Halifax Share Dealing - Alternate Platform

fretwej

I own only 3 different shares on this platform and trade approximately 2-4 times per year. Also none of these shares are held in ISAs. The new pricing structure at HSD is going to hit me hard, especially the annual fee. Can anyone suggest an alternate platform where I can transfer my stocks to automatically, at minimal cost, and similar minimal costs for very few, or even no trades, in a calendar year.

Alexland

Jarvis X-O with no ongoing charge and £5.95 per trade

https://www.x-o.co.uk/nominee-account.html

Email them in advance to check they can transfer the shares you own.

It's nice that HSD delayed the annual fee until April 2022 to give a year to transfer.

fretwej

Thanks Alexland, looks promising and website suggests transfers in are OK. Agree that Halifax have been good in allowing over a year to decide but thought I'd start getting word of mouth recommendations ASAP. Thanks again. 

jimjames

Have you looked whether iWeb is any better price wise?

Alexland

jimjames said:

Have you looked whether iWeb is any better price wise?

They would be 95p per trade cheaper but I didn't mention them as I figured it would take over 30 years to recover the £100 setup fee at only 2-4 trades per year and that's before considering the cost of money.

Tarian

Alexland said:

Jarvis X-O with no ongoing charge and £5.95 per trade

https://www.x-o.co.uk/nominee-account.html

Email them in advance to check they can transfer the shares you own.

It's nice that HSD delayed the annual fee until April 2022 to give a year to transfer.

Unfortunately this omits the exit charge of £50 if one closes the X-O account.
I think this is relevant as iWeb's £100 set-up fee was mentioned.

I have another Jarvis account - ShareDeal Active (opened before X-O was launched).
That has a £15 fee for withdrawing cash (not that I've ever done that). The fees sheet at X-O is silent on cash withdrawal.

I believe X-O uses the same platform for dealing and portfolio viewing.
IMO it's OK. It's slightly quicker to enter a trade than another site's account I have.
At the point of setting up a trade it shows a live price - which you can then reverse out of without trading. This overcomes the 15 minute price delay at 99.9%# of free share price sites.
(# I haven't found a free site for  live share prices !)
The Portfolio page is clear - showing the Share, its stock code, original cost of a position, latest price and current value.

This "review" doesn't mean I wouldn't consider FreeTrade .... if it had a Desktop interface rather than mobile phone .....

Alexland

Tarian said:

Unfortunately this omits the exit charge of £50 if one closes the X-O account.

I always mention the £50+vat exit fee when relevant but it only applies to ISA/JISA accounts and the OP had already confirmed these are not ISAs.

Tarian said:
I have another Jarvis account - ShareDeal Active (opened before X-O was launched).

That has a £15 fee for withdrawing cash (not that I've ever done that). The fees sheet at X-O is silent on cash withdrawal.

In which case they have no right to charge it and don't as you are again talking about a different product with different charges.

Tarian said:

This "review" doesn't mean I wouldn't consider FreeTrade .... if it had a Desktop interface rather than mobile phone .....

My main concern would be if Freetrade can build a viable business at that price point while also treating the customer fairly and delivering a good service quality. It's very inconvenient if a platform goes bust or unresponsive.

pafpcg

Alexland said:

Tarian said:
I have another Jarvis account - ShareDeal Active (opened before X-O was launched).

That has a £15 fee for withdrawing cash (not that I've ever done that). The fees sheet at X-O is silent on cash withdrawal.

In which case they have no right to charge it and don't as you are again talking about a different product with different charges.

I can confirm that there are no charges for cash withdrawals from the Jarvis X-O share dealing account.  I've made several, including one earlier this week, with no charges. 

I've found the X-O account to be basic but effective.  For my needs, buy-and-hold with a low volume of trades, I've been entirely satisfied.  Jarvis also allow joint accounts with full on-line trading - something that seems difficult to find elsewhere.  The X-O account does though have its idiosyncracies - it hides contract notes in the "Documents" section under "Help and Administration" and not in "Trading History"!

fretwej

Thanks all for your advice. I am in no immediate rush to close down my Halifax account but all advice now and in the future is welcome before April 22. Will look further into the Jarvis X-O Account but also currently considering Hargreaves Lansdown as a simple share dealing platform, not an ISA. Any thoughts on HL welcome. Thanks.

_theinsider

Have a google for the monevator broker comparison table. It might help you work work out the cheapest platform for your situation. 

Alexland

fretwej said:

Will look further into the Jarvis X-O Account but also currently considering Hargreaves Lansdown as a simple share dealing platform, not an ISA. Any thoughts on HL welcome.

HL will be more expensive than Jarvis X-O for adhoc trades but cheaper for dividend reinvestment or where they offer regular direct debit contributions on certain shares.