Are iweb really that bad?!

Aylesbury_Duck

Another positive iWeb experience to report here.  Thanks to advice from someone on here a while ago, I moved a balance across from Vanguard into iWeb and now drip-feed my annual £20k allowance into my Vanguard ISA during the year, then dump it into iWeb and start over.  The £25 opening fee (I'm aware it's since risen) and zero platform fee make it a great "set and forget" option that complements Vanguard's zero transaction fees.

Alexland

Aylesbury_Duck said:

to advice from someone on here a while ago, I moved a balance across from Vanguard into iWeb and now drip-feed my annual £20k allowance into my Vanguard ISA during the year, then dump it into iWeb and start over.

Aah yes my Alex Manoeuvre - their transfer departments must hate you for being so sneaky.
https://monevator.com/cheapest-stocks-and-shares-isa-hack/
Please let us know how many times you can do it before they get angry.

DiamondLil

I'm another who likes IWeb - no frills, easy to navigate and easy to trade. I don't trade often, but when I have it's been smooth and trouble free.

benbay001

Another very happy iWeb customer here.

Ive transferred away recently because i want access to more markets, but they have been fantastic and very cheap!

jimjames

Deleted_User said:

IWeb is a great product, but there is very little to say about it. It's very cheap (for people investing large amounts who rarely modify their portfolios). That's it. It must be quite frustrating for finanical journalists who need to come up with something (at least superficially) new to say.

OTOH, IWeb should be a perfect fit for something called "Boring Money"

That's a great last line! I've been with iWeb for over 5 years now and very happy with them. If you are making minimal changes to your portfolio and have a decent amount invested then I think you'll struggle to find a cheaper place to hold.

Interesting that on this thread a number of posts are from those who have been with iWeb for a number of years and have very good experiences which is probably more important than a blogger that's not used them.

And to answer the original question, no iWeb are not that bad at all.

suesmith234

I use Iweb. Purchased a tranche of £40k shares last October and paid about a 1% spread. 

Read their Trust Pilot reviews. Shocking.

colsten

I have been a very happy iWeb customer for many years. On April 7 this year, they had a hickup with their debit card deposit system. My deposit was not available for trading for a total of 2 hours - such an upsetting experience [not].

Their user interface is simple - some would say basic - but it lets you do everything you need to do. No fancy bells and whistles are needed. There's no Marketing hype like you get with many others. I buy a limited number of funds, often just one a year, and usually just trade once a year, at the start of a tax year. iWeb is absolutely ideal for my needs. 

Alexland

suesmith234 said:

I use Iweb. Purchased a tranche of £40k shares last October and paid about a 1% spread. 

Unsure if you are saying this spread was good or bad for the liquidity of the shares you were buying?

masonic

suesmith234 said:

Read their Trust Pilot reviews. Shocking.

If you want a balanced view about how good/bad a company is, Trustpilot is about the worst place you could go.

Here's an example of a recent (and frankly ridiculous) one star review left by someone about iWeb:

"I wrote to the Managing Director of iWeb, Mr Pardavila-Gonzalez in early March 2021. I had paid the one-off £100 up-front fund-management fee and I was interested to know what would happen in the event that iWeb was sold off or divested. How would, for example, iWeb ensure that I would continue to receive 'a free fund management' service from a new fund manager?
I have neither received a reply nor an acknowledgment. Not good enough, Mr Pardavila-Gonzalez "

Don't you just hate it when one of the directors of a major investment platform doesn't give you a personal response to a question that seems to come from a fundamental misunderstanding and false sense of entitlement.

On the other hand, genuinely terrible companies can pay for a good Trustpilot rating, essentially by burying any negative feedback with volumes of invited and incentivised positive reviews. I actually find it reassuring that iWeb doesn't play these games.

suesmith234

Alexland said:

suesmith234 said:

I use Iweb. Purchased a tranche of £40k shares last October and paid about a 1% spread. 

Unsure if you are saying this spread was good or bad for the liquidity of the shares you were buying?

LOL.

It was BP.