Platforms- Is there a max single investment amount per transaction?

TBC15

naedanger said:

TBC15 said:

One thing worth considering is transaction charges. Do II still charge a premium on trades above £100,000? I’ve looked on the web site and can’t find any reference to it now.

I was charged £40 "Commission" on each of two recent transactions over £100,000.

See under "other trade commission" on the following page:
https://www.ii.co.uk/our-charges


I don't know what this commission is for, or who gets it.

Nicely hidden and a bit of a swizz as with foreknowledge you can split the trade into sub £100,000 trades.

naedanger

TBC15 said:

naedanger said:

TBC15 said:

One thing worth considering is transaction charges. Do II still charge a premium on trades above £100,000? I’ve looked on the web site and can’t find any reference to it now.

I was charged £40 "Commission" on each of two recent transactions over £100,000.

See under "other trade commission" on the following page:
https://www.ii.co.uk/our-charges


I don't know what this commission is for, or who gets it.

Nicely hidden and a bit of a swizz as with foreknowledge you can split the trade into sub £100,000 trades.

Agree it was well hidden.

I must admit I didn't think of splitting it into multiple trades at the same time (and which would have got the exact same price because it was unit trusts I was buying). If there is a next time I will know better.

Rollinghome

Ash_Pole said:

You might have trouble getting the order fulfilled. Recently I tried to invest 10k into Murray International IT with iWeb but they couldn't deal at the online price as it was too big for them. 

That would be due to an MM stock shortage, not to any reluctance at IWeb to take your money.  If you try again later or the next day it's quite likely there won't be a problem - other than with a very illiquid stock, not MYI.  Most people don't like just placing an order for the broker to negotiate.

Except in rare circumstances, I rarely make a huge buy, or a huge sell, all at once and prefer to do it in stages.  It ruins my day to find a big investment's taken a huge drop the day after I bought in.  With a fund where I don't know the price I'm paying, I'd be very uncomfortable unless volatility was seriously low.  But then we all have our preferences.

Linton

People seem to be mixing stock market investments with funds. Shares such as ITs may be difficult to buy in very large amounts especially at the start of the day simply because there arent enough people selling.  This is nothing to do with the particular platform but rather the operation of the market as a whole.

Open ended funds (OEICs/UTs) are different.  Any but the smallest funds should be able to buy and sell in the sort of amounts that a private investor would require.

Ash_Pole

soulsaver said:

Ash_Pole said:

You might have trouble getting the order fulfilled. Recently I tried to invest 10k into Murray International IT with iWeb but they couldn't deal at the online price as it was too big for them. 

I've invested more than twice that with Murray ITs with IWeb on line in single transactions.

I must admit I was surprised. I left it and submitted the same order the next day, fortunately the price had fallen slightly and this time it was executed immediately.