Iweb

eskbanker

CaptainWales said:

As I understand no account opening fee (£100) if I open account before the end of the year and no admin fee. My question is if I don't do any trades throughout the year, will I get charged anything? Seems a bit too good to be true...

No ongoing charges, just transactional ones, so no trading equals no cost.

wmb194

CaptainWales said:

I am looking to transfer from II to IWeb myself. I have an ISA account and a general trading account with II currently, and checked and IWeb would take all the funds. 

As I understand no account opening fee (£100) if I open account before the end of the year and no admin fee. My question is if I don't do any trades throughout the year, will I get charged anything? Seems a bit too good to be true...

Correct, no charges if you make no trades. It is true. Apart from being part of Lloyds, in its last published set of accounts Halifax Share Dealing itself earned a net profit of £22m so all things equal it should be able to afford it.

https://find-and-update.company-information.service.gov.uk/company/03195646/filing-history

Rollinghome

CaptainWales said:

I am looking to transfer from II to IWeb myself. I have an ISA account and a general trading account with II currently, and checked and IWeb would take all the funds. 

As I understand no account opening fee (£100) if I open account before the end of the year and no admin fee. My question is if I don't do any trades throughout the year, will I get charged anything? Seems a bit too good to be true...

The only charges I know of are the £5 dealing for buys and sells, 1.5% FX charge for non-sterling trades, a highish dividend re-investment fee of 2%, max £5,and, in some circumstances, a £2 fee for using Tradeplan (limit orders etc.) in the share-dealing account. It doesn't apply to trades within an ISA or SIPP and only applies in a Share-dealing account if it doesn't result in a trade before expiring. There are no transfer-out charges if you don't like it.

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

When I opened my account about 12 years ago I don't remember any of the other ultra cheap platforms being around then, and it sounded too good to be true to me too. Had to phone to ask what I'd missed.  My only regret has been that I was tempted to keep one of my ISAs with HL because they offered me a discount.  Should have moved that too. I've tried HL, Charles Stanley, Fidelity and quite a few other brokers/platforms but have stuck with Iweb. It cost me a £25 initial fee back then, so an even better bargain now.

Because it's a simple site with no fancy scripts etc. but with everything I need, it's fast and generally reliable. Doesn't have the frequent hiccups and features not working for months on end like HL, which badly needs a full update. 

The only mild irritation for me (if they're listening) is when they do routine maintenance for a few hours on a Saturday morning without prior notification. That apart, it's excellent with extremely helpful CS staff.

jimjames

eskbanker said:

CaptainWales said:

As I understand no account opening fee (£100) if I open account before the end of the year and no admin fee. My question is if I don't do any trades throughout the year, will I get charged anything? Seems a bit too good to be true...

No ongoing charges, just transactional ones, so no trading equals no cost.

Definite incentives for trading less! Good to be able to control costs in that way

masonic

It's also a good incentive to prune the number of holdings. This will also save on CSD's archaic transfer out fees, and can be done (for the funds at least) at no cost prior to transferring.