Cheap stockbroker?

Footsie_2

Yes, I have to admit I did have to work during the two years but only part time on a consultancy basis so it wasn't too bad. And, I'm sure you'll be surprised to hear, I'm very glad to be back. As much as you hear of thousands leaving the UK, I couldn't wait to get home!

gt94sss2

Footsie wrote: »

I'm actually interested in trading very frequently, potentially some deals on a daily basis. So unactivity fees won't really be an issue for me but the price per deal is...

In that case, its worth looking at the 'frequent trader' prices/tariffs that brokers charge.

For instance:

HSBC InvestDirect Plus: £6.95 (after 9 trades in the current quarter)
Selftrade: £6 (but only after 100 trades/quarter - even if some are free)
HB: £6.50 (after 20+ trades in a previous quarter)

Hence of these HSBC seems best.. even if you do need to open a free current account if you don't already have one.

You may also want to consider:

Barclays
TD Waterhouse
E-trade

who will also have frequent trader tariffs (along other brokers)

However, if you are a frequent trader, I would not go on price alone.. at the very least I would ensure that any broker you choose also offers telephone trading as well as online access.. as sometimes online platforms have problems or can't deal in the share or amount you want to trade in)

It is a good deal but I don't hold any current shares, looking to get started again. Basically went abroad for a couple of years and wouldn't have been able to access the markets for 50% of the time so sold the whole portfolio

With the Selftrade referral offer, even if you buy one holding and then sell it (total cost £25).. you still make £55 with the referral offer.. no oblibation to ever use the account again

Regards
Sunil

danbUK_2

Been reading forum a while now, first post (so please be gentle!)

I just complained to Hoodless Brennan. Letter below. I will post their response when it comes. I think this kind of sharing of experiences is just what this forum is about. Feel free to disagree though!
Dear Sir/Madam,

Re: Account xxxxx

I would like to register a complaint regarding my recent application to open an online trading account. As I have mentioned in prior communication, your "Apply online and be tradding in minutes" is particularly misleading as it was 13 days form me applying online to when you informed me that my account was now active. Compare that to Natwest Stockbrokers, a direct rival to your online business; I opened and account with them and had purchased stocks within one hour.

Further, the department for vetting applications for money laundering were especially obstructive. I sent documents to you via registered mail and enclosed instructions for where to return my documents. This was apparently an issue and it took two phone calls and an email, for the application to proceed. My reasons for wanting the documents returned to a particular address do not appear to me as relevant to my application for a trading account, yet your department informed me that a detailed explanation was required. I duly supplied an explanation which was acceptable (please see earlier correspondence).

I was much aggrieved that after holding my original driver's license and other documentation for nearly two weeks, you had not managed to return them to me so I again contacted you. Several days later, the documents arrived at an address I had not specified and did not want the documents sending to.

Given that I enclosed return details for a specific address when sending oyu my documents, and that I then gave you written explanation why I required these arrangements, and further emailed you to request them once an unreasonable length of time had transpired, I would have hoped you would have understood a single, very simple instruction.

It is not for you to question my choice of return address and it is certainly not for you to overrule my request when hadling my personal documents. I see this as a violation of business-customer relations and I request a full explanation for the events. Given the explicit and repeated nature of my request, a claim of a simple mistake will not be accepted.

I look forward to your response and I should inform you that I intend to convey my complaint and your response both to the Financial Ombudsman and to the popular financial website and forum moneysavingexpert.com.

Yours sincerely

Footsie_2

Dan,

Thanks for posting that, this is exactly the kind of feedback I was looking for. Once the account was set up did you actually use it at all or did you give up on them altogether?

RandyRos

hi
can anyone help me pls? i made a post here

http://forums.moneysavingexpert.com/showthread.html?t=789667