Trading Platform Fees

bkp

Hello All

I have an interactive investor (ii) account which in short am not using. 

My share portfolio is doing badly and I have no intentions to trade for some time. I am being charged £9.99 a month, which perhaps isn't a lot when I look at my portfolio losses, but still could do without it!

Was wondering if anyone is aware of any cheaper options/ideas, or if i could simply hold these shares (all FTSE apart from Verizon shares on NYSE) outside of an online platform. I don't see myself trading or needing to cash the shareholdings over say next 5 years.

Thanks

[Deleted User]

If it were me I would look at using iWeb - £25 to open and then that should be it. 

DireEmblem

Good el cheapo Trading212, and get a free share while you're at it.

ElephantBoy57

bkp said:

I am being charged £9.99 a month, which perhaps isn't a lot when I look at my portfolio losses, but still could do without it!

From their web site - 1 free trade per month. We give you back £7.99 credit every month to buy or sell any investment**.

I am with Hargreaves Lansdown, happy not to be the cheapest for now.

https://www.ii.co.uk/acq/keep-more?gclid=Cj0KCQjwt4X8BRCPARIsABmcnOoqd2x51jxX6SA3CiiWzQ-b9HLIaYAvCWLA3Ou-AFZvsSSIp4DWdIIaAuxBEALw_wcB

EthicsGradient

If this is outside an ISA, then Halifax (same company as iWeb, with higher trading charges if you want to choose the time, but slightly cheaper on one day a month, and no set up fee) is an alternative. Again, if outside an ISA, Hargreaves Lansdown is cheap to hold if your portfolio is all shares (including ETFs and investment trusts) - no ongoing fees, same as Halifax and iWeb, and no set-up fee. They do charge ongoing fees for OIECs, though.

If you are outside an ISA, and haven't used your allowance on a cash ISA, you might consider transferring the money into one, though that would mean selling the shares, putting it in as money, and repurchasing.

bkp

Hello All
Some great ideas here - many thanks. I have a mix (both in ISA's and outside)... noted my wife also has an ii account, with situation as me! (not trading / portfolio doing bad / in and out of ISA's / just shares etc).
Will do a bit more research and may head back here.
thanks again.

Joe450

Try Comparefundplatforms.com

[Deleted User]

Or even better download the xls from these forums
https://forums.moneysavingexpert.com/discussion/5583030/coolly-comparing-investment-platform-charges-snowmans-spreadsheet/p1

Alexland

bkp said:

My share portfolio is doing badly and I have no intentions to trade for some time.

...

my wife also has an ii account, with situation as me! (not trading / portfolio doing bad / in and out of ISA's / just shares etc).

I would start by having a good think about your investment strategy as it may affect your platform choice. I have tried individual stock picking a few times in my life and overall it's not been as successful or predictable as simply following the market with tracker funds and managing risk with asset allocation.

Alex

Steve182

As I'm sure you are aware II charge a flat fee regardless of whether you have investments of £1,000 or £10,000,000
So whether their fees are competitive or not will depend entirely on how much you have invested.