Can an GIA become negative?

Uriziel

I have recently done a referral on Monzo for a GIA.
Basically they have given me £10 for free to invest in their GIA. Very straightforward.
I don't really care about the money so I am just ignoring the account but my question is.. can this account actually go into the negative making me owe them money? I know that stocks cannot go negative since you can only lose what you invest and nothing more but there is also fees. What happens if they want to charge fees and my investment is not enough to cover the fee. Would they expect me to pay this?

eskbanker

If they charge a fee for a service, and you use that service, and your investments aren't enough to cover that fee, then yes, they'd expect you to pay?  I haven't researched their fee structure but would assume that anyone choosing to use them would do so....

masonic

Yes, platform fees could create a negative balance on a GIA, but it is an unlikely scenario.

flaneurs_lobster

IG Trading, for one, explain this exactly as @masonic says, platform fees may make the cash part of the GIA become negative.

DRS1

HL have a minimum cash balance presumably to cover fees.

wmb194

DRS1 said:

HL have a minimum cash balance presumably to cover fees.

Does it? I don't keep a cash balance with it.

Looks like it's a, "suggested minimum" but you can alter it:

https://www.hl.co.uk/help/income-and-fees/paying-fees/change-minimum-balance

DRS1

I haven't read all that page but I suppose you may have dividends or interest coming in monthly which could cover any fees (or maybe you have it set up so there is no monthly fee - is that possible by avoiding unit trusts perhaps)?