We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Sorry V - I saw your message but just forgot to reply.
A lot of people have moved away from holding paper shares now - that's the only reason I was saying about Crest settlement before - by trading online, the record of your holding is registered through your broker in a nominee account but if you prefer to have a paper certificate, you can still have that option but its more costly to trade paper certificates and more time consuming.
As I think S said yesterday, if you do some research on the various brokers out there, choose which one you would prefer to use, you can then transfer all your paper certificates to that particular broker and they will then be online - there's all the information on how to do that on the various sites.
All brokers have different scales of charges - I know Hargreaves Lansdown and perhaps others have a scale - the more you use them, the cheaper the charges become - for example if you make more than 20 trades a month, I think the charge for each transaction - ie buy/sell is reduced from something like £10.95 to £5.95 and you can make as many trades as you like with the funds in your account.
As I said yesterday, familiarise yourself with a dummy account before you take the plunge.
Good Luck.
Hi S,
Thanks for the welcome and info, it's useful!
I now have a few places to compare services and charges and see if I am comfortable to put a toe in the water!
I do have a couple of holdings in other companies ( historical - never traded! ) that I have paper certs, and Ocado are in Ocado nominee account.
Cheers, good trading!
V
Thanks for the reply T, very helpful.
When I sold some Ocado shares last year I used the service on the ocadoshares.com page which was linksharedeal.com. Their instructions and the FAQ mentioned CREST and needing it returned before settlement! { Shares wee in a nominee account if that matters? }.
I presumed people had online accounts to spend / receive money after a trade, as it seemed pretty turn around for those doing sell / buy back trades same day!!
Someone mentioned on here a cost of £5.95 a trade, makes regular / small trades worth it rather than the % charges or fixed fees £20+.
I'll look into the trading sites.
Cheers, good trading!
V
welcome aboard.
I use Interactive investors and IG, complicated reasons but three months ago I looked around at other market makers and in fact thought HL stood out as good value, this was only after they abandoned their charges for transfers. Bear in mind that you will at some point want to "transfer in" your paper shares into a market maker. All the makers allow this of course, wheather its HL, IG, Halifax etc etc. I like the "trading platform" of IG , just a big word for their website and its facilities. I have already got the paperwork to transfer my ii account to HL, although, strickly speaking the process is...open the account, then transfer shares into it either from paper shares or from another account. You could use a site like moneysaving expert to find out much more information and comparison of fees etc That's what I did. It get a little complicated in that although the all charge for a transaction (whether it be BUY or SELL), some charge a monthly or quarterly charge as well and may reduce the transaction charges for frequent traders. Depends how often you trade. I did 17 trades yesterday but that is not normal for me...monday 3, tuesday cant remember,today 4 so far. Good luck and welcome to the politest board on LSE.
High V
I can only speak for myself - perhaps S may have something to add, but I use Hargreaves lansdown for my trading. You're going a long way back talking about Crest settlement - its all an awful lot easier these days as it can all be done online and you have no need for paper transactions - if you go on any of the trading platforms websites you can apply to open accounts and a lot of them give you the chance to open "dummy" accounts which you can use to practice on until you become familiar - something that I would highly recommend you do.
You'll find with online trading its as quick as pressing the button for your transaction to be completed - just like any other online shopping really. Settlement takes place automatically then on your account for both buying and selling transactions.
Good luck with whatever you do.
Long time lurker, mainly to watch the Ocado price chart but then found this chat. Recent ( massive! ) increase in posts especially Treacle & SadAct have been VERY illuminating / helpful. Bit tempted to have a play at trading on Ocado or some low cost share to reduce risk.
I know little of share trading - old school - buy them and wait until I need the cash back to watch price!!!
So my Ocado holding was bought at initial floatation in 2010.
Who do you guys use to trade quickly and regularly - do you get payment before the CREST paperwork returned ( so can buy back quickly? What is the best cost per trade in fees/commission?? When I let some Ocado shares go last year I used their own service ( Link something )?
Thanks in advance
V