Free share hosting

Discovery_Shropshire

Can anyone advise if there is a company that does free share hosting. I'm currently with III and and they £22.50 per quarter. Just exploring at present....

TIA

eskbanker

There are various companies that charge an initial fee but not an ongoing one, such as X-O and IWeb:

http://www.x-o.co.uk/our_charges.htm
https://www.iweb-sharedealing.co.uk/charges-and-interest-rates/share-dealing-account-charges.asp

pafpcg

Discovery_Shropshire wrote: »

Can anyone advise if there is a company that does free share hosting. I'm currently with III and and they £22.50 per quarter.

Do you mean you're looking for a nominee account which does not charge to hold your shares?

I've had an account with SVS (svsxo.com) for six years now and not paid anything for them to hold shares in my account. Dealing charges are £7.95 for each trade. (SVS allow accounts in joint names.)

I also have a share-dealing account and S&S ISA at IWeb (https://www.iweb-sharedealing.co.uk and part of Halifax Share Dealing) which has no holding charges but there is a £25 initial fee. Dealing charges are £5 for each trade. (IWeb do NOT allow accounts in joint names.)

There's also X-O Jarvis which I understand has no charges other than for buying & selling.

But the ultimate in zero-cost for share holding is to have share certificates - the certificates are in your name and dividends will be sent direct to the bank account you nominate. There's usually a fee of £15 - 25 to convert a nominee-based share holding into a certificate but there should be no charge to transfer back to a nominee account when you want to sell. But you do need to keep the share certificates in a safe place.

dividendhero

Call me paranoid, but I'd rather use somebody I've heard of and reasonably sure won't scarper off with my shares

lpgm

dividendhero wrote: »

Call me paranoid, but I'd rather use somebody I've heard of and reasonably sure won't scarper off with my shares

That sounds sensible.

short_butt_sweet

dividendhero wrote: »

Call me paranoid, but I'd rather use somebody I've heard of and reasonably sure won't scarper off with my shares

that would point to using (out of the providers mentioned so far) IWeb, which (even if you haven't heard that name) is a trading name for Halifax Share Dealing, which is part of Lloyds Banking Group (the well-known high-street bank).

noh

Or Halifax Sharedealing. A name you must of heard of!
The cost of dealing is slightly more than IWeb but still zero custody fees for the sharedealing account. £12.50 pa for the ISA.
https://www.halifax.co.uk/sharedealing/our-accounts/

Alexland

I tend to stick with big names for our main investment accounts and funds. If the likes of Halifax, Fidelity, HL, Vanguard, Blackrock, HSBC, L&G or Aviva fail then the UK and/or US governments would also be in hot water. I am comfortable going over the FSCS limit with any of them as part of a low cost distributed investment strategy.

Although I expect Jarvis XO are perfectly reputable I would prefer to put the big money with a more significant market participant.

Alex

londoninvestor

Or Hargreaves Lansdown - no custody fee on shares (as opposed to funds) in an unwrapped account.

gt94sss2

dividendhero wrote: »

Call me paranoid, but I'd rather use somebody I've heard of and reasonably sure won't scarper off with my shares

Both x-o and iWeb are part of larger firms with well established records.

iWeb is part of Halifax/Lloyds and x-o is part of Jarvis Securities - I use and would recommend both

One firm I am looking at which looks interesting is https://freetrade.io/ - but its new and I haven't used it yet.