Which online broker do you recommend?

HenrikJonsson

I want to use my full ISA allowance and start putting money into a Mini ISA, other than just putting the £3000 into my Cash ISA.

I have been recommended selftrade.co.uk and Hargreaves Landsdown.

I would appreciate hearing recommendations from people on here on what is a good choice. I absolutely want to be able to deal online, and boring as I am at least initially I mainly intend to buy gilts as the market seems shaky right now for a beginner like me, but perhaps gradually I will venture into funds and shares.

Any tips appreciated!

debbie42

Those two seem to be regularly recommended on here. H&L more for funds and Selftrade for individual stocks and shares, because of their pricing structures.

I've used both and would recommend them.

Note: if you intend to open a Selftrade account, then check on the referrals board as you may get a bonus if you are referred. ISTR I got £50 when I opened my account, but that was a while back now.

[Deleted User]

HenrikJonsson wrote: »

I want to use my full ISA allowance and start putting money into a Mini ISA, other than just putting the £3000 into my Cash ISA.

I have been recommended selftrade.co.uk and Hargreaves Landsdown.

I would appreciate hearing recommendations from people on here on what is a good choice. I absolutely want to be able to deal online, and boring as I am at least initially I mainly intend to buy gilts as the market seems shaky right now for a beginner like me, but perhaps gradually I will venture into funds and shares.

Any tips appreciated!

Hargreaves Lansdown. Brilliant service, and very easy to use website; I'd highly recommend them. Good place for a SIPP too! :money:

gt94sss2

HenrikJonsson wrote: »

I have been recommended selftrade.co.uk and Hargreaves Landsdown.

You have already been recommended two good choices.

If you want to buy shares/gilts use Selftrade and if you want to buy funds than Hargreaves Lansdown.

As already mentioned Selftrade have a referral offer where it is possible to get £80 each for joining. them. More here - my own details are in post 282..

Regards
Sunil

Steve_xx

Halifax also operate a share dealing service. They charge £11.95 per deal if you conduct it yourself online.

http://www.halifax.co.uk/sharedealing/products/share_dealing_account.asp

There is also IWeb which charges £10 per deal.

https://share-dealing.iwebsharedealing.co.uk/sharedealing/public/SdWelcomeLogin.asp

Oddly enough, IWeb is owned by Halifax and believe that if you register with Halifax for their own service then you will actually be dealing with IWeb but it'll cost you an extra £1.95 per deal!

HenrikJonsson

Thanks for your replies everyone! :T

Is Selftrade and HL about equal in terms of comission fees when buying gilts/funds etc? I have a hard time finding accurate and comparable numbers on their respective websites!

A total of £80 referral offer makes a strong argument for Selftrade, I will do a bit of research on it and will get back concerning that for sure!

I originally wanted to register with the Debt Management Office, to buy gilts straight from them without the broker commision fee, but it seems you cannot hold them in an ISA without a broker.

beingjdc

HenrikJonsson wrote: »

Thanks for your replies everyone! :T

Is Selftrade and HL about equal in terms of comission fees when buying gilts/funds etc?

Very bluntly, HL is cheaper if you're going to buy funds, because they use their commission to reduce the impact on you of the fund's fees. Selftrade is generally cheaper if you're going to buy individual shares directly, though it depends a bit on the value per transaction.

Steve_xx

beingjdc wrote: »

Very bluntly, HL is cheaper if you're going to buy funds, because they use their commission to reduce the impact on you of the fund's fees. Selftrade is generally cheaper if you're going to buy individual shares directly, though it depends a bit on the value per transaction.

But IWeb is cheaper at £10 per trade for shares, whereas Selftrade charge £12.50 per trade.

JoseChungsDoomsday

I vote for iweb/halifax

chris1

HenrikJonsson wrote: »

A total of £80 referral offer makes a strong argument for Selftrade, I will do a bit of research on it and will get back concerning that for sure!

I was looking into this and apparently Selftrade charge a £25 annual fee! Unless you want to open a Selftrade account for the referral offer and then move it (which may cost), maybe pick a broker with no annual fee for ISAs?

HenrikJonsson

Stupidly I hadn't noticed that. Thank you very much for pointing it out. I registered with them yesterday, but have not signed my application form yet, and I will call them to cancel it tomorrow. £25 p/a is not worth it for me.