Which Share-Dealing Platform?
Discussion
Hello All.
I currently have an account with IG for spreads but wanted to also get a regular share-dealing account. I have looked into NatWest with whom I bank, but their fees per transaction look rather high.
I have heard of iii before and my boss uses DAB Bank (German)
What say yee? Who doth you use for you fluttering?
Thanks in advance - Nick.
I currently have an account with IG for spreads but wanted to also get a regular share-dealing account. I have looked into NatWest with whom I bank, but their fees per transaction look rather high.
I have heard of iii before and my boss uses DAB Bank (German)
What say yee? Who doth you use for you fluttering?
Thanks in advance - Nick.
Interactive Brokers:
1. Trade internationally from 1 account
2. $1 per trade on US stocks, GBP6 per trade on UK stocks.
3. Great trading platform (available on iPhone and Blackberry as well). I regularly place trades from my bb.
Only thing is they require subscription to exchanges for data feed and link to generate contracts (monthly charges) and minimum charge/month.
I did my research and IMO if you do more than 10 trades a month it simply cannot be beaten. If less its capabilities wont be of any use to you and monthly costs could cut into returns.
1. Trade internationally from 1 account
2. $1 per trade on US stocks, GBP6 per trade on UK stocks.
3. Great trading platform (available on iPhone and Blackberry as well). I regularly place trades from my bb.
Only thing is they require subscription to exchanges for data feed and link to generate contracts (monthly charges) and minimum charge/month.
I did my research and IMO if you do more than 10 trades a month it simply cannot be beaten. If less its capabilities wont be of any use to you and monthly costs could cut into returns.
omuok765 said:
Interactive Brokers:
1. Trade internationally from 1 account
2. $1 per trade on US stocks, GBP6 per trade on UK stocks.
3. Great trading platform (available on iPhone and Blackberry as well). I regularly place trades from my bb.
Only thing is they require subscription to exchanges for data feed and link to generate contracts (monthly charges) and minimum charge/month.
I did my research and IMO if you do more than 10 trades a month it simply cannot be beaten. If less its capabilities wont be of any use to you and monthly costs could cut into returns.
what does this add up to in £/month? 1. Trade internationally from 1 account
2. $1 per trade on US stocks, GBP6 per trade on UK stocks.
3. Great trading platform (available on iPhone and Blackberry as well). I regularly place trades from my bb.
Only thing is they require subscription to exchanges for data feed and link to generate contracts (monthly charges) and minimum charge/month.
I did my research and IMO if you do more than 10 trades a month it simply cannot be beaten. If less its capabilities wont be of any use to you and monthly costs could cut into returns.
For example subscription to LSE (including most AIM stocks) is 5GBP/month. Subcription to most European market data is 5 Euros/month. Subscription to US markets is 10USD/month but free if you generate more than 30USD in broker fees in a specific month.
If you want to trade futures, options and other contracts there are other packages you need to subscribe to. Forex is superb.
I really dont think you can beat their fees, 1USD per US trade! But let me know if you do.
MaxAndRuby, not sure exactly what you mean by 'regular' equities, but to clarify i am not spread betting.
If you want to trade futures, options and other contracts there are other packages you need to subscribe to. Forex is superb.
I really dont think you can beat their fees, 1USD per US trade! But let me know if you do.
MaxAndRuby, not sure exactly what you mean by 'regular' equities, but to clarify i am not spread betting.
omuok765 said:
MaxAndRuby, not sure exactly what you mean by 'regular' equities, but to clarify i am not spread betting.
I meant why not spread bet on the equities you want to buy with IG? Less capital requirement, no tax.Spread betting is a leveraged product and your losses can........etc, etc.
MaxAndRuby said:
Why not trade 'regular' equities with IG?
The reason is that I am (more than) slightly concerned about the next year, I am a firm believer in the double dip, which is being given a kick-start by Barack just this last week. Also, as you'll no doubt know, with IG the options are normally daily, month, quarterly, etc etc with increasing (less favourable) spreads with increasing 'bet' period. I am looking longer term to invest for the supposed NicoG Junior. I dont want to be having to continually wonder whether ''now would be a good time to get out!'' of any open order.
With interest rates so s
te I dont know what to plump for - Premium Bonds are looking like a sensible option at the moment.May be I should start a new thread entitled something along the lines of '' how would you invest £5K for your nipper'' As basically it is this that I am looking to do.
Gold? erm, no not right now
Banking shares? Not this year
Penny shares? perhaps, there are some which have, as predicted, exploded of late... I really like Vialogy - The seem like an opportunity if thay get back to 5p after the recent flurry, I'll pile in heavily, but with IG the spread is a shockingly large percentage of the market value right now.. you need a 15% movement in your favour to be up with a closure date of 12 month form now....
I would like to do something now to give him a really solid start to adulthood; first car, uni' fee sorted... etc etc.
Actually forget it - I forgot I just need to get him into a go-karting... Sorry.
Thanks for the other responses too !!
Nico
Edited by NicoG on Wednesday 27th January 22:00
NicoG said:
MaxAndRuby said:
Why not trade 'regular' equities with IG?
The reason is that I am (more than) slightly concerned about the next year, I am a firm believer in the double dip, which is being given a kick-start by Barack just this last week. Also, as you'll no doubt know, with IG the options are normally daily, month, quarterly, etc etc with increasing (less favourable) spreads with increasing 'bet' period. I am looking longer term to invest for the supposed NicoG Junior. I dont want to be having to continually wonder whether ''now would be a good time to get out!'' of any open order.
With interest rates so s
te I dont know what to plump for - Premium Bonds are looking like a sensible option at the moment.May be I should start a new thread entitled something along the lines of '' how would you invest £5K for your nipper'' As basically it is this that I am looking to do.
Gold? erm, no not right now
Banking shares? Not this year
Penny shares? perhaps, there are some which have, as predicted, exploded of late... I really like Vialogy - The seem like an opportunity if thay get back to 5p after the recent flurry, I'll pile in heavily, but with IG the spread is a shockingly large percentage of the market value right now.. you need a 15% movement in your favour to be up with a closure date of 12 month form now....
I would like to do something now to give him a really solid start to adulthood; first car, uni' fee sorted... etc etc.
Actually forget it - I forgot I just need to get him into a go-karting... Sorry.
Thanks for the other responses too !!
Nico
Edited by NicoG on Wednesday 27th January 22:00
GILTS?
(I'm NOT a financial advisor btw!)
MaxAndRuby said:
omuok765 said:
MaxAndRuby, not sure exactly what you mean by 'regular' equities, but to clarify i am not spread betting.
I meant why not spread bet on the equities you want to buy with IG? Less capital requirement, no tax.Spread betting is a leveraged product and your losses can........etc, etc.
1. My time horizon for investments is usually 2 - 3 months (because i believe it is difficult to reasonably predict movements in a shorter period). From what i have seen the daily rolling charges can amount to quite a bit over this period (offsetting tax benefits).
2. The ability to take leveraged positions (relative to an equity acquisition) is certainly appealing, but obviously while you might be able to gain 5 pounds for every point move, you have also have increased your downside risk, yes you cant limit losses with trades in the opposite direction but this doesnt eliminate the fact that the risk of the trade has been significantly increased. Plus over 2 - 3 months this can be a real rollercoaster.
If others have a god given gift to make consistent returns on day trades, spread betting will make you a very very rich man, but unfortunately i have not been blessed with such a gift. I am however good at making 5-10% every 2-3 months which will do me fine, just take me a lot longer to get there.
NicoG said:
MaxAndRuby said:
Why not trade 'regular' equities with IG?
The reason is that I am (more than) slightly concerned about the next year, I am a firm believer in the double dip, which is being given a kick-start by Barack just this last week. Also, as you'll no doubt know, with IG the options are normally daily, month, quarterly, etc etc with increasing (less favourable) spreads with increasing 'bet' period. I am looking longer term to invest for the supposed NicoG Junior. I dont want to be having to continually wonder whether ''now would be a good time to get out!'' of any open order.
With interest rates so s
te I dont know what to plump for - Premium Bonds are looking like a sensible option at the moment.May be I should start a new thread entitled something along the lines of '' how would you invest £5K for your nipper'' As basically it is this that I am looking to do.
Gold? erm, no not right now
Banking shares? Not this year
Penny shares? perhaps, there are some which have, as predicted, exploded of late... I really like Vialogy - The seem like an opportunity if thay get back to 5p after the recent flurry, I'll pile in heavily, but with IG the spread is a shockingly large percentage of the market value right now.. you need a 15% movement in your favour to be up with a closure date of 12 month form now....
I would like to do something now to give him a really solid start to adulthood; first car, uni' fee sorted... etc etc.
Actually forget it - I forgot I just need to get him into a go-karting... Sorry.
Thanks for the other responses too !!
Nico
Edited by NicoG on Wednesday 27th January 22:00
If i were you i'd look at premium bonds, but dont get in yet, wait a bit for politics and interest rate situation to settle. I'm sure 3 or 4 months wont bother Nico G Junior too much.
I agree markets might be in for a small correction, but i think this will be real estate fuelled and not be anywhere near as deep as what we've just gone through.
[quote=omuok765]
I do have a small spread betting account on the side, for fun, and comprises money i am prepared to lose. I do recognise the benefits you noted above, however there are 2 issues for me:
1. My time horizon for investments is usually 2 - 3 months (because i believe it is difficult to reasonably predict movements in a shorter period). From what i have seen the daily rolling charges can amount to quite a bit over this period (offsetting tax benefits).
2. The ability to take leveraged positions (relative to an equity acquisition) is certainly appealing, but obviously while you might be able to gain 5 pounds for every point move, you have also have increased your downside risk, yes you cant limit losses with trades in the opposite direction but this doesnt eliminate the fact that the risk of the trade has been significantly increased. Plus over 2 - 3 months this can be a real rollercoaster.
If others have a god given gift to make consistent returns on day trades, spread betting will make you a very very rich man, but unfortunately i have not been blessed with such a gift. I am however good at making 5-10% every 2-3 months which will do me fine, just take me a lot longer to get there.
[quote=NicoG]
But those losses are only dangerous if you don't implement a stop loss, which surely you do with 'normal' equities? If you don't then the losses are potentially just as dangerous.
I can understand your point regarding the rollover, I've never done the sums, but I'll take your word for it that it negates any tax benefits.
I do have a small spread betting account on the side, for fun, and comprises money i am prepared to lose. I do recognise the benefits you noted above, however there are 2 issues for me:
1. My time horizon for investments is usually 2 - 3 months (because i believe it is difficult to reasonably predict movements in a shorter period). From what i have seen the daily rolling charges can amount to quite a bit over this period (offsetting tax benefits).
2. The ability to take leveraged positions (relative to an equity acquisition) is certainly appealing, but obviously while you might be able to gain 5 pounds for every point move, you have also have increased your downside risk, yes you cant limit losses with trades in the opposite direction but this doesnt eliminate the fact that the risk of the trade has been significantly increased. Plus over 2 - 3 months this can be a real rollercoaster.
If others have a god given gift to make consistent returns on day trades, spread betting will make you a very very rich man, but unfortunately i have not been blessed with such a gift. I am however good at making 5-10% every 2-3 months which will do me fine, just take me a lot longer to get there.
[quote=NicoG]
But those losses are only dangerous if you don't implement a stop loss, which surely you do with 'normal' equities? If you don't then the losses are potentially just as dangerous.
I can understand your point regarding the rollover, I've never done the sums, but I'll take your word for it that it negates any tax benefits.
MaxAndRuby said:
omuok765 said:
I do have a small spread betting account on the side, for fun, and comprises money i am prepared to lose. I do recognise the benefits you noted above, however there are 2 issues for me:
1. My time horizon for investments is usually 2 - 3 months (because i believe it is difficult to reasonably predict movements in a shorter period). From what i have seen the daily rolling charges can amount to quite a bit over this period (offsetting tax benefits).
2. The ability to take leveraged positions (relative to an equity acquisition) is certainly appealing, but obviously while you might be able to gain 5 pounds for every point move, you have also have increased your downside risk, yes you cant limit losses with trades in the opposite direction but this doesnt eliminate the fact that the risk of the trade has been significantly increased. Plus over 2 - 3 months this can be a real rollercoaster.
If others have a god given gift to make consistent returns on day trades, spread betting will make you a very very rich man, but unfortunately i have not been blessed with such a gift. I am however good at making 5-10% every 2-3 months which will do me fine, just take me a lot longer to get there.
1. My time horizon for investments is usually 2 - 3 months (because i believe it is difficult to reasonably predict movements in a shorter period). From what i have seen the daily rolling charges can amount to quite a bit over this period (offsetting tax benefits).
2. The ability to take leveraged positions (relative to an equity acquisition) is certainly appealing, but obviously while you might be able to gain 5 pounds for every point move, you have also have increased your downside risk, yes you cant limit losses with trades in the opposite direction but this doesnt eliminate the fact that the risk of the trade has been significantly increased. Plus over 2 - 3 months this can be a real rollercoaster.
If others have a god given gift to make consistent returns on day trades, spread betting will make you a very very rich man, but unfortunately i have not been blessed with such a gift. I am however good at making 5-10% every 2-3 months which will do me fine, just take me a lot longer to get there.
NicoG said:
But those losses are only dangerous if you don't implement a stop loss, which surely you do with 'normal' equities? If you don't then the losses are potentially just as dangerous.
I can understand your point regarding the rollover, I've never done the sums, but I'll take your word for it that it negates any tax benefits.
Agreed, remember though that stop losses are not guaranteed on either stock holdings or spread betting. If you long a particular company at 100 and put a stop loss at 80 and the next day the stock opens at 50 your attempt to limit losses has been ineffective. And let's face it in today's trading environment this is not unheard of.I can understand your point regarding the rollover, I've never done the sums, but I'll take your word for it that it negates any tax benefits.
I have just started using this site http://247bull.com/compare-brokers/ it is a comparison site for platforms that gives you most of what you are looking for.
I would be interested as to what you think as there seems to be lots of differences between platforms and the spreads they offer.
some are the same platform but white labled as another brand.
I would be interested as to what you think as there seems to be lots of differences between platforms and the spreads they offer.
some are the same platform but white labled as another brand.
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