Per trade fees - do they apply to expired limit orders?

InvesterJones

I can't seem to find the information in the charges T&Cs at brokers like iWeb and Fidelity - but say I place a limit order which expires at close of day without being filled, does anyone know if I'd still be charged the dealing fee? On one hand I've given an instruction, so I could be, but on the other, I've not actually made a trade, so if it's a trading fee I'm not sure!

wmb194

InvesterJones said:

I can't seem to find the information in the charges T&Cs at brokers like iWeb and Fidelity - but say I place a limit order which expires at close of day without being filled, does anyone know if I'd still be charged the dealing fee? On one hand I've given an instruction, so I could be, but on the other, I've not actually made a trade, so if it's a trading fee I'm not sure!

Brokers don't usually charge to set-up or pay for expired limit orders but iWeb is one of the exceptions. It charges you £2 to set one up and then, if it executes, it will count this £2 towards the £5 commission and just charge you another £3.

https://www.iweb-sharedealing.co.uk/charges.html

george4064

HL and AJ Bell, you can setup limit orders/stop losses at no cost and you only get charged if they are triggered and a trade placed in the market.

Nebulous2

I've been using them with Fidelity, and only pay the (£10) dealing fee if it is filled. 

masonic

wmb194 said:

InvesterJones said:

I can't seem to find the information in the charges T&Cs at brokers like iWeb and Fidelity - but say I place a limit order which expires at close of day without being filled, does anyone know if I'd still be charged the dealing fee? On one hand I've given an instruction, so I could be, but on the other, I've not actually made a trade, so if it's a trading fee I'm not sure!

Brokers don't usually charge to set-up or pay for expired limit orders but iWeb is one of the exceptions. It charges you £2 to set one up and then, if it executes, it will count this £2 towards the £5 commission and just charge you another £3.

Well every day is a school day. I hadn't appreciated that the TradePlan fee was effectively a non-refundable deposit towards the usual trading fee. Just saw the extra fee and that put me off ever setting one up!

ChilliBob

Good to know! I've done them but I guess if must have been with II and Fidelity. Could have sworn I'd don't them eith Iweb at no cost though! Either I'm wrong (likely!) or it's changed recently 

InvesterJones

ChilliBob said:

Good to know! I've done them but I guess if must have been with II and Fidelity. Could have sworn I'd don't them eith Iweb at no cost though! Either I'm wrong (likely!) or it's changed recently 

From the screenshot it looks like it's only for shares held outside of an ISA or SIPP wrapper so maybe you were inside those?

wmb194

ChilliBob said:

Good to know! I've done them but I guess if must have been with II and Fidelity. Could have sworn I'd don't them eith Iweb at no cost though! Either I'm wrong (likely!) or it's changed recently 

I opened my account in 2017 and it was the same then. If the order executed then you might not have noticed.

cwep2

I've used tradeplans with iWeb loads. I get charged £5 on execution but I look at my cash balances fairly closely and have never been charged £2 for an expired unexecuted tradeplan. This is inside an ISA wrapper, maybe T&Cs are different for GIA.

wmb194

cwep2 said:

I've used tradeplans with iWeb loads. I get charged £5 on execution but I look at my cash balances fairly closely and have never been charged £2 for an expired unexecuted tradeplan. This is inside an ISA wrapper, maybe T&Cs are different for GIA.

Yes, looking at my screenshot above, I now notice that this fee doesn't apply to Isas or Sipps. Useful to know - I assumed the fees were the same as for the GIA.