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.
As a long time holder of voda would anyone recommend a broker , I'm with Redmayne Bentley but they're completely changing their service ,I've been on a telephone execution service but now they are more than trebling fees that's after custody fees they brought in & have twice raised , sad to leave old fashioned brokers , am on a 0.25% rate but ends July 1st , have 2isas + 2 normal accounts (husband/wife) total value around 1mil , i need abit of service as not up on too much tech so any advice would be much appreciated, i dont trade v much as v long term investor & wish to avoid large custodial fees
DorsetAG. I use this broker london sth east. When you come on this chat, click on trading top far right. They charge 9.99. per deal flat rate, no custodial charges for a normal dealing account or for an I.S.A...If you give them a phone call they will help you transfer to them. I have saved a lot of money over the years as a long term holder, mainy from the free I.S.A.
I don't know if you can transfer £1 million, but If you can,at 0.25% that is a saving of £2.500 a year. Unless I got my maths wrong? Worth having a look.
Good evening Dorset , used iweb for years no issues, 5£ per trade uk shares , isas accounts, US and Euro trades 1.5 % best of all no minimum charge, I think there's a special offer still no signing up fee at mo , but lse are very good
Hargreaves lansdown is very good maybe not cheapest but deal in all trades £11.95 or £5.95 for more than 10 a month. worth checking out been good for me. https://www.hl.co.uk/
I is wiv plucket pickit and tucket but I hasn't dune many trayds sinse seling vodefone at £1.25
I jus hangs rownd hear for the laffs mainly.
My mayte Toerag have fouwd a broke er thate don't charge stamp dutey, I will try too fynd there name.
One key point in my mind. Risk of loss. Don’t forget you only have limited cover under each provider. Therefore IMHO a few pounds here or there is irrelevant. For large investments and to sleep easy use a broker of sufficient size to weather any type of further financial crash. You will pay extra for a larger broker but it is worth it IMHO.
Good luck.
Posting as something of a rate tart as from time to time some brokers offer incentives to switch…admittedly, the lead upto the end of the tax year seems to be peak season so perhaps a pity Redmayne didn’t advise sooner about their increases as with portfolios of c.£1m, incentives would be, imo, meaningful.
I’m only in UK listed shares (usually FTSE350) rather than overseas or funds so I’ve only ever considered that in my calculations of cost effectiveness.
Most recently, I have taken advantage of Interactive Investor incentive for my main ISA as they charge a flat fee and trading fees £3.99 vs my previous broker (Barclays Smart Investor) which was a %age and £6 per trade. I would add that the switching incentive from SI last year still made the switch cost effective (from HL).II also offer family / bundle deals as standard which could improve the economics for you and your wife.
My main GIA is going back to HL as their latest incentive stacked up for my circumstances as I don’t think I will deal very often in it (£11.95 per trade is relatively high in my view) but there is no platform / portfolio fee whereas SI charges that %age.
I also use a T212 account as wishing to experiment with trading more often on some shares (though am not sure if I am actually suited to that style as I seem to buy more often than sell) as it is platform and commission free so smaller trades are not having to cover any fees - just the stamp.
Haven’t really had a concerted looked at the research features on each platform (am not a chartist and it’s a foreign language to me). II certainly send out a lot of emails with links to a lot of articles.
Anecdotally based in comments on various boards, think SI typically takes longer to put dividends in your account vs II (and other brokers). Across the platforms I have used, I have found dealing and their ease of use much of a muchness between them but I wonder if T212 does sometimes not get the best price in the market (have seen one limit order not transacted when according to the day range it should have completed).
Depending on cash levels in your account, do consider interest rates paid - not checked recent rates but HL were highlighted as being poor in that respect. Don’t know if they have changed since then.
I also agree with the comment from Discus1 about broker counterparty risk.
The last point I make for now is that having accounts across a few platforms, I have to run my own spreadsheet to analyse share performance and acquisition costs when it comes to S109 holdings / CGT. However, probably appeals to my inner nerd and I have the time to do so.
Regarding risk of loss under financial crash.
As far as I understand there is no risk of loss with holding stocks like there is with cash.
Stocks are ring fenced and will never be used to pay creditors. So in theory, there should be no risk with using smaller provider. The only exception is holding cash - thats protected up to 85k by FSCS.