Where do II take fund trading fees from?

Aminatidi

Little confused here. Or just blind.

I have an II "Plus" subscription so it includes one free trade a month and additional fund trades should be £1.49 each.

On Friday I placed 3x sell orders for funds in my ISA.

All three have executed.

What I'm not seeing is the fees being taken for the trades.

If 1x sell order is covered by the free trade that still leaves 2x sell orders.

I'm not seeing anything anywhere that looks like £2.98 on my debit card that's registered with II or in any of the transaction history screens in the II portal.

What am I not seeing please 👀

masonic

Do you not see it deducted from your proceeds in your contract note? One should show zero fee and the other two each should show the £1.49 fee applied.

Aminatidi

Just tracked down where those are located.

Now it makes sense I think.

I sole £10,000 of each fund and £30,000 cash is now showing as the cash in the ISA.

If I look at the transaction history it shows each transaction as £10,000.

If you look at the contract notes they show 2 are taken from trading credit - which is odd as those aren't meant to carry over from previous months if you don't use them - and the third one uses £1.01 of trading credit and the remaining 48p is because £10,000.48 of funds were actually sold.

So it's a presentation thing between what the transaction history shows and what the credit note shows.

That's fine - my concern was I hadn't paid them👍🏼

phlebas192

Trading credit is £3.99 per month. So 2x £1.49 fees are 'free' and the third is £1.01 'free' and 48p chargeable against the sale proceeds.

Aminatidi

Thanks and yes I've just about figured that out now.

I was expecting a "free trade" to mean a free trade - not to mean a £3.99 credit that is actually be 2.5 trades IYSWIM 👍🏼