Stockbrokers for Investment Clubs Sep’25

Sky_Dragon

Oldhead45 said:

All going well with CFM transfer - all shared have migrated and I can see them on line in my CFM account.  There's obviously more going on but moving quicker than anticipated!

Our holdings have also now appeared at CFM, so this has been, as they suggested, about 2 weeks after account opening. I have not seen the cash we had with II transferred yet, and I'm not sure whether we're able to trade yet, or which of our members have portal access (apart from me and one of the nominated traders).

Tanatclub

Sky_Dragon said:

Oldhead45 said:

All going well with CFM transfer - all shared have migrated and I can see them on line in my CFM account.  There's obviously more going on but moving quicker than anticipated!

Our holdings have also now appeared at CFM, so this has been, as they sextra dauggested, about 2 weeks after account opening. I have not seen the cash we had with II transferred yet, and I'm not sure whether we're able to trade yet, or which of our members have portal access (apart from me and one of the nominated traders).

The cash transfer took a few days. All our members with an email address received a message to create a login to access our account. We have done a few trades and also tfd money from our bank account with no problems. So all good till now. 

ShareClubber

We are applying for an account with GHC.  They are asking for "a signed and dated copy of the Investment Club Application Pack".  We have never heard of this and GHC will not clarify what they need.  Anyone know what it is?

Driverxyz

This is from their website.

For more information, investment clubs can contact GHC Capital Markets at: investmentclubs@ghcl.co.uk

It may be that they are suffering indigestion at present and so want to delay/reduce applications.  They have been helpful up to now for us, and we made our first trades last week. They did send an Application Pack to us.

Extinctclub1

Our transfer to GHC has completed, very easy and, although their online facilities are very limited, they are very quick and helpful to respond on the telephone. Big relief to keep the club going, as non of the very few alternative brokers were acceptable to us due to fees or being one man bands.

Sky_Dragon

ShareClubber said:

We are applying for an account with GHC.  They are asking for "a signed and dated copy of the Investment Club Application Pack".  We have never heard of this and GHC will not clarify what they need.  Anyone know what it is?

We were sent an Investment Club Application Form (which they described as an Application Pack) to be signed by up to 4 authorised signatories (though we didn't complete this as we went to CFM instead).

I think I got this by completing their online "Contact Us" page - https://www.ghcl.co.uk/capitalmarkets/contact-us/

Driverxyz

Attention 

ShareClubber Posts: 5 Forumite

21 November at 2:20PM

I was speaking to GHC Capital Markets today. They are still interested in taking on new Investment Club accounts.  Phone and speak to Customer Service.  They will email you with an applications pack.

findthetruth

We have finally decided not to progress with an LLP - a number of members were unsure about the transparency and possible complications with HMRC. 

Instead, we had a pilot trial with Trading 212. First we created a pie which we shared. This was a bit of a nightmare as we didn’t want rebalancing, and it didn’t work!. So we are going to try the platform without pies, but have yet to work out the new rules. However, the idea is that each member has their own account, hopefully within an ISA, and copies the decision of the meetings.
The advantage of Trading 212 is that there are no trading costs and they do fractional shares. Obviously they make money on FX and spreads but these do seem reasonable. So, you could could start with  say £200 or £2000 - you could have the same fun!
This maybe could work- we will update you on progress-if you’re interested.
Should another broker decide to accommodate Investment Clubs, with online trading, we might revert.

poseidon1

findthetruth said:

We have finally decided not to progress with an LLP - a number of members were unsure about the transparency and possible complications with HMRC. 

Instead, we had a pilot trial with Trading 212. First we created a pie which we shared. This was a bit of a nightmare as we didn’t want rebalancing, and it didn’t work!. So we are going to try the platform without pies, but have yet to work out the new rules. However, the idea is that each member has their own account, hopefully within an ISA, and copies the decision of the meetings.
The advantage of Trading 212 is that there are no trading costs and they do fractional shares. Obviously they make money on FX and spreads but these do seem reasonable. So, you could could start with  say £200 or £2000 - you could have the same fun!
This maybe could work- we will update you on progress-if you’re interested.
Should another broker decide to accommodate Investment Clubs, with online trading, we might revert.

Good to hear wiser counsel prevailed amidst your membership concerning the viability of installing a more complex LLP structure as an alternative to the tried and tested Investment Club, merely to gain access to IBKR's trading platform.

Could have been an expensive error given enhanced LLP HMRC and Companies House annual compliance and accounting.

Mintonite

We have now successfully opened a trading account with GHC.  Very good email responses (one hour or less). The admin process was very quick and easy.  Costlier than II, but we are not too worried about that aspect.  Trading only by phone or email.