Platform for a monthly trade(s)?

beeza650

I've done a bit of research but I'm struggling to choose a trading platform for regular saving.
I have about £25K to save. Sometimes £1k a month, other times £3K. Premium bonds are full. I doesn't feel right to let the sum build in my current account then make a yearly fund (or two) purchase through iWeb (where I have 20k ISA and 45K non-ISA in Vanguard Life Strategy and HSBC Global Strategy). Buying two funds monthly in iWeb would cost £5x2(optional)x12 = £120
I see Vanguard's platform is free to trade and low fees (0.15%) - would a strategy by to let the funds build up there then sell and move them to iWeb every 12-18 months?
I know that ties me to Vanguard funds but when I do the switch I could change if I wanted to. Assume I stay in the same fund is there a spread with funds - differences in buy and sell rate - Hargreaves Lansdown's site the price is the same today?
Thanks

csgohan4

https://monevator.com/category/investing/passive-investing-investing/
is a good comparison of platform

Alexland

A little confused by your post (it is now Friday afternoon) but for the amount we are talking about I don't see why you need both HSBC GS and VLS just pick the one you like the most for each account.

beeza650 said:

Buying two funds monthly in iWeb would cost £25x2 - ouch!

£25 is the setup fee, the trades are £5 each so the monthly cost would be £10. Still at £120 pa that's a lot of money so you might want to consider Halifax Share Dealing who charge £2 for a monthly scheduled trade but have an ongoing £10.50 pa ISA account charge.

beeza650 said:

Inon-ISA in Vanguard Life Strategy and HSBC Global Strategy). Buying two funds monthly in iWeb would cost £25x2 - ouch!
I see Vanguard's platform is free to trade and low fees (0.15%) - would a strategy by to let the funds build up there then sell and move them to iWeb every 12-18 months?

Yes that's an option to do at the end of each tax year before opening another ISA for the new tax year.

https://monevator.com/cheapest-stocks-and-shares-isa-hack/

However if you want to invest in more than Vanguard funds it would then incur 2x£5 iWeb trades to sell/buy the right fund.

beeza650 said:

Assume I stay in the same fund is there a spread with funds

Depends on the fund but generally it's best to avoid switching funds where possible and invest in the right fund from the outset.

beeza650

Alexland said:

A little confused by your post (it is now Friday afternoon) but for the amount we are talking about I don't see why you need both HSBC GS and VLS just pick the one you like the most for each account.

beeza650 said:

Buying two funds monthly in iWeb would cost £25x2 - ouch!

£25 is the setup fee, the trades are £5 each so the monthly cost would be £10. Still at £120 pa that's a lot of money so you might want to consider Halifax Share Dealing who charge £2 for a monthly scheduled trade but have an ongoing £10.50 pa ISA account charge.

beeza650 said:

Inon-ISA in Vanguard Life Strategy and HSBC Global Strategy). Buying two funds monthly in iWeb would cost £25x2 - ouch!
I see Vanguard's platform is free to trade and low fees (0.15%) - would a strategy by to let the funds build up there then sell and move them to iWeb every 12-18 months?

Yes that's an option to do at the end of each tax year before opening another ISA for the following text year.

https://monevator.com/cheapest-stocks-and-shares-isa-hack/

However if you want to invest in more than Vanguard funds it would incur 2 iWeb trades to sell/buy the right fund.

beeza650 said:

Assume I stay in the same fund is there a spread with funds

Depends on the fund but generally it's best to avoid switching funds where possible and invest in the right fund from the outset.

Ooops yes £5 each - you're right it's Friday afternoon
I chose Vanguard and HSBC because they've got a bit of variation in what they invest in. No real reason other than that - it only cost an extra £5 after all. For my monthly investing - just one fund does make more sense unless it's no/very low fee.
When I mentioned spread it was with reference to the same fund.
Ah yes the link https://monevator.com/cheapest-stocks-and-shares-isa-hack/ is pretty much exactly what I was thinking of doing

Alexland

Also remember you can transfer the assets in-specie between providers to avoid time out of the market.

beeza650

Alexland said:

Also remember you can transfer the assets in-specie between providers to avoid time out of the market.

ah well that negates thee spread question - thanks