Interactive Investor

CaptainWales

Hi. I am thinking of opening an account with II - does anybody know if I can invest in individual stocks and shares, in particular Baille Gifford Scottish Mortgage, using this platform? Thanks.

masonic

Yes you can.

Ciprico

Yes you can hold SMT on Interactive Investor in ISA, SIPP or general account. 

CaptainWales

Thanks both! I see that they have a £100 credit offer on at the moment for new account openers - presumably this can be offset against the £9.99 platform fee??

masonic

CaptainWales said:

Thanks both! I see that they have a £100 credit offer on at the moment for new account openers - presumably this can be offset against the £9.99 platform fee??

I don't see that offer, but I doubt it can be used to pay the platform fee, rather it would be towards trading fees. The £9.99 platform fee also gives you £7.99 trading credit.

Ciprico

Its a bit cheeky but you can get free trades by using the the free regular monthly purchase then turning off the feature after the purchase.

Ie you set up a regular monthly purchase for one month only...

You can't time the purchase as it will be in a bulk purchase on date controlled by II but will avoid the dealing charge.
You also get one free trade per month ?

masonic

Indeed, it's a rare occasion that I pay for a trade. I use the free trades to sell holdings and the free regular investing to buy. Just need to sell the day before for the money to be available for regular investing (or before the cut-off time on the Monday for fund orders).

CaptainWales

I may have misunderstood. It says £100 free trading credits. On the basis that I'd still end up paying platform fee, presumably the free credits are just used when buying / selling shares?

Albermarle

CaptainWales said:

I may have misunderstood. It says £100 free trading credits. On the basis that I'd still end up paying platform fee, presumably the free credits are just used when buying / selling shares?

Yes .
If you are buying and selling shares regularly then your potential gains and losses will somewhat outweigh the pretty low platform fee , so I wouldn't worry about that part too much .