Regular investment into ETCs with no charges?

hallmark

It looks like II does this free of charge and offers the funds I'm interested in so probably choose them.

ColdIron

hallmark said:

ColdIron said:

What tax wrapper did you have in mind?

Just a trading account in this instance, not an ISA or SIPP.

HL's unwrapped Fund & Share account has no custody charges for ETFs and £1.50 dealing fee. iShares Physical Metals plc Physical Gold ETC (SGLN) is on it's list of allowable monthly investments

Nebulous2

Deleted_User said:

Nebulous2 said:

Albermarle said:

hallmark said:

Does anybody know if any platform offers regular investment into ETCs (for example Ishares Physical gold or silver) with no or low fees?  Thanks

HL and Fidelity only charge £1.50 per investment for a regular monthly investor into ETF's AFAIK . Probably others as well.

Thanks I didn't know that - I pay £400 a month into my Fidelity SIPP, with £100 of tax relief being added.  I just tried to set up a monthly regular purchase of £500 worth of ETFs. The only option I could find was where they split it in two and invest £400 immediately then a further £100 once the tax relief comes through. That cost £3.00 as two separate transactions. I've several thousand in cash in the SIPP, so should be able to pay the £500 at once with a single £1.50 fee. 

I've messaged to ask how to do it....  

AFAICR, Fidelity's regular purchases are inflexible, i.e. they can only be used to invest cash added by direct debit, not any other spare cash in your account. Worth asking them, though ... hopefully, it will turn out that I'm mistaken and you can do what you want.

HL are also inflexible; with a slight difference from Fidelity, that if you pay £400 into a SIPP and have it automatically invested in an ETF, the £100 tax relief is not automatically invested (instead of investing it and charging you another £1.50).

AJ Bell, Halifax Share Dealing, and Interactive Investor all have flexible regular investment schemes - i.e. they can invest any free cash in your account.

Flexibility won't matter very much for a trading account, though, unlike for a SIPP, because you can just withdraw any spare cash from the account and re-add it via a DD if necessary.

I've had confirmation from them that a regular investment has to come from new money and can't come from cash in my account. No way to invest my £500 for £1.50 a month then..... 

hallmark

Deleted_User said:

hallmark said:

It looks like II does this free of charge and offers the funds I'm interested in so probably choose them.

Does that take into account II's fixed charges (which they call a "subscription") of £9.99 per month?

To clarify, I already have a S&S ISA with II, and they automatically create a trading account I'd never used so it's free in the sense no purchase fees or extra fees.