FCA weighs exit fee clampdown across investment industry


(Nicholas Tunnicliffe) #1

https://www.ft.com/content/b91c0eba-462b-11e9-a965-23d669740bfb

Sorry can’t get it to link correctly


(Alex Suss) #2

Good, the vast majority of brokers are crooks either way. How does the common man invest when he is charged £12 to trade, on top of stamp duty. You have to trade a minimum of £1000 a trade to make it worthwhile.

HL is probably the worst out there. Overpriced trading, overpriced funds. You are better off with Freetrade or a Vanguard Index Fund.


#3

There are ways to cut costs - buying and holding is one way, so you don’t incur too many trading fees. Even HL allows you to purchase via regular investing which only costs £1.50 per purchase.

Unless you want to invest in funds, which Freetrade don’t currently offer. Or in funds other than Vanguard, which Vanguard Funds don’t offer.


(Alex Suss) #4

Freetrade has indexes, which is more than sufficient for 90% of investors.


(Alex Sherwood) #5

Named & shamed.


(Dave Smith) #6

“Hargreaves Lansdown receives far more transfers in that out”

Just you wait! :smiley:


(Ben) #7

They’ll just bump up fees elsewhere I guess.


(Dave Smith) #8

To be honest I doubt anyone makes much from exit fees anyway, I guess it’s more of a deterrent to make people reluctant to switch