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Compare the UK’s cheapest online brokers

Last updated on 22 July 2018.

Behold! An at-a-glance cost comparison of the UK’s main online brokers and investment platforms. These services enable you to buy, manage, and sell your funds, shares, investment trusts and ETFs at a cheap price. All these services are online and execution-only.

The Good for column shows what we think is the best deal by price, relative to account type and portfolio mix.1

This table is edited by fallible human beings. Do your own research. We fix mistakes as soon as possible but we cannot be held liable or accountable for any errors. Please add updates or erratas in the comments below.

Like other price comparison websites, we may be paid a bonus if you sign-up via a link. This does not affect what you pay.

Hate maths? Let our comparison tool do the sums for you.

Flat fee brokers / platforms

Company Annual platform fee Fee notes Dealing: Funds Dealing: ETFs, ITs, & shares Regular investing Entry fee Exit fee2 Good for
Interactive Investor3    £90 £22.50 worth of free trades every quarter £10* £10* £1 £0 if account open less than a year. £10 per holding otherwise.  Min £30/Max £250
Shares ISA
Trading  –
SIPP + £120 + £120 in drawdown + £90 Fund portfolios over £84K, mixed ETF/fund portfolios over £68K4
ShareDeal Active Telephone dealing only for funds £9.50 £9.50 £12 per holding + £60 account closure
Shares ISA £60 £18 cash withdrawal
Trading £18 cash withdrawal
SIPP £118.80 No fee for first year. + £180 in drawdown
Halifax Share Dealing £12.50 £12.50 £2
Shares ISA £12.50 £25 per holding. £125 max Alternative to Lloyds, Selftrade
Trading £25 per holding. £125 max Alternative to Lloyds, Share Centre, Selftrade
SIPP £90 if SIPP worth less than £50K. £180 if SIPP more than £50K + £180 in drawdown5 £60 per transfer. Max £300 £25 per holding (£215 max) +£90
iWeb £25 one-off account opening charge Does not apply to SIPP £5 £5 Large portfolios and infrequent traders, check vs ii, Lloyds, Share Centre, and Halifax
Shares ISA £25 per holding. £125 max
Trading £25 per holding. £125 max
SIPP £90 if SIPP worth less than £50K. £180 if SIPP more than £50K + £180 in drawdown6 £60 per transfer. Max £300 £25 per holding (£215 max) +£90
Lloyds Bank Share Dealing £40 Only one £40 charge if you hold ISA and trading account £1.50 £11* £1.50 £25 per holding. £125 max
Shares ISA Fund portfolios over £26K7, unrestricted mixed ETF/fund portfolios8
Trading Fund portfolios over £26K9, unrestricted mixed ETF/fund portfolios10
SIPP n/a
The Share Centre 1%. £7.50 min* 1%. £7.50 min* 0.5%. Min £1 £25 per holding Large trading accounts
Shares ISA £57.60
Trading £21.60 Alternative to Lloyds, Selftrade
SIPP £172.80 + £234 in drawdown £90 if in drawdown  +£120 if in drawdown
Alliance Trust Savings 4 free trades p.a. £9.99* £9.99* £1.50
Shares ISA £120 £120
Trading £120 £72
SIPP £252 £342 in drawdown 1% of value capped at £18011

Note: Charges may actually be due per month, quarter, six monthly or annually. We’ve chosen to show annual cost of service. All prices include VAT. *A frequent trader rate or bonus is also available.

Percentage fee brokers / platforms

Company Annual platform fee Fee notes Dealing:
Funds
Dealing: ETFs, ITs, & shares Regular investing Entry fee Exit fee12 Good for
Vanguard Investor 0.15% on first £250,000, 0% thereafter. Tiered charge. Max £375  Investments restricted to Vanguard funds and ETFs only £0 £0 twice per day, £7.50 to trade at other times £0 £0 Beats other % fee brokers in most cases and flat-fee brokers up to £46-£56K but restricted range
Shares ISA Fund portfolios up to £43K, mixed ETF/fund up to £56K, ETF portfolios up to £47K
Trading Fund portfolios up to £43K, mixed ETF/fund up to £56K, ETF portfolios up to £47K
SIPP n/a
Close Brothers 0.25% on all investments £0 £8.95 £0 Small fund portfolios
Shares ISA
Trading
SIPP £90 in drawdown
Cavendish Online 0.25% on all investments 0.20% on whole balance if over £200K in all accounts combined £0 £10 £1.50 £0 Small fund portfolios
Shares ISA Fund portfolios below £26K
Trading Fund portfolios below £26K
SIPP Fund portfolios below £84K, mixed ETF/fund below £84K
Charles Stanley Direct 0.25% on first £250,000 of funds13 0.25% on shares, ETFs and ITs. Min £24 / Max £24014 £0 £11.50 £10 per holding Small fund portfolios
Shares ISA
Trading
SIPP + £120 No £120 charge if £30,000+ across all accounts. + £150
Selftrade 0.3% on first £50K of funds. 0.25% £50K – £250K. 0.15% over £250K. £1,000 max. Tiered + £12.50 (+ £4.99 per account) minus dealing fees/fund platform charges per quarter. Min £0 / Max £89.92 p.a. £0 buy, £10.99 sell £9.99* ETFs,£10.99* shares £1.50 ETF portfolios with unrestricted range
Shares ISA £15 per holding Unrestricted ETF portfolios15
Trading £4.99 quarterly account charge waived if you own ISA / SIPP £15 per holding Unrestricted ETF portfolios16
SIPP + £118.80 + £180 in drawdown £78 £90
Fidelity 0.35% on all assets worth £7500 – £250,00017 Assets under £7500 = £45 p.a. or 0.35% with monthly savings plan18 £0 £10 for ETFs / ITs £1.50
Shares ISA ETF and IT fees capped at £45
Trading ETF and IT fees waived
SIPP ETF and IT fees capped at £45 ETF portfolios – restricted range
AJ Bell Youinvest 0.25% on first £250,000 of funds19 0.25% on first £250K then 0.1% on next £750K etc £1.50 £9.95* £1.50 £25 per holding
Shares ISA + 0.25% charge (max £30) on ETFs, ITs, shares, and bonds
Trading + 0.25% charge (max £30) on ETFs, ITs, shares, and bonds
SIPP + 0.25% charge (max £100) on ETFs, ITs, shares, and bonds. + £120 in drawdown + £90 Unrestricted ETF portfolios
Bestinvest Platform fee applies to all investments Tiered charge e.g. 0.4% on first £250K, 0.2% on next £750K etc £0 £7.50
Shares ISA 0.4% on first £250,00020 0.2% £250,001 – £1 million, 0% over £1 million
Trading 0.4% on first £250,00021 0.2% £250,001 – £1 million, 0% over £1 million
SIPP 0.3% on first £250,00022. No drawdown fee 0.2% £250,001 – £1 million, 0% over £1 million + £150
Barclays Smart Investor 0.2% on funds (£48 min, £1500 max) 0.1% on ETFs, ITs, shares, bonds (£48 min, £1500 max) £3 £6* £1 £0
Shares ISA
Trading
SIPP + £150 + £120 in drawdown £90 per transfer capped at £450 + £90
Hargreaves Lansdown 0.45% on first £250,000 of funds23 Tiered charge. You pay 0.45% on first £250K then 0.25% on next £750K etc £0 £11.95* £1.5024 £30 account closure + £25 per holding
Shares ISA + 0.45% charge (max £45) on ETFs, ITs, shares, and bonds
Trading
SIPP + 0.45% (max £200) on ETFs, ITs, shares, and bonds No drawdown fee
Aviva 0.4% on first £50,000 of funds25 Tiered charge. You pay 0.4% on first £50K then 0.35% on next £200K etc £0 £0
Shares ISA
Trading
SIPP

Note: Charges may actually be due per month, quarter, six monthly or annually. We’ve chosen to show annual cost of service. All prices include VAT. *A frequent trader rate or bonus is also available.

Share dealing brokers

Company Annual platform fee Fee notes Dealing:
Funds
Dealing: ETFs, ITs, & shares Regular investing Entry fee Exit fee26 Good for
Degiro  – Degiro may lend out your shares. A custody account avoids this but charges €1 + 3% (max 10%) for dividend payouts27 n/a Commission free ETF selection. €2 + 0.02% for other ETFs. £1.75 + 0.004% for shares28 €10 per holding €10 per holding No trading costs on select ETF range,29 frequent traders
Shares ISA n/a
Trading
SIPP n/a
X-O.co.uk No funds n/a £5.95 £18 per holding
Shares ISA + £60 account closure
Trading
SIPP £118.80 No fee for first year. + £180 in drawdown + £60 Alternative to Interactive Investor
Interactive Brokers $10 inactivity fee per month. Reduced by value of trades30 $10,000 min to open account. $20 inactivity fee if equity balance below $2,00031 n/a £632 International shares / ETFs
Shares ISA
Trading
SIPP Fees vary

Note: All prices include VAT.

Who is this online broker comparison table aimed at?

We have focussed on low cost platforms that suit DIY investors who want to build a diversified portfolio through index funds and ETFs. The Good for column is therefore biased towards passive investors.

Percentage fee brokers are much better for small investors whose assets are likely to remain below £25,000 (in an ISA) or £70,000 (in a SIPP) for some time to come. If you can only invest small amounts at a time then choose a broker who charges £0 for fund dealing. (Aim to pay no more than 0.5% of your contribution in dealing costs, at the very most).

Fixed fees take a disproportionate chunk out of the assets of small investors. This is why Charles Stanley, Close Bros or Cavendish Online are generally the best for small investors using ISAs and Cavendish Online is best for small investors using SIPPs.

Flat fee brokers are better for most investors who’ve accumulated over £25,000 (in an ISA) or £85,000 (in a SIPP) – percentage fees can siphon off eye-watering amounts if your broker doesn’t apply a cap. Sadly, the table is complicated because every broker is trying to carve out a niche for itself by offering something slightly different to its competitors.

That means there is no one size fits all solution. The Good for column in the table gives you an idea of each broker’s strengths.

Our calculations assume one purchase per month and four sales per year, and that you take advantage of lower priced regular investment schemes when available. Portfolios consist of funds or ETFs or a 50:50 mix.

ETFs vs fund portfolios – Below around £25,000 you’re probably better off with funds. There’s very little to separate Interactive Investor, Halifax, Lloyds, iWeb, YouInvest, Selftrade and Share Centre above that level if you’re a moderate trader using either product type. Ultimately, product OCFs, your trading frequency and picking the right tracker for the job will be more important.

Beginners starting in funds should look at Cavendish Online or Close Bros. 
Low traders – check iWeb and Halifax for ISAs.
Whichever broker you plump for, do check it carries the funds you require. There is considerable variation in range between platforms.

Where is my missing broker?

We haven’t included every last option in this version of our table but we have included the most competitive players in the market. Do let us know if you think we’ve missed anyone important.

More on costs and fees

The ‘Platform charge’ category is intended to capture the various types of service fee typically levied by platforms i.e. custody fee, platform charge, administration fee, inactivity fee and so on until the end of time / your tether.

Assume platform charges are levied per account unless otherwise indicated in the notes column or the footnotes.

Platforms levy various additional costs for extras such as telephone trading. Check a platform’s rates and charges schedule before committing.

These costs are on top of the suite of fees you will pay for investment products such as the Ongoing Charge Figure (OCF).

Take some time to calculate the likely cost of your portfolio when choosing the right broker.

SIPP charges on the table don’t include the various additional fees levied for services once you’re in drawdown.

Platforms run temporary offers and discounts from time-to-time. These are ignored as investing is for the long-term.

Understanding account names

Accounts names vary across the discount broker universe. However they typically conform to the following types:

  • Trading = taxable account i.e. not an ISA or a SIPP. Suitable investments typically include funds, shares,Exchange Traded Funds (ETFs), Investment Trusts (ITs), bonds and more.
  • Shares ISA = Stocks and Shares ISA. Tax sheltered. Suitable investments as above.
    • SIPP = Self-Invested Personal Pension. Tax sheltered. Suitable investments as above.

Why are there only links to some brokers?

Links to brokers are affiliate links, where we may be paid a fee if you go on to open an account with them. We do not choose to include brokers in our table based on whether such affiliate fees are on offer, nor does the existence of such an arrangement change the fees you pay – it is a marketing payment made by them as an incentive for websites to drive traffic to their site. We’d like more brokers to pay us when we introduce new customers – it helps us pay our way on Monevator! Including all brokers but only linking where an affiliate agreement is in place was the best compromise we could come up with.

What this table won’t tell you

Some of these brokers may not be regulated by the UK authorities. Please check directly with each broker, and read our guide to investor compensation schemes to understand why this matters.

We’ve not considered customer service and fringe benefits such as website user experience and research tools, which may be meaningful. Ask away here or at Money Saving Expert’s Savings & Investments board, the ex-Motley Foolers on the Lemon Fool board, or reddit for a broader opinion.

We haven’t accounted for exclusive, discounted funds. Most platforms stock much the same range but the bigger players in the market can negotiate slight fee discounts on certain funds. If you’re tempted by those ‘bargain’ offers then make very sure that your overall cost of investment isn’t more expensive once you load the platforms fees on top.

Please tell us about additions or corrections using the comment form below. Please supply a Web link to your data if possible in your comment to help us verify what should go into the table.

We’ll keep this table as up-to-date as possible, and conduct a sweeping review every three months.

  1. Our calculations assume one purchase per month and four sales per year, and that you take advantage of lower priced regular investment schemes when available. Portfolios consist of funds or ETFs or a 50:50 mix. []
  2. Out to another broker []
  3. Also known as ii []
  4. £84K vs Cavendish []
  5. £300 if age 75+ []
  6. £300 if age 75+ []
  7. £43K vs Vanguard []
  8. £56K vs Vanguard []
  9. £43K vs Vanguard []
  10. £56K vs Vanguard []
  11. No charge for SIPP opened after 31 Mar 2017 if you’re over 55. []
  12. Out to another broker []
  13. 0.2% £250,001 – £500,000, 0.15% £500,001 – £1million, 0.05%£1million – £2 million, 0% over £2 million. []
  14. Charge waived by 1 trade per month. []
  15. £46K vs Vanguard []
  16. £46K vs Vanguard []
  17. 0.2% £250,000 – £1 million. Charges not tiered. Charge capped at £1 million. Treat multiple accounts as one, e.g. 0.2% applies to all assets once £250K barrier crossed. ETF and IT fees capped at £45. []
  18. ETF and IT fees capped at £45. []
  19. 0.1% £250,001 – £1 million, 0.05% £1 million – £2 million, 0% over £2 million []
  20. Charge applies to each account separately []
  21. Charge applies to each account separately []
  22. Charge applies to each account separately []
  23. 0.25% £250,001 – £1 million, 0.1% £1 million – £2 million, 0% over £2 million. Charge applies to each account separately []
  24. on FTSE 350 shares, some ETFs and ITs []
  25. 0.35% £50,001 – £250,000, 0.25% £250,001 – £500,000, 0% over £500,000. []
  26. Out to another broker []
  27. No funds. []
  28. £5 max []
  29. Note, these are ETFs traded on European exchanges not LSE. []
  30. e.g. $10 fee – $6 trade = $4 actual fee that month. Waived on $100,000+ accounts. []
  31. Under 25s can open an account with $3,000 and the inactivity fee is $3. []
  32. up to £50,000 value. £6 + 0.05% of incremental trade value over £50,000. Max £29 []
{ 2159 comments… add one }
  • 1851 ivanopinion November 1, 2017, 11:14 pm

    I wonder what the Ombudsman would say about that. Last time iii hiked their fees, they were forced to give free exits.

  • 1852 PennyPincher November 2, 2017, 12:18 am

    For information to @Bastiat above. Never, ever, trust a response from II unless it is in writing -and then think about potential unstated ‘get outs’ they may have (like unstated time limits). I gave up ‘phoning them a long time ago. It was one o of the worst decisions I ever made to ship out to II when leaving Barclays Wealth and HL even though, IMHO, both were in different ways ripping me off – with nice smiles and charming staff – Barclays especially with their unexplained ‘administrative’ charges on top of their IPO commissions ( I’m a LTB&H investor). One of my best and oldest friends started up and still runs an independent financial advice business and she told me ‘this industry is full of masters in the arts of industrialised legal theft and double speak’. Invest at your peril and don’t give 99% of them an inch ( or even a centimetre!). Luckily, I’ve now got ‘enough’ but it has taken a long time and by being fortunate enough to never having to need to have touched a penny of my stash during the accumulation phase – and thank goodness for my two rather handsome CPI linked pensions and years spent in specialist financial fraud investigation to be able to dismiss the outpourings of marketing drivel this industry spews out. We will never achieve a sustainable pensions saving culture in this country until we stop the money industry from skimming off a minimum of upward of 25% to 50% of returns ( including capital gains). A fair and reasonable return for them – Yes. But unfortunately both the industry and their friends in government have their hooks deeply embedded into our dosh, their taxes and profits – and at no risk to themselves.

  • 1853 Bastiat November 2, 2017, 9:58 am

    Ok seems like you get a different answer everytime you call II regarding exit fee

  • 1854 Robbo November 2, 2017, 10:09 pm

    @ Chesk

    Yes you are correct. It would cost you £25 to open an iWeb account and then £5 for the trade. The 0.22% is the ongoing charge for the fund which goes to Vanguard.

    Monthly payments would cost £5 per transaction.

    I use iWeb and I’m happy with them so far. I buy once a year at the start of the new ISA year so it costs me peanuts.

  • 1855 Jeffrey Beranek November 2, 2017, 10:23 pm

    Note that the percentage charge on the actual fund does not need to be deducted from the cash in your account, but is instead a ‘drag’ on the performance of the fund. For index trackers this drag will roughly be the same as how much you underperform the relevant index each year.

  • 1856 Jonny November 2, 2017, 10:39 pm

    @Chesk It looks like Halifax may be cheaper (though I don’t know if they have Vanguard or not). They seem to just charge £12.50 per annum, plus 12.50 per trade (or £2 per trade if you set them up for every month).

    Halifax would cost £25 for the first year (£12.50 to open + £12.50 to make a trade) – as opposed to iWeb’s £30 (£25 to open + £5 to trade). Halifax would also be cheaper in subsequent years to (at just £12.50 per year), and if you’re setting up regular monthly trades, they’d be £2 per month (where iWeb would cost £5 for each).

  • 1857 Jonny November 2, 2017, 10:41 pm

    Do Halifax or iWeb have a minimum number of trades per year, or any inactivity fees?
    i.e. can you simply use them to hold funds without doing any trading for just £12.50/£25 per annum respectively?

  • 1858 Vanguardfan November 2, 2017, 10:49 pm

    @jonny there is no annual fee for iWeb, just the opening fee. The break even point with Halifax will depend on how many trades you do and whether you can use the Halifax regular dealing rate.

  • 1859 Vanguardfan November 2, 2017, 10:52 pm

    And no inactivity fees.

  • 1860 Jonny November 2, 2017, 10:54 pm

    Very infrequent trades, and happy to use the regular investment option when necessary.

    I was considering switching to the Vanguard platform, but will start saving immediately with Halifax. I can’t believe I’ve missed iWeb and Halifax all this time (though I have been utilising II’s shared family incentives up to now – so not too bad)

  • 1861 Chesk November 3, 2017, 2:09 pm

    @Jonny and @Robbo, thanks for the responses!

  • 1862 Scott November 5, 2017, 12:04 pm

    For reasons of platform diversification, I have holdings through both iii and Halifax Share Dealing. To save on costs, I’d considered exiting iii in favour of iWeb, however, is my understanding correct that Halifax own (or at least underpin) iWeb, and I’d therefore lose any diversification benefits (e.g. in the event of some sort of platform collapse, IT catastrophe, etc.) ?

  • 1863 Robbo November 5, 2017, 12:13 pm

    Scott, that’s correct I believe as iWeb are registered with the FCA under Halifax Share Dealing Limited.

    I was in a similar boat being with iWeb and wanting to diversify platforms so I couldn’t go with Halifax. I went with TD Direct but then the new fees under ii are not attractive to me. I think I am going to go with X-O.

  • 1864 Moving from Barclays November 5, 2017, 12:17 pm

    I don’t understand why there isn’t much discussion about HL. At a max annual fee of £45 for a shares ISA (assuming no funds) and a decent cash back on opening, it seems a good choice. Am I missing something? I agree that iweb is cheaper, but the website looks very rudimentary (I guess you get what you pay for).

  • 1865 Rob November 5, 2017, 8:05 pm

    As far as I can tell HL charge 11.95 per trade ontop of the 45 pa account fee whereas iii will charge 90 pa which will include 9 trades. So if you do 9 trades pa you would pay 90 pa with iii but 152.55 with HL, so HL much more pricey. i don’t see any cahsback for HL on opening for ISAs so don’t know where you get that info from.

  • 1866 Tom November 6, 2017, 12:34 am

    Evening All,

    Any experiences – good or bad – with the X-O.co.uk SIPP?

    It seems to be a rebadged SIPP product of “Gaudi Regulated Services Limited” / “Gaudi Trustees Limited” who are FCA authorised 488015.

    I’m looking into transferring an Aviva stakeholder pension (~100k of passive funds) to a new home. Current&Planned investment strategy is passive with occasional rebalancing. Happy with either funds or (non-synthetic) ETFs, preferably UK domiciled.

    Anybody used X-O ‘s SIPP like this?

  • 1867 Trevor November 6, 2017, 10:31 am

    There are some very cheap brokers/bulk buyers avaialble,
    https://www.degiro.co.uk/fees/ – around £2 per trade
    https://www.trading212.com/ – 10 commission free deals every month

    these are still starting up
    https://www.dabblinvest.com/ – £1.49 a month
    https://freetrade.io/ – free

  • 1868 Robbo November 6, 2017, 7:50 pm

    I’m looking to transfer an ISA with ETF’s inside from TD Direct (well ii now) to X-O.co.uk. Is there any difference in transferring the ETF’s within the ISA compared with cash within the ISA.?

    For the cash within ISA option I would sell my ETF’s with TD Direct/ii first, then transfer ISA to X-O.co.uk as cash and then buy the the same ETF’s again with X-O.co.uk.

    Obviously it would cost me more in transaction fees but would it make the transfer less complex / smoother?

    Thanks for any help.

  • 1869 Jeffrey Beranek November 6, 2017, 8:11 pm

    I guess it depends on how many ETFs you have, but I don’t think selling and rebuying them makes the process any less complex. In addition to the trading costs you will also pay a bid-offer spread, which will be more for less liquid ETFs. Also, there’s a chance you could miss out on a dividend payment if you are out of the market for too long. For any UK shares held you would also need to pay 0.5% stamp duty (again). Transferring shares “in specie”, i.e. not selling them, is fairly straightforward, it just might take a few weeks for them to appear your new account. They are always (indirectly) owned by you, and you should receive any dividends, even if you can’t see them online. Now, if you don’t have much money invested, it might actually still be cheaper to sell to cash first, for example if you have small amounts in lots of ETFs and you need to pay a lot in per share transfer out costs…

  • 1870 John. November 6, 2017, 8:15 pm

    As above, plus it’s worth checking whether your new provider offers the particular ETFs you currently hold prior to initiating transfer, if you haven’t already.

  • 1871 Kraggash November 6, 2017, 8:37 pm

    It would (almost) certainly ne faster in cash. It can take 4-6 weeks in-specie, most of which seems to be the receiving platform awaiting a response for the fund manager, although this does seem to depend of the fund manager.

  • 1872 Tom November 6, 2017, 8:38 pm

    @Robbo

    Dunno if X-O ISA t&c is similar to sipp but if you do tell them its ‘cash transfer’ then make sure the cash is ready. See extract below from X-O sipp t&cs..

    “Where you request the Administration Company to
    apply for a cash transfer from an existing SIPP you take
    responsibility for arranging dis-investment of any assets held
    within that SIPP. We will not give dis-investment instructions
    to the existing SIPP provider and accept no liability for
    delays in concluding the transfer as a result of dis-investment
    instructions not having been received or actioned by the
    transferring SIPP provider.”

  • 1873 Robbo November 6, 2017, 9:11 pm

    Thanks everyone for the quick replies.

    I think I will go for the “in specie” transfer. The new ii fees don’t come in until 11 Dec 2017 which gives me ~5 weeks – hopefully that is enough time.

    Thanks again!

  • 1874 Jamie November 6, 2017, 9:50 pm

    Interactive Investor have confirmed, after initially suggesting/saying otherwise, that where you have linked accounts (which previously didn’t have to pay quarterly fees, but will from December), they *can* transfer out without charge. The primary account still has to pay, reduced to £10 per investment (from Dec).

  • 1875 Allan November 8, 2017, 1:24 am

    I was puzzled by several comments regarding HSBC not being included in the above list, so I had a look:
    there is a HSBC-Global Investment Centre, with 0% initial charge and 0.39% Account Fee when investing in clean share class funds, I do not know about the dealing charges
    you need to have a HSBC current or savings account
    they do not sell the Vanguard products but they do L&G, Fidelity, blackrocks…
    the 0.39% fee is comparable to that of HL, Aviva and Best Invest
    here’s the link
    https://investments.hsbc.co.uk/product/206/investing-in-funds-online

  • 1876 Jeff Beranek November 8, 2017, 10:11 am

    There’s also HSBC InvestDirect (Plus) sharedealing. This is only for UK shares (including ETFs, but excluding Exchange Traded Commodities such as iShares Physical Gold), US shares (but not US ETFs) and UK government bonds. There’s a flat quarterly fee of £10.50 and trades cost £10.50 each. There are no additional annual charges to add an ISA trading account. You need to have an HSBC bank account. You can launch the trading website from your bank account, but it’s a separate site. The trading site is very basic, just: stock code + quantity + limit price. However, trades are fast and dividends arrive on the scheduled pay date without fail. Oh yes, gilt trades cost a whopping £39.95 – so only for very large trades on a buy-and-hold basis. If you are an ex-pat and are interested in HSBC Premier accounts in multiple countries (good foreign exchange / transfer service) then the amount you have in your InvestDirect account counts towards the eligibility criteria for Premier, i.e. you need at least £50,000 held with HSBC in UK). If you satisfy the criteria for HSBC Premier in another country then you can open one in the UK automatically.

  • 1877 premierfella November 8, 2017, 4:31 pm

    “i don’t see any cahsback for HL on opening for ISAs so don’t know where you get that info from.”

    @Rob
    The link is in orange on HL’s main landing page. Offer open until the 15th, but you only have to request via email to get that extended for another 3 months (which I did last time they had the offer).

    I have a Shares only ISA with them and TD Direct now transferring in to get a second bite at the cashback cherry – which in my case will cover many years of annual fees and trading fees as well as future transfer out charges (at current pricing anyway).

    Even with the cashback HL wouldn’t make much sense though on a cost basis for active traders or those with scores of separate holdings (that would be costly to transfer out if they fiddle with the pricing in future).

  • 1878 Rob November 8, 2017, 8:44 pm

    I have just seen the cashback offer. Whilst it’s quite nice, HL’s dealing charges are high, the 0.45% funds fee is very high and at £25 per stock for exiting later it makes the whole exercise rather fruitless. There’s also a £45 charge for etfs per year. I think it might be more prudent to go with someone like IG where you can hold an etf portfolio for free, literally, and there would also be no exit charges if ever wanted to leave. Also, dealing charges are £8 which is the lowest I’ve seen of any mainstream platform, or indeed any platform that offers ISAs. Degiro charge around £2 for dealing but they don’t have an ISA option. iii is another alternative as for a flat rate amounting to £90 per year you get 9 trades included at no extra charge and there are no other fees as they waive all exit fees until October next year. Although much of this also depends on the size of a portfolio, as per the broker table above. It’s not possible to do a like for like comparison as all the procing structures vary so much. So much depends on individual way of running the account and number of trades, and whether it’s an etf only portfolio or a funds based portfolio or a mixture of the two.

  • 1879 Robbo November 8, 2017, 8:52 pm

    @ Jeff Beranek I took a look at HSBC InvestDirect (Plus) as it piqued my interest. But I can only see 27 ETF’s available and they are all HSBC ones. Is this correct or am I looking in the wrong place? Thanks.

  • 1880 Vanguardfan November 8, 2017, 8:57 pm

    @Rob- iweb dealing fees are £5, no platform fees, just £25 opening fee. Pretty low cost for a large fund based portfolio with low churn.

  • 1881 Robbo November 8, 2017, 9:09 pm

    @ Rob X-O.co.uk are £5.95 per trade and no account opening fee. However, I am interested in IG as they offer a cash reward of up to £250 for transferring to them. Anyone have any experience of IG?

  • 1882 Jeffrey Beranek November 8, 2017, 9:22 pm

    Regarding ETFs on HSBC InvestDirect. Good question, I had assumed that all the ETFs I can search for are available to buy. My dad has an account, but only holds individual shares, so I don’t have actual experience of buying ETFs. He doesn’t want to be holding any kind of fund as he’s a US citizen living in UK so it’s not good from a tax point of view. Might be a good idea to check with HSBC first if you plan to be use then for ETFs.

  • 1883 Robbo November 8, 2017, 9:36 pm

    Thanks Jeffrey Beranek. The page I was looking is http://www.etf.hsbc.com/etf/uk/retail which is referenced in the following document https://investments.hsbc.co.uk/pdf/investdirect_stocks_and_shares_kfd.pdf on the Key Features of HSBC InvestDirect and HSBC InvestDirect Plus.

  • 1884 John. November 8, 2017, 11:39 pm

    IG are very basic imho. Their account detail is very minimal and retrieval facilities are pathetic. They’re very much about charts, timing, lots of screens and lots of trading.
    The account portal itself reminds me very much of FXCM, they’re certainly not a natural home for the LTBH investor. That said, their cash incentive to transfer is a welcome stop gap post TD and the platform is usable if limited.

    http://monevator.com/compare-uk-cheapest-online-brokers/comment-page-37/#comment-843727

  • 1885 Jeff Beranek November 9, 2017, 9:29 am

    You can apparently invest in “most UK-listed Exchange Traded Funds” on HSBC InvestDirect according to this: https://investments.hsbc.co.uk/article/200/youre-in-control-with-investdirect

    Searching for ETFs on the platform I could find 27 Vanguard ETFs, 232 iShares, 5 PowerShares, 27 SPDR, 4 Source, no WisdomTree, no VanEck, no UBS, no Invesco (just ITs). I can’t guarantee that if you try to buy all of these that they will be accepted, but I think chances are pretty high. I noticed that there were in fact a number of exchange traded commodity funds, e.g. physical gold funds from iShares and Source. It appears you just need to click the box that’s says you agree to the Key Investor Information Document associated with every ETF/ETC before you trade.

  • 1886 Sally Morris November 9, 2017, 1:38 pm

    III clarification and offer for family linked accounts
    Quarterly fee payments – how they work

    We recently wrote to you to explain about the new Terms and rates and charges that will apply from 11th December 2017, when your account moves to our new platform.

    We’€re getting in touch today because some customers who currently operate an account like yours, which has previously been excluded from quarterly fee payments, have been in touch with us to understand more about the quarterly payment which will apply in future.

    At ii we are committed to providing great value for investors, through a quality investing experience with simple, fair and competitive charges. We strive to make our charges fair for all customers, which is why we will be asking all our customers to make a quarterly payment of £22.50.

    In return for your quarterly payment we€’ll look after your assets safely and we’€ll also give you £22.50 of trading credits, which you can use to pay for your trading commissions, including regular investing and dividend reinvestment commissions.

    If you’€re an investor who trades infrequently then, even though you may not use all your trading credits, the fixed quarterly payment may still be good value when compared to the account or custody fees you may pay with other providers.

    We appreciate that, as you have not previously made quarterly payments, this is a change to your service. So if you wish to close your account with us or wish to transfer to another provider please let us know before the 10th of December 2017 and we will waive any transfer out fees that would ordinarily apply.

    Remember, you can find full information about our pricing on our website, including a short animation that explains how the quarterly payment and trading credits work.

    Kind regards

    Richard Wilson

    CEO Interactive Investor

  • 1887 Andy November 9, 2017, 2:12 pm

    Interactive Investors SIPP charges are changing I think, although I’m confused now. I think I read somewhere they were coming down, but when I look at the info on there website it still seems to show the old charges.

    Also Interactive Investor will charge more for large deals – up to £70 a trade for UK shares, I don’t think they did this before, and I find it rather unwelcome.

    £100-£500k = £40
    deals over £500k = £70

  • 1888 ivanopinion November 9, 2017, 2:28 pm

    I hadn’t previously realised that HL’s annual fees for holding ETFs, ITs and shares only apply within an ISA. If you hold them in a trading account, there is no annual fee, just dealing fees.

    A member of my family has, until now, had an ISA and dealing account with iii and paid no annual fees due to the family linking. She will now have to pay £90 per year. Her portfolios are solely ITs, so she could shift to HL and pay only £45 for the ISA, plus 2x£12 dealing fees, to sell £20k of ITs in the trading account and purchase the same in the ISA. Saving: £21 per year, which isn’t really worth it on its own. But with £500 cash back from HL, tempting. Only real downside is HL’s exit fees…

  • 1889 ivanopinion November 9, 2017, 2:33 pm

    @Andy
    Are you in the habit of making deals worth more than £0.5 million? Wow.

  • 1890 Sally Morris November 9, 2017, 4:29 pm

    Interactive Investors – SIPP holders transfer offer

    Do I have to transfer to the new SIPP?

    The existing SIPP scheme operated by Lifetime is closing and will be wound up, so it will not be possible to stay in that scheme. As the new SIPP scheme offers equivalent (or better) overall terms, all members will be transferred to the new arrangement. However, if you wish to transfer to an alternative scheme of your choice, you may do so, without any transfer-out charge. You will need to let us know, and provide details of where your SIPP account is to be transferred to, by 30 November 2017 if this is your intention.

  • 1891 Tom November 11, 2017, 2:41 am

    The owners of X-O (Jarvis Investment Management ltd) have another execution only operation http://www.sharedealactive.co.uk/ with fixed rate £9.50 per transaction.

    Both of these can have a SIPP attached with costs as per the comparison table above. The advantage of the apparently more costly £9.50 service is it allows Funds (as well as foreign market investments) with a fuller featured website.

    http://www.x-o.co.uk/wp-content/uploads/JARV3192%20X-O%20SIPP%20Fee%20Schedule%20AW.pdf
    http://www.sharedealactive.co.uk/assets/docs/JARV3169%20SDA%20SIPP%20Fee%20Schedule%20AW.pdf

  • 1892 The Accumulator November 11, 2017, 3:38 pm

    @ Tom – Great stuff, thank you for that tip off. I’ll take a look at Sharedeal in the upcoming update.

    @ Allan and Jeffrey – Looks like HSBC’s service has changed since last I checked it. Will take another look. Cheers.

    Re: bulk traders – these platforms are designed for trading and speculation. I’ll always list a few of them in the sharedealing section but they’re roughly as good for most investors as McDonalds is for your fitness, so we’ll never do anything comprehensive. At least while there’s breath in my body and The Investor charges me with the maintenance of this table.

  • 1893 Kevin Boyle November 13, 2017, 4:12 pm

    Tried on 3 occasions now over past 2 weeks to purchase shares in online ISA only to be told ‘sorry service unavailable at present’. Finally today was able to make first successful purchase but a second attempt met the same fate as previous efforts with the same excuse offered. Online chat acknowledged an IT problem and offered to undertake trade over the phone for me but that’s not what I want in an online platform. Buyers regret for choosing iWeb.

  • 1894 IvanK. November 13, 2017, 5:19 pm

    Any one else having issues with buying or selling with iWeb, as some others here report? I ask as I’ve considered moving from II to iWeb due to former’s introduction of quarterly charges. But if iWeb can be more unreliable, I’ll consider other options, including staying put. Thanks.

  • 1895 Vanguardfan November 13, 2017, 6:02 pm

    I can honestly say I’ve never had any issue with iWeb, but then my needs are pretty low, with maybe half a dozen trades a year generally in March – April. I’ve been with them for getting on for 5 years, and have spouse’s and my six figure ISAs and a fairly chunky trading account with them too, for pretty much peanuts.

  • 1896 John. November 13, 2017, 6:13 pm

    I can also say I’ve never had a problem buying or selling with iWeb.

  • 1897 Jeffrey Beranek November 13, 2017, 6:35 pm

    I’ve just transferred to iWeb from X-O and the transfer went smoothly. Bought some shares last week with no problems.

  • 1898 Tom November 13, 2017, 6:52 pm

    @Jeffrey Beranek

    I’ve just been researching a move to X-O! Mind if I ask why you left them?

  • 1899 IvanK. November 13, 2017, 6:56 pm

    Thanks! All replies appreciated & taken on board. Will keep iWeb high on my list.

    I was with TDD until II’s recent takeover. No issues with II’s platform so far, but slightly resentful of II’s quarterly charges of £22.50 starting 11th December, even though it goes towards future trading credit up to a maximum £90. Some years I trade often. Other years, rarely at all. Depends on markets. So I can’t be sure that this credit would be used up every year.

  • 1900 Jeffrey Beranek November 13, 2017, 6:59 pm

    I had no problems with X-O but I had to leave because they no longer allow US citizens. I was able to convince them to waive the transfer out fees. I’m a dual UK/US citizen living in th UK and iWeb has no problem with that.

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