the difference between a ringfenced and a non-ringfenced account? The value of my holding is (at the moment!) in excess of the
    £30k I have seen mentioned as the safeguarded amount.
    Have to admit to not knowing what a 'ringfenced' account is'. Are you sure you're not confusing it with the compensation scheme run for deposit accounts, i.e. 90% up to £30k something?
    3 I am thinking of signing up with the This is Money website Sharedealing service. They charge £15 per trade. They have no subscription charge. What appeals to me about them is that they are connected with a site I know fairly well and is backed by Associated newspapers, and also that I would be eligible to ask free advice from a team of stockbrokers.

    Does anyone have experience of either nominee accounts in general or of the This is Money sharedealing service?

    Thanks very much in advance to anyone who replies......
    No experience with the TIM service but have my / my wifes accounts, including ISA investment accounts with Selftrade (used to be Squaregain), and I know a few others also use them. £12.50 per trade with no account charges. They are not the absolute cheapest but service is pretty good.

    I know some people like the Halifax nominee account service as it is very cheap but, it acheives this by polling trades and only dealing on specific days of the month.

    cloud_dog
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • dilieddilied Forumite
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    Shaanbles wrote:
    Anyone heard of these guys or been to their 3 day seminar. Trying to work out if they are any good.
    Have heard of win...suggest you go to bbc.co.uk and chuck it in the search...you will then see a few (uncomplimentary) articles
  • LOSTLOST Forumite
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    Hi - I'm looking to sell my holding of shares and want to know the cheapest and most convenient to get rid of the following ordinary shares:
    500 shares of BT
    5000 shares of Gamingking
    500 shares of Firestone Diamonds
    500 shares of TG21 (ex TOAD)

    should I go through the firms appointed share dealing service (i.e. Llyods TSB Registrars in re. BT Shares) and deal the rest through a single broker - or should I just go through one broker (will I get a better deal this way?)

    thanks in advance for your help
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  • cloud_dogcloud_dog Forumite
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    LOST wrote:
    Hi - I'm looking to sell my holding of shares and want to know the cheapest and most convenient......
    LOST, I'm not sure the two go together.

    For convienience take the share certificates to a local bank who provides a share dealing service (Barclays / Natwest, etc) but you are likely to pay up to £30 per transaction.

    Alternatively open a dealing account with an online broker, send in the share certs, and then sell them (Selftrade charge £12.50, others charge more / less, Halifax have a dealing service that is very cheap but you can only deal on specific days of the month).

    cloud_dog
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • LOSTLOST Forumite
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    cheers dog!

    will have a look into them!
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  • cloud_dogcloud_dog Forumite
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    LOST wrote:
    cheers dog!

    will have a look into them!
    One other thing, if you do open an online dealing account look into possible charges for closing the account (should you no langer want it), I beleive Selftrade do not charge for this but, others do (region of £60).

    cloud_dog
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • cheerfulcatcheerfulcat Forumite
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    MSE might like to note that Hoodless Brennan have been fined for a second time by the FSA - this time for unacceptable sales practices which includes persuading customers to buy high risk shares. Cheap isn't always best...
  • Franko43Franko43 Forumite
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    Seen that earlier myself CC - should we only take this into consideration where investors have HB hired as an advisor. Or for people like myself currently investigating the market to use HB online to buy/sell stock would this have an affect?
  • cheerfulcatcheerfulcat Forumite
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    Hi, Franko,

    A well-respected poster on TMF has this to say about HB.

    I don't know whether the people who have been telephoned by HB are only those using the advisory service but I have to say that if my ( execution only ) brokers were to be fined for " unacceptable practices " they wouldn't see me for dust!
  • Franko43Franko43 Forumite
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    Agree CC - this hasn't been the first time it happened to them. However MSE articles seem to give them a big thumbs up esp. when it comes to price. But price ain't everything. On the flip side since they now might have a bit of a credibility problem they may tighten their horns in and even cut prices to attract lost business
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