LLoyds Share Dealing - Am I missing something?

ChilliBob

Guys,
I've just done a 3 and 10 year comparison between LLoyds share dealing and Fidelity, iWeb and Interactive Investor. Unless I'm missing something, Lloyds, which never seems to get a mention, looks fairly compelling an option? - Especially if you intend to trade more frequently. II, on the other hand, which gets mentioned quite often, comes out pretty badly! - This is my xls, hopefully it makes sense. Basically painting three scenarios - 3 trades per year, 10 and 25, then comparing over 3 and 10 year time horizons.

I'm aware this isn't an exhaustive list - it was based on https://monevator.com/compare-uk-cheapest-online-brokers/ minus ones who'd obviously not be much cop price wise, or who charged exit fees etc. 

Let me know what you think! - As Lloyds has not been mentioned on here much (if at all recently) it makes me think I've missed something

coyrls

Have you missed the fact that Interactive Investor's £9.99 per month charge also gives you a £7.99 trading credit each month that lasts for three months and that their regular investing (monthly) offers free (buy) trades?

ChilliBob

So in effect II gives you 12 trades a year for free assuming you don't let them lapse? Cool, I knew something like that but thought it was just one trade a month free I didn't know it rolled over.
Regular investing isn't something I'd be looking into really. 
I think this would change the second and third scenarios - the first would still stand mostly as the three funds would be purchased at the start probably. It would probably mean Fidelity and II are on a par in scenario 2.  II would still be the most costly in scenario 3 I feel. 

Thanks for the feedback

coyrls

Regular investing confusingly doesn't have to mean regular investing.  You can set up buys for any particular month from cash in your account and then cancel them for the next month and set up different ones for the next month if you want or have nothing at all set for the next month.

eskbanker

Have you looked at SnowMan's spreadsheet, which set out to do much the same comparison, but across more platforms and scenarios?  Looks like it was last updated in May though, so may not reflect any significant recent platform pricing changes....

https://forums.moneysavingexpert.com/discussion/5583030/coolly-comparing-investment-platform-charges-snowmans-spreadsheet/p1

ChilliBob

I did, but do you know what? I forgot about it, it was a while ago.
Side point:
Top cashback are doing 140 on Fidelity and 120 on ii. Worth me factoring in! 

happybagger

Quidco are offering too. I had issues with tcb and closed the account

In fact last year I deposited in fidelity and somehow it tracked by quidco and I've since had cashback for a transaction that never went through them

ChilliBob

Nice. Without my spreadsheet in front of me, I still don't think it would topple Lloyds for value though.. Seems the interface is a bit... IWeb lol. 

Any views on Lloyds? 

Adyinvestment

I am surprised IG Trading is not mentioned more often on this forum as they are one of the largest and are relatively cheap.
Pricing is based quarterly
UK Shares £8 first 3 and then next month £3 going forward
US Shares £10 first 2 and then unlimited free going forward
There is a £24 custodian charge if you do not trade - this is not charged if you trade 3 times or if you have £15000 in one of their Smart Portfolio's (similar to Vanguards Life Strategy)

Incidentally if you have £15000+ in one of their Smart Portfolio's (charge 0.5% capped at £50000 then free) you can effectively hold shares with them without trading free forever. 

I am new to investing and their software and customer support has been excellent.

ChilliBob

Interesting, thanks mate I'll give them a look. I'll be investing mostly into funds and ETFS as opposed to very rarely in shares. 

[Deleted User]

I deal only in shares now; moreover mostly in US shares:- the famous brands.
So the FX rate commission is a big factor.