Stocks buying/selling commision

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28th Jul '18 by Dhanpal Panwar

4 comments 2504 reads

Hi all, I use IGG for buying / selling stocks and their commision is £8/trade. I was wondering if there are other ways ( platform or options) a cheaper way for share trading. £8 is not too much per trade. Cheers

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Dhanpal Panwar

Premium Member

4 comments

rjg

29th Jul '18

Quick tip: if you open a spread bet account with IG under the same login details as your share dealing account and place one spread bet trade each month, they will reduce the commission for normal share trades to £5 per trade for the next month. I usually place a FTSE spread bet for the minimum amount - £1 per point - I might make a few quid but even if I lose a couple of ££ the savings on dealing costs on my share dealing account make it worthwhile...

garbetklb

29th Jul '18

Iweb are cheaper - £25 to open a Sharedealing account or (I think) an ISA. Then no annual etc charges at all apart from dealing - which is £5 per deal. Also £2 to set up a "Trade Plan" (limits, stop losses etc) - which is refunded if the trade is executed.
It's totally online with no option to speak to dealing staff but, unless you are looking at exotic / micro investments, that's rarely an issue.
Overseas shares too - £5 + 1.5% currency charge. Never used this, so no idea how competitive it is.
The website is pretty user-friendly and seems reliable.
Iweb are part of Halifax share Dealing - a subsid of Lloyds TSB, so should be pretty secure

jonesj

29th Jul '18

The 1.5% currency charge will cost you more than the trading fee on any reasonably sized trade.

DaviStoVest

30th Jul '18

I use DeGiro ... which, I think, marks me down as a non-risk-averse investor.

So far, DeGiro has been, on balance, very satisfactory. I have made most of my trades quickly, exactly when I wanted them to take place, at the prices that I expected.

DeGiro is not perfect and is a quite basic platform and a bit clunky ... but it is very good value. Even quite large trades rarely involve a brokerage fee in excess of £2 - £3.00. DeGiro also offers very competitive exchange rates when dealing in shares listed on overseas exchanges.

So ... I'm happy ... so far. Of course, I don't know yet what it would be like to try to liquidate my holdings and take my money out. Fingers crossed!

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Stocks buying/selling commision

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Dhanpal Panwar

4 comments

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