Could you buy and sell shares for free?

Freetrade Chat šŸ”„
25

I bought 26 different shares today. Cost me nothing. HL would charge 300 quid. Ok i wasnā€™t paying 18k each but thatā€™s 300 quid in my pocket and for most people thatā€™s a lot more than a days wages.

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26

Yes but you still paid stamp duty or fx charge, so it is not free.

27

All I am saying is fees will kill you if you day trade/swing trade and have trades which are under Ā£1000 a pop. If you are trading big positions, Ā£10,000 a trade, the Ā£10 fee is meaningless.

28

Not if they bought ETFs :woman_shrugging:

And using stamp duty as an example is misleading as nobody can avoid that if itā€™s due

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29

With HL I was only buying positions of Ā£1K or more because of the fees. Youā€™re right the fee is only ~1% of that so itā€™s not a big deal, but with freetrade Iā€™ve bought a much more diverse portfolio because I can get more smaller positions and itā€™s still cheaper

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30

You can avoid stamp duty buying non UK stocks and also stocks on the FTSE AIM. Stamp Duty is a lot at 0.5% of trade value.

31

Yep. Thatā€™s why I said if itā€™s due

1 Like
33

Where did you get the extra 1% from? Itā€™s just Ā£11.95, although there is a buy/sell spread and stamp duty as well, but everywhere has that

35

FX charges are charged at a percent of trade value, stamp duty is at 0.5% of trade value.

1 Like