Halifax Share Dealing - best flat fee provider?
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moneyfoolish wrote: »Presumably if you transfer £15000 in from a cash ISA and hold as cash (can you do this?) and then make 12 monthly fund purchases with that £15000 that is much more expensive than just making one fund purchase with the £15000?
Yes. With iWeb it would cost 12 x £5 not just £5 so 12x as expensive.Remember the saying: if it looks too good to be true it almost certainly is.0 -
Yes. With iWeb it would cost 12 x £5 not just £5 so 12x as expensive.
This is why folks need to think about how they're going to operate the investment account in the months and years after it's open once they've made their first deposit.
A typical percentage broker at 0.25% pa, for the same £15K in 12 equal monthly transactions would cost just under £19 in year one as opposed to £60 (plus the £25 one off) in year one at iweb.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
This is why folks need to think about how they're going to operate the investment account in the months and years after it's open once they've made their first deposit.
A typical percentage broker at 0.25% pa, for the same £15K in 12 equal monthly transactions would cost just under £19 in year one as opposed to £60 (plus the £25 one off) in year one at iweb.0 -
Thanks all. Interesting about IWeb, but I think I'll probably feel more comfortable going with Halifax, even although IWeb is a bit cheaper and operated by Halifax anyway.
I intend to start with this year's ISA allocation. As long as I put the full £15,240 in the Halifax S&S ISA before 6 April, would it still all count as this year's allocation, even if I didn't move it all into funds before the deadline?
Do you need to leave a nominal amount of cash in the ISA anyway to cover the admin and trading fees?0 -
I intend to start with this year's ISA allocation. As long as I put the full £15,240 in the Halifax S&S ISA before 6 April, would it still all count as this year's allocation, even if I didn't move it all into funds before the deadline?
Do you need to leave a nominal amount of cash in the ISA anyway to cover the admin and trading fees?
It's a good idea to leave some cash in the ISA at all times. Not only for fees but occasionally you might be offered things like a rights issue. One of the problems with ISAs (unlike non ISA dealing) is that, once you've fully subscribed for the year, you can't easily just pop in some more cash to take advantage of such offers.0 -
As long as I put the full £15,240 in the Halifax S&S ISA before 6 April, would it still all count as this year's allocation, even if I didn't move it all into funds before the deadline?Do you need to leave a nominal amount of cash in the ISA anyway to cover the admin and trading fees?Eco Miser
Saving money for well over half a century0 -
Thanks all. Interesting about IWeb, but I think I'll probably feel more comfortable going with Halifax, even although IWeb is a bit cheaper and operated by Halifax anyway.
I intend to start with this year's ISA allocation. As long as I put the full £15,240 in the Halifax S&S ISA before 6 April, would it still all count as this year's allocation, even if I didn't move it all into funds before the deadline?
Do you need to leave a nominal amount of cash in the ISA anyway to cover the admin and trading fees?
I've suggested this on other threads to people who are starting S&S ISAs for the first time.
Rather than rush into a decision over choice of platform, which you may soon regret, why not open any bog standard instant access cash ISA to buy some time. Fund it with £15240, then ask your well chosen;) S&S provider to arrange the transfer of that cash on or after 6th April.0 -
I've suggested this on other threads to people who are starting S&S ISAs for the first time.
Rather than rush into a decision over choice of platform, which you may soon regret, why not open any bog standard instant access cash ISA to buy some time. Fund it with £15240, then ask your well chosen;) S&S provider to arrange the transfer of that cash on or after 6th April.
I've also got funds in other Cash ISAs that I want to transfer to a different S&S ISA and invest in Investment Trusts, when I research a bit more and establish what ITs I want. I know that I could also add them to the Halifax S&S ISA, but rather than have all my eggs on one platform, being ultra cautious I was thinking of opening them on another platform, maybe even HL as their platform fee for Investment Trusts is capped at £45. As that will be transferred ISA funds rather than new ISA funds, presumably I can still open another S&S ISA on another platform in the same tax year if I wish?0 -
Thanks, yes that is a possibility, but I think I've now made up my mind on Halifax for my VLS fund.
I've also got funds in other Cash ISAs that I want to transfer to a different S&S ISA and invest in Investment Trusts, when I research a bit more and establish what ITs I want. I know that I could also add them to the Halifax S&S ISA, but rather than have all my eggs on one platform, being ultra cautious I was thinking of opening them on another platform, maybe even HL as their platform fee for Investment Trusts is capped at £45. As that will be transferred ISA funds rather than new ISA funds, presumably I can still open another S&S ISA on another platform in the same tax year if I wish?
The rule is you can only subscribe new money to 1 S&S ISA per tax year, remember that ISA transfers are not new money. So if you were to open a new ISA for the sole purpose of facilitating a transfer from another ISA is fine and doesn't count as new money.
With regard to holding ITs with HL, this is exactly what I do (along with some shares and ETFs) and its great with the £45 capped annual charge. Trades are £11.95 each, they have a fantastic dividend re-investment program which covers all holdings (so many other platforms have a petty list of assets that are eligible for the automatic dividend reinvestment reduced charges)."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2021 - #027 £15,268 (76%)0 -
and its great with the £45 capped annual charge
Youinvest charges for shares in an ISA is 0.25% which is capped at £7.50 per quarter which is £30 per year.
Both are less than HL and their charges are calculated over the whole platform holding rather than on the individual type (ISA, unwrapped etc) that HL use.0
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