How can I pay less fees?

Azzzaa
Azzzaa Posts: 346 Forumite
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edited 19 June 2017 at 8:21AM in Savings & investments
I'm currently with Hargreaves Lansdown but am paying quite high commission fees, working out at nearly 23% of my overall input into the site, are there any other brokers/companies out there which have lower fees, that 23% is only buying fees, not including a percentage every time I sell!

Over time all these %'s will add up!
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Comments

  • LHW99
    LHW99 Posts: 4,198 Forumite
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    What amount do you have invested.

    HL are expensive for pots over about £30k, although that depends on what you are invested in.
    There are a number of platforms that charge a fixed fee, many of which are mentioned here.

    Interactive Investor is one, although it isn't necessarily the best for you - depends on what you need.
  • Linton
    Linton Posts: 17,120 Forumite
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    Azzzaa wrote: »
    I'm currently with Hargreaves Lansdown but am paying quite high commission fees, working out at nearly 23% of my overall input into the site, are there any other brokers/companies out there which have lower fees, that 23% is only buying fees, not including a percentage every time I sell!

    Over time all these %'s will add up!

    Are you buying shares or funds? How much at a time? If you are being charged 23% as buying fees that would suggest you are buying in very small quantities.
  • cloud_dog
    cloud_dog Posts: 6,043 Forumite
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    Ignoring if HL are the right platform for the OP, for a 23% cost to invest it sounds like the OP is investing £50???

    Of the OP is investing £50 and they are doing it monthly, why not make use of the HL Regular Savings (investing) option for £1.50.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    yep, sounds as if, with very small amounts in either case, either you are daytrading, or you are buying regular purchases. So you need to alter your strategy, whoever you use as a platform.
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    Here's a list of brokers. Sounds like you need to use one that charges a percentage of your holding, but no transaction fees.
    Eco Miser
    Saving money for well over half a century
  • cloud_dog
    cloud_dog Posts: 6,043 Forumite
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    I think the OP needs to completely re-assess their priorities and what they are trying to achieve, for example £20k loan (assuming this isn't a student loan), what is the rate on this?
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
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