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ISA - Stocks and Shares
Options
Comments
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What about Hargreaves Lansdown, Wealthify and Moneybox any thoughts on using them?My Signature is MY OWN!!0
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slenderkitten said:What about Hargreaves Lansdown, Wealthify and Moneybox any thoughts on using them?Have you ruled out AJ Bell and ii (Interactive Investor) ?Mortgage free
Vocational freedom has arrived0 -
slenderkitten said:Petriix said:Knowing nothing about buying shares, I've just opened a Stocks and Shares ISA with Trading 212. I got a free random share worth £44 by using a referral link. They give 1% cashback (which you can't withdraw for a year) on any ISA deposits and pay 5.2% variable interest on anything held as cash. They also seem to charge no commission on any trades.
I'm sure more experienced people can tell you the potential down sides, but this seems pretty decent in comparison to other platforms.
They will lose money gaining market share, and then either start to introduce charges for premium service, or get bought out for the customer base. ( especially if they still losing money after a couple of years)
Also they have a larger part of their business which is trading in CFD's. This is more profitable and much more risky for the punter ( it is just gambling really).
I suspect by getting customers for ISA's, they hope to tempt then into the CFD side.1 -
sheslookinhot said:slenderkitten said:What about Hargreaves Lansdown, Wealthify and Moneybox any thoughts on using them?Have you ruled out AJ Bell and ii (Interactive Investor) ?
I would like to know where i should open a Stocks and Shares ISA account, what company is good, has a good reputation, good customer service, cheapest fees etc all the usual questions I suppose from a complete newbie to all this!
As it stands I would use Halifax as that is who I bank with and that is all I know but I would consider going elsewhere if people could help me out here with my questions and what I should know apart from the risk.My Signature is MY OWN!!0 -
Albermarle said:slenderkitten said:Petriix said:Knowing nothing about buying shares, I've just opened a Stocks and Shares ISA with Trading 212. I got a free random share worth £44 by using a referral link. They give 1% cashback (which you can't withdraw for a year) on any ISA deposits and pay 5.2% variable interest on anything held as cash. They also seem to charge no commission on any trades.
I'm sure more experienced people can tell you the potential down sides, but this seems pretty decent in comparison to other platforms.
They will lose money gaining market share, and then either start to introduce charges for premium service, or get bought out for the customer base. ( especially if they still losing money after a couple of years)
Also they have a larger part of their business which is trading in CFD's. This is more profitable and much more risky for the punter ( it is just gambling really).
I suspect by getting customers for ISA's, they hope to tempt then into the CFD side.My Signature is MY OWN!!0 -
slenderkitten said:Petriix said:Knowing nothing about buying shares, I've just opened a Stocks and Shares ISA with Trading 212. I got a free random share worth £44 by using a referral link. They give 1% cashback (which you can't withdraw for a year) on any ISA deposits and pay 5.2% variable interest on anything held as cash. They also seem to charge no commission on any trades.
I'm sure more experienced people can tell you the potential down sides, but this seems pretty decent in comparison to other platforms.
I've only put in £10 of my own money so far but with a few referrals I've got £90 worth of shares. I'll probably buy some more once I'm comfortable with the way it all works but it's super easy. I'd recommend giving it a look, if only for the free shares.0 -
slenderkitten said:Albermarle said:slenderkitten said:Petriix said:Knowing nothing about buying shares, I've just opened a Stocks and Shares ISA with Trading 212. I got a free random share worth £44 by using a referral link. They give 1% cashback (which you can't withdraw for a year) on any ISA deposits and pay 5.2% variable interest on anything held as cash. They also seem to charge no commission on any trades.
I'm sure more experienced people can tell you the potential down sides, but this seems pretty decent in comparison to other platforms.
They will lose money gaining market share, and then either start to introduce charges for premium service, or get bought out for the customer base. ( especially if they still losing money after a couple of years)
Also they have a larger part of their business which is trading in CFD's. This is more profitable and much more risky for the punter ( it is just gambling really).
I suspect by getting customers for ISA's, they hope to tempt then into the CFD side.Remember the saying: if it looks too good to be true it almost certainly is.1 -
As a starting point, you could take a look at Moneyfacts Compare...then do LOTS of reading. What Is An Investment Platform? How Do They Work? (moneyfactscompare.co.uk)
Depending on how much you are looking to invest each month, you'll probably want a platform that doesn't charge 'per trade' but as a % of your holdings.
HOWEVER, choosing a platform to hold your S&S ISA with is only the first step. You then need to decide what funds/shares etc to buy via your chosen platform. That is the even harder part. What are your attitudes to risk? What are your timescales?
It may be that investing isn't for you, just yet. As they say "don't invest in what you don't understand". So maybe research, research, research, until you have a better understanding. Or consult an IFA. Until then, stay in cash.
Ask yourself, would you be comfortable, if your investment lost, say 50% of its value, just at the point you needed to cash in to spend? Whether this be in 5, 10 or 15 years time. Could you sit it out for a few more years until prices recover?
At the end of the day we CANNOT GIVE INVESTMENT ADVICE, as that is a regulated activity, so the best we can really do is point you in the right direction of where to start.
How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)1 -
Here are a couple of good videos comparing all of the S&S ISA providers:
https://www.youtube.com/watch?v=1UM4oaZpLaY
https://www.youtube.com/watch?v=x6WYqTE4Ed4
I use Invest Engine myself and would highly recommend them. For 99% of people, I think Invest Engine or Trading 212 are the perfect choice as they have a good selection and no fees. Just pick a market weight index fund with low fees and you can't go too far wrong. I found this video helpful in picking a fund:https://www.youtube.com/watch?v=k1BHFCHpae8
Hargreaves Lansdown, interactive investor, AJ Bell etc are more specialised which most people just don't need, and the high fees can be very detrimental.2 -
Thanks i'll look at the videos, I think I would only spend a small amount to begin with to get used to it and understand it. Do the accounts allow you to pick your own or do you have someone do it for you (i would imagine the latter option would have more fees associated with it)?My Signature is MY OWN!!0
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