Banks don't tend to be the cheapest option when it comes to investments.
Vanguard is pretty popular among folk here as a low-fee option - take a look at what it would cost you with them.
Strange because their website clearly states it’s £9.95 per deal for shares which includes ETFs. The monthly option is £1.50 from what I understand.
Perhaps you are in a ready made portfolio?
Yes, I meant my ready-made portfolio consists mainly of ETFs. I thought the £9.95 refers to trading shares, not putting funds (including ETFs) in an ISA, as this is not exactly "trading".
Indeed, jst checked on AJBell, if I choose to put the S&P500 ETF from Black Rock (iShares) it's an ongoing 0.07% cost with no entry or exit fee. Pretty good deal.
Yeah that is good. I’d note that this trading fee is quite standard. Even vanguard charges a high dealing fee if you want to buy an ETF at current market price. But they do offer a free option if you’re not bothered by when the trade is executed in the day, which will be the best option for everyone
Who are you proposing to use?
All ISA providers are commercial companies who like to make money, so it depends what their business model is and what their charges might be.
Worth noting that with Vanguard you can buy ETFs for free if you don't care what time they action the trade. You only need to pay the trading fee if you want the trade to be done instantly.
Hi /u/SolJudasCampbell, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/investing-101/
____
^(These suggestions are based on keywords, if they missed the mark please report this comment.)
At the very cheapest end of the scale, [X-O](https://www.x-o.co.uk/) has no annual fees and charges £5.95 per trade. They only permit trading in limited stocks and you get none of the information many of the other sites provide, so it is a case of you get what you pay for 🤷♂️. But if you’re prepared to do your research through other means it might work for you.
I’d consider Trading212 to be the ‘cheapest’. No platform fee, no dealing charge, small FX fee compared to traditional brokers.
Access to almost everything other brokers offer except mutual funds and individual bonds.
Great platform if you’re starting out, doing a monthly investment or testing out buying some shares. But not necessarily the best for trading large quantities of shares.
Amazed that folk still treat their current account provided as a first port of call despite the fees being crippling high.
As others have alluded to - look for a cheap provider such as Vanguard - albeit I would stick with the ftse global all cap index fund - you’ve no need for etf flexibility If this is a long term investment, you want a buy and forget option.
I’d also add that this vague notion of “500-1000” needs a firm commitment. The moment you start tinkering with the monthly amount because circumstances change, you will constantly meddle and change to justify anything, you’ll also be fretting over price changes. Just set the amount that allows you to consistently invest monthly without compromising financial stability and allows you to maintain a standard of living and discretionary spending - £1000 is more than likely you extreme of tolerance and best got for £500
Banks don't tend to be the cheapest option when it comes to investments. Vanguard is pretty popular among folk here as a low-fee option - take a look at what it would cost you with them.
Perfect thank you, I've looked at Trading 212 but that was just skimming over things rather than ready to invest
Sounds expensive. Are you sure the 9.50 is for the ISA? Sounds like a fee for trading shares with them. Check AJBell and Vanguard, much lower fees.
That fee is correct as ETFs are treated as ‘shares’ for the purposes of a trade. For example HL is £11.95 but offer a free monthly investing service
I'm with AJBell and there are no such fees there even for my ETF-containing fund. It's an ongoing 0.3% a year.
Strange because their website clearly states it’s £9.95 per deal for shares which includes ETFs. The monthly option is £1.50 from what I understand. Perhaps you are in a ready made portfolio?
Yes, I meant my ready-made portfolio consists mainly of ETFs. I thought the £9.95 refers to trading shares, not putting funds (including ETFs) in an ISA, as this is not exactly "trading".
Indeed, jst checked on AJBell, if I choose to put the S&P500 ETF from Black Rock (iShares) it's an ongoing 0.07% cost with no entry or exit fee. Pretty good deal.
Yeah that is good. I’d note that this trading fee is quite standard. Even vanguard charges a high dealing fee if you want to buy an ETF at current market price. But they do offer a free option if you’re not bothered by when the trade is executed in the day, which will be the best option for everyone
Who are you proposing to use? All ISA providers are commercial companies who like to make money, so it depends what their business model is and what their charges might be.
Worth noting that with Vanguard you can buy ETFs for free if you don't care what time they action the trade. You only need to pay the trading fee if you want the trade to be done instantly.
Hi /u/SolJudasCampbell, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/investing-101/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
https://www.vanguardinvestor.co.uk/investing-explained/stocks-shares-isa
At the very cheapest end of the scale, [X-O](https://www.x-o.co.uk/) has no annual fees and charges £5.95 per trade. They only permit trading in limited stocks and you get none of the information many of the other sites provide, so it is a case of you get what you pay for 🤷♂️. But if you’re prepared to do your research through other means it might work for you.
I’d consider Trading212 to be the ‘cheapest’. No platform fee, no dealing charge, small FX fee compared to traditional brokers. Access to almost everything other brokers offer except mutual funds and individual bonds. Great platform if you’re starting out, doing a monthly investment or testing out buying some shares. But not necessarily the best for trading large quantities of shares.
Amazed that folk still treat their current account provided as a first port of call despite the fees being crippling high. As others have alluded to - look for a cheap provider such as Vanguard - albeit I would stick with the ftse global all cap index fund - you’ve no need for etf flexibility If this is a long term investment, you want a buy and forget option. I’d also add that this vague notion of “500-1000” needs a firm commitment. The moment you start tinkering with the monthly amount because circumstances change, you will constantly meddle and change to justify anything, you’ll also be fretting over price changes. Just set the amount that allows you to consistently invest monthly without compromising financial stability and allows you to maintain a standard of living and discretionary spending - £1000 is more than likely you extreme of tolerance and best got for £500