Shares ISA - high vs low fee platforms?

[xyz123]

Hi, am looking to start a stocks and shares ISA. I have actually recently opened an account in this tax year and put £20k to invest. These are held in cash at the moment. Plan is to add more as regular monthly investments and looking at funds mainly.

After I opened the account, I got more understanding about the fees. My platform charges 0.35%. Then I came across some other platforms like Lloyd's and Halifax which seem to charge a quite low annual fee of around £40.

As far as I know almost all funds are available on almost all Platforms (with some exception like HSBC and VANGUARD). Am I right?

Is there any other disadvantage of these platforms or something I am missing? I realise the app may be better with higher fee platform but for regular investing it doesn't really matter.

Any other suggestions/pointers welcome.

Thanks

[thekingisdead]

In general - % based charges are better for small portfolios, fixed fee for larger (you prob didn’t need me to tell you that!)

But you also need to consider trading style as buying/selling Fee’s will eat into your returns.

So it’s worth weighing up your investment style.

Personally I trade infrequently and have a reasonable sized portfolio so iWeb is perfect for me - if I don’t trade then I only pay the fund fee (or nothing for individual shares)

Monevator do a handy comparison table for brokers

[biggiles]

Unless you are actively trading (and it sounds like you aren't), the platforms are mostly much-of-a-muchness in how they operate, amongst the reputable ones. It's possible to move providers, further down the road.

Read up on Monevator and choose the best-value reputable one.

[xyz123]

Thanks for your replies. When I mentioned I am now more aware of the charges, it was in fact due to that monevator broker comparison table and that's what led me to the question. I will do further research on Lloyds and Halifax websites.