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Benefits of paying more for S&S ISA
I’ve been using the comparably cheap IWeb platform for a few years and although it all works - I can buy/sell/see my account online etc from communications it just feels run by students (no disrespect to students intended).
Buy and
sell is £5 so, very cheap.
I don’t buy and sell often but the time from pressing ‘buy’ to the investments
arriving in my account can be a few days.
I just wondered what paying more for an S&S ISA provides – maybe faster buy/sell,
more stock options, some ‘extras’?
Iweb has been fine for me so far but just curious…..
Comments
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Extra analytical tools and information such as charts, discount/premium data, bid/spread data etc etc. I tend to find it on the HL website for free anyway.
They say fixed fee platforms are most cost effective for those with >£25k but if you don't deal a lot, iweb is perfect.1 -
IWeb sometimes don't carry a specific investment, sometimes for mysterious reasons. Though it is worth asking them if they can start carrying it; sometimes, they will when asked.
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but the time from pressing ‘buy’ to the investments arriving in my account can be a few days.
If you invest in a fund/OEIC there is first a delay until the funds next valuation point is reached , where the price you buy at is fixed. Depending on which fund this can take a few hours up to 36 hours , sometimes even longer.
Then there is a delay between the deal being struck and the actual settlement ( money changing hands) of two or three days .
Some platforms will show the investment in your account before the settlement date , on the assumption the settlement will take place. Also some facilitate switching between funds whilst with others I think you have to sell one fund and wait for the money to appear in your account before buying the new fund.
1 -
Okay, thanks for all input. So, analytics I generally get from Morning Star and other platforms and generally into OEIC's and all I want is available. And it seems everyone has to wait for cash to be invested, so I'm in the right place. Thanks for confirming
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