Selftrade alternatives

[Ean218]

I've got some of my pension in shares which I deal through Selftrade.

They have "voluntarily" not taken on any new business for a year now and I am starting to get a little worried about their future. They are ultimately owned by Societe General so the money ought to be safe but I imagine if they start to wind down getting it out might be awkward.

So are there any recommendations for other execution only, online dealers with reasonable charges?

[trashbat]

Many on here use Hargreaves Lansdown, and seem happy, although IIRC their platform fell over during the RMG flotation.

I use The Share Centre (share.com) and I'm also happy. The options are:

• Infrequent dealing at higher of 1% or £7.50 per trade; account fees of £1.80 a month
• Frequent dealing at flat rate of £7.50 per trade; account fees of £24 a quarter

You can reduce those per trade costs by 30% if you own 500 shares in The Share Centre itself, which is about £120.

The platform is a bit dated, and you can make mistakes with it if you don't pay attention, but it works fine and their customer service is good.

Also consider a stocks ISA to protect you from CGT. I don't have any experience of this; my gut feel is that there might be better options than The Share Centre here, as their fees seem steeper.

[Ginge R]

Good question.

I'd be interested to see what other people's thoughts are on costs and functionality. I'm shortly launching an execution service from my (already established) IFA site at a cost which will be cheaper than if an investor had approached it directly and which will offer investments, a cheap SIPP and direct share offerings. Although I mention that, it certainly *isn't* to publicise it; rather, to place my opening point and question in context.

What are people paying at the moment and with who?

[B17NNS]

Ginge R said:

What are people paying at the moment and with who?

I use HL. I pay a minimum of £5.95 per trade up to a maximum of £11.95 per trade depending on frequency.

[Ginge R]

Thanks; £5.95 is competitive for sure.

[cailean]

Is Selftrade really on shaky ground? Why have they stopped taking on new customers?

[RichS]

Xo is very cheap I think- something like £6 a trade

[Ean218]

cailean said:

Is Selftrade really on shaky ground? Why have they stopped taking on new customers?

Only Selftrade and the FCA know the real answer to that question. Initially it was a voluntary thing just for 2-3 months, that was a year ago.