Brokers And Service Providers | International Share Dealing - Share Help And Advice Please

13th Jun '17 by underscored

4 comments 6643 reads

I have been using AJ Bell as my ISA provider, and had not until recently had any reason to be dissatisfied.

Any stock on recognised markets was available for telephone dealing. Recently I have felt a push towards online dealing only (have you tried online sir? we are trying to save you money etc etc.).

Now I have had a clear decline to trade stocks on my behalf that are ISA eligible, but niche and requiring a CDI, recent examples include £XIL, and £ATEME.

Is anyone else experiencing this issue, and are there brokers out there better able to support my strategy? I am currently looking at Saxo Capital Markets, but the fees will take some time for me to decode and digest.

All experiences and advice welcome (Ed any chance of a Stockopedia broker ;) )

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Edward Croft

14th Jun '17

Underscored - we did a big study a couple of years ago - have a look here - http://www.stockopedia.com/content/is-your-stock-broker-fleecing-you-when-you-deal-in-foreign-stocks-106184/

Rusty2

I use HL which are quite expensive, 1.5% for foreign currency. They have fairly good coverage but some shares only available by telephone dealing which is more expensive. Some shares not available in a ISA. Not sure why you prefer telephone trades to online. Canadian stocks are now available.

I'm considering switching to another broker for foreign shares.

underscored

Thanks Herbie. I am planning a move to Saxo for foreign shares - I would be interested in anyone in this community has experience with them.

16th Jun '17

AJ Bell sent me the following message today:

No idea how to identify CREST settling shares in advance...

"I'm writing to let you know about some changes we are making in respect of international investments held within your portfolio.

Wherever possible, we use the UK CREST settlement system for international investments, these are held as CDIs (CREST Depository Interests).

However, not all international securities can be held in this way, and where this is the case, we currently hold them via a global custodian.

We will no longer offer purchases in international markets that can't be held as CDIs, the only exceptions to this are the Pacific Rim markets (Australia, New Zealand, Singapore, Japan, Hong Kong), and South Africa. For further information please refer to our website https://www.youinvest.co.uk/our-services/investment-options

The international investment(s) that you currently hold that are affected by this change are:

You can continue to hold these investments in your portfolio and if you decide to sell them then we can do this for you, providing there is a market for the security, but we cannot facilitate any further purchases.

If you have any questions about this, please call us on.

Yours sincerely"

International Share Dealing - Share Help and Advice please

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Underscored

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