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General => General discussion => Topic started by: bobbarley on 29 January 2013, 20:22
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Do any of you guys partake in a spot of trading? If so, just curious who you use to carry our your investments? I'm opening up a stocks & shares ISA and am trying to decide who to use. I've had Halifax and Hargreaves Lansdown recommended to me so far.
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Don't know much about it all tbh, but I'd imagine Halifax are selling pretty low at the moment, what with all thats gone on the last couple of years with banking in general, and Halifax in particular. Hargreaves Lansdown is a Bristol based firm (Steve Lansdown is the owner of Bristol City Football Club, and Bristol Rugby too!) of who I'm a fan! They are the biggest independent Stocks and Shares company in Europe outside of London, and aside from the football (£14.4M lost this year), are doing amazingly well! They will never be on the scale of Halifax, so you'll never gain a massive amount unless you put a huge amount to begin with, but that said you'll never loose much either. :smiley:
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I use my bank, Lloyds TSB, they offer a great service to customers, as do most banks afaik
Thom
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Don't use Smith and Williamson, 25 Moorgate.
Lost enough in one year to buy a car..... Almost glad those days are over!
:sick:
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I can't touch Lloyds TSB any more, they allowed someone to steal my identity (Didn't check signatures etc) and did sweet FA to help me out afterwards.
Just to clear it up, I will be making all my own investment decisions. Im pretty clued up on it all working in an Investment Bank. Just looking for a good company to carry out the transactions for me, for an ISA.
Quite keen on HL, they have a good reputation and I love the idea of trading via my iPhone.
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My advice is to read up on balanced funds and see how all the ratings work its a mine field at best, but you can see trends and spot good investments in specific sectors, seasonal, energy, light industry etc.
I would find a good model or virtual portfolio to start and start seeing if you like Curency trading, commodities, Equities, Fixed income or if you are clued up try spread betting or Derivatives!
I worked in banking for 13 years I'm retired now :grin:
Question why now?
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I use Hargreaves Lansdown, very easy to use on web and on iphone app.
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What amount of money can you start up with on that scheme?
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As an ex Halifax staff that dealt with the stocks and shares ISA's..... The new products are no where near as good as the one's I dealt with! (run by Scottish Widows)
my own shares are held with Hargreaves Lansdown and they are very active in keeping you upto date with the markets and also give trading offers each month. Plus they offer a whole of market fund range if you want funds and not individual company shares (I have both but I prefer funds as you don't need to rely on 1 companies fortunes to earn ££)
(remember most fund based isa's have around 5% initial fee's on top of management charges and selling fee's, so check the small print and see how much it will cost you)
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A lot of praise for HL, I think I'll set up an account with them. Going to make regular £50 investments :smiley:
The plan is to select funds with no initial charge, HL get a full discount on some of them. They also get discount on some AMC's as well. Going to start off with one fund, then add over time. Looking to start with Majedie UK Equity, then have a little play with emerging markets, just a little I'm prepared to gamble with.
I'm lucky in that the Bank I work for actually prices a lot of the funds. I drink with the person who prices Majedie funds, and I actually value Blackrock funds myself :grin:
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A lot of praise for HL, I think I'll set up an account with them. Going to make regular £50 investments :smiley:
The plan is to select funds with no initial charge, HL get a full discount on some of them. They also get discount on some AMC's as well. Going to start off with one fund, then add over time. Looking to start with Majedie UK Equity, then have a little play with emerging markets, just a little I'm prepared to gamble with.
I'm lucky in that the Bank I work for actually prices a lot of the funds. I drink with the person who prices Majedie funds, and I actually value Blackrock funds myself :grin:
Declear your investments with the compliance team you might be restricted into what you actually manage fella, but you know that already :rolleyes:
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Aye, we have some software for registering our investments. It's retrospective though, we just have to tell them what we've bought, as opposed to getting permission. Only restriction is we can't trade short positions.
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Aye, we have some software for registering our investments. It's retrospective though, we just have to tell them what we've bought, as opposed to getting permission. Only restriction is we can't trade short positions.
LOL good old days gone! I started emerging markets for JPM the amount of positions I had to cover killed me as the overdrafts were 800% per day! I even called them exotics :grin:
Sounds like you know where to get the info, surely you must have a few Bloomburg and Reuters machines doing nothing :laugh:
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:grin: :grin:
Yeah got a couple of Bloomberg machines, really useful :smiley:
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Watch out for the ISA fees, usually hidden well. I have a Halifax account - nice interface, updates etc but there are some cheeky ongoing charges. I was going to move elsewhere but then there are lots more transfer fees. There's another provider with very low charges who's name escapes me... I'll think of it later!
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Watch out for the ISA fees, usually hidden well. I have a Halifax account - nice interface, updates etc but there are some cheeky ongoing charges. I was going to move elsewhere but then there are lots more transfer fees. There's another provider with very low charges who's name escapes me... I'll think of it later!
Yes the cost of selling units and buying into is very well hidden sometimes large unit sellers drastically reduce funds and the costs of selling to make payout gets spread across index's which you rearly see TBH. :rolleyes:
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I wasn't meaning the total expense ratio type stuff although you obviously need to be aware of that too. Halifax and many other Share ISA providers charge an ongoing fee for just running the account.
Halifax:
0.05% per month - min £2.16 plus VAT, max £8.33 plus VAT (paid half-yearly)
So it costs you a minimum of 31 quid a year to have the account open.
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I wasn't meaning the total expense ratio type stuff although you obviously need to be aware of that too. Halifax and many other Share ISA providers charge an ongoing fee for just running the account.
Halifax:
0.05% per month - min £2.16 plus VAT, max £8.33 plus VAT (paid half-yearly)
So it costs you a minimum of 31 quid a year to have the account open.
Yeah the commission part JV To be honest unless you buy bulk trades buying units and paying commision is still the cheapest way of investing. It costs me about £10 per trade, but there are funds that you can buy directly into which cuts out middle men, but then do you have time to switch/manage funds types and watch by sectors on best performers? You can run software to do it for you though but thats another level.
Back in the day Saturn was a good choice but I've been out of the game quite awhile even though I still do the odd trade when it comes my way :tongue:
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I have been trading quite a lot since the fiscal crash in 2007/2008. As I prefer to do my trading instantly online, without having to phone anyone, I decided to use Selftrade.
However, you need to review how often you will trade as service charges have changed recently. There is a comparison site to help you decide, also bear in mind the trade charges etc.
If you require any info, please PM me
Red
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I was looking at Selftrade earlier funnily enough. I decided against them as their charges are too high, £1.50 per fund traded is pretty bad when everyone else is doing them for free. I want to do regular monthly investments, so a % charge per year works out better for me.
Just opened up a HL account and set u a regular monthly investment. Just a shame they won't make the first transaction until March! :shocked:
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I was looking at Selftrade earlier funnily enough. I decided against them as their charges are too high, £1.50 per fund traded is pretty bad when everyone else is doing them for free. I want to do regular monthly investments, so a % charge per year works out better for me.
Just opened up a HL account and set u a regular monthly investment. Just a shame they won't make the first transaction until March! :shocked:
Sorry pal, did they say why they cannot do this until March...? I am assuming that you have opted for a Shares ISA account, so have you used any or all of your annual ISA allowance for this tax year? Unless the latter, it should not take a month to create an account (regardless of ISA or not). Sorry for the bombardment of questions but I have my Accountant's hat on :smiley:
Red
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They've scheduled the first direct debit investment for 6th March, don't see why they couldn't do it for February. Just seems like a timing thing.
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They've scheduled the first direct debit investment for 6th March, don't see why they couldn't do it for February. Just seems like a timing thing.
Ok, so this is because you have elected for regular monthly installments, so now makes sense. However, they should have offered you an option to make a one-off payment beforehand. Please bear in mind that as you have opted for a Shares ISA account your annual contributions are restricted. If you have not invested, or even if have but are within limit, in any other ISA account since the start of the tax year (6th April 2012) you are losing out on an ISA contribution for this tax year which ends in a couple of months. Remember you can only add a certain annual amount to ISA's (cash, shares etc) and any benefits/profits made to these will always be tax-free, else you will have to pay Capital Gains Tax (i.e. if outside ISA spectrum)
Hope I haven't confused you :sad:
Red
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Sorry guys, if you need any more advice or help on stocks/shares/funds etc, please PM me as I am a regular on the Mk6 section and I may miss any responses to this thread.
If not, my advice is to (a) research any companies and their markets and (b) spread the risk !
Red