Itās just my 2p but think this is perhaps a little foolish. After all, the point of investing is returns ā not to support your favourite broker. But to each their own!
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Itās more I was going with T212 to start with they closed the door I was learning and at the time never seen any others cheap enough that popped up. I think I seen that plus500 that nobody seems to talk about. I also was on the phone to those lionaire or whatever they were called from London and that was property investment I think or the stock market me being completly new I didnāt no where or what I was doing to be honest.
So freetrade popped up looked cheap and freeshares were on offer so I took it up and stayed there because like real life Iām loyal to something I choose until they take the piss that is.
It might sound foolish but some people chase more and more money. I think I do enough that Iām saving I do more than the average person I can see that just by the evidence of 99% of the people I speak to anywhere donāt invest etc.
I know roughly how much I will end up with and Iām happy enough with that. Iām not trying to chase an extra 5k or 10k. I have no kids and wonāt have kids, I dont have a bought house and well Iāll see about that in the future.
I have came from nothing so living on a low income I have done that plenty right into my late 20s off and on and off and on. So thatās nothing new.
Moneys money and to be honest this is actully a hobby for me thatās what it started out as then I took it a little more serious then I got boried for a while and turned myself off thatās also when I saved my stock money in the bank and held off like you also did.
Moneys working for everyone who knows how to work it but itās a case of how efficient you want to be, the life style youāre after, your health, how long you think you might live giving the health you might have already etc etc.
Long story short I get I will be losing out but it wouldnāt be for years and years is the magical number 50k? But I can bet even when I get there everything will be all changed.
In theory when T212 takes out there free sipp shouldnāt we all just move? Since everythingās free on their platform because of how they make cash.
I just canāt be fked with transfers waiting about etc, and Iām getting my work place sipp moved to here soon too. I like everything in the same place.
Do you jump about to different brokers all the time? I also donāt want to keep track of how much I used in this isa then another brokers isas and everything else, for all you k ow you could ask to move everything over the freetrade somehow change to be the cheapest, imagine lol
If 50k is the magic number even if I started from Ā£0 that would take me 5 years. Thatās straight cash no compounding or interest.
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I donāt, no.
But I have accounts with many of them for different purposes and Iāll move investments if it makes sense. I identify what I want to invest in first then find the cheapest/best place to do so.
FTās got better execution on smaller UK companies; T212 has wider range, cheaper FX fees and no Ā£17-per-holding transfer charge; IBKR can be cheaper again for big US purchases; HL offers Lisas and Jisas, employer pension contributions; and so on
Itās reasonable to want to hold everything under one roof, it makes life easier. Unfortunately, thereās no broker thatāll tick each and every box. So, I like to mix and max but thereās no ārightā answer ā all that really matters is what works for you.
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I completly get what youāre saying and I know some use some apps fore day trading so they need thousands and thousands of stocks.
I have reduced to be quite simple now I think itās best for someone with low experience and a lowish wage.
Iām happy here and I enjoy the form. I get that there is cheaper places to go and I know T212 would be that place but for now Iām going to keep pushing with freetrade and see how they go.
The target of 50k should be achieved because my goal was 100k and I would be a happy bunny.
If I really wanted though I could do all that jumping about as well for the ebdt prices everywhere but I think Iām doing an OK job as is and tbh life is a bit hectic atm so I made everything simple for me to deal with and thatās the main thing stress free trading.
Hopefully more improvements come then people wouldnāt feel the need to move. Itās hard though to best a company that makes their profits using its customers to lose money to fund it.
Thatās another reason I stay here as well freetrade try to do it the proper way and if they can improve better and find some way to bring in the profits without needing t212s type methods that would be cool.
My HL SIPP got to an amount where it was cheaper for me to transfer to Freetradeās SIPP.
Ironically however, when I come to draw down, itās possible that I may transfer back to HL as they have the draw down options I am looking for, whereas Freetrade do not.
However, this may be addressed in time, in which case I may not need to transfer.
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Good videos. Fairly comprehensive, although I think his FX fees on IBKR ISA are wrong.
His analysis pretty much aligns to mine. II are the best SIPP, T212 are the best all round ISA (and GIA).
HL too expensive. Freetrade fine, good if you want both in the same place. IB great for ISA fees if youāre only focusing on US stocks.
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I keep thinking about transferring aswell but being 16% down keep putting it off
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I just didnāt like some of his math and ofc as above stated itās hard to compare depending on what youāre after. Itās judt he never showed FT as Ā£9.99 etc if you pay annually and you do get the fees wavered if you have the uninvested cash to do so.
But yeah
Is this to HL or from HL. Someone told me on here if youāre at a loss just sell and rebuy back at the same price and it equals out all be it you still pay all the stamp duty. Fx fees etc all 2x ore more if itās usa.
Not sure if i have to sell and the stocks just get transferredā¦ but if i did have to sell that would be then h and l fees ofĀ£15 a stock so for me would cancel out any money offer from freetrade.
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Ahh I see that would suck right enough. I havenāt experienced another broker other than T212 really but not in depth as well.
The HL JISA is free meaning no account charges or dealing fees. So if you are in the JISA market that makes a big difference. Also HL regular investing is commission free. One has to look at ones overall needs to figure out what is the ābestā for them.
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Agreed. HL is a great option for a JISA. Itās a loss-leader though, as you say people need to assess their own needs but generally speaking I stand by āHL is too expensiveā being a fair statement.
I have my LISA with them. Mainly due to lack of alternative options.
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Yes, my son has a LISA with them too. He does regular investing so commission free and a/c charge is 0.25% capped at Ā£45 per year. Also if you are into funds they are commission free too.
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HLās funds are free to trade but regular investing of stocks, ETFs and investment trusts cost Ā£1.50 per trade.
Reinvesting dividends is free.
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True. But for balanceā¦
The platform fee for funds is capped at Ā£4k in a GIA/ISA, not Ā£200 like stocks/ETFs in an ISA.
Regular investing isnāt applicable to non UK stocks, theyāll cost Ā£11.95 per trade with a 1.5% FX fees. And your UK stocks/ETFs will still cost you Ā£11.95 per trade to sell. Admittedly those fees reduce if youāre dealing in higher volumes.
The HL pricing strategy imo is very much geared at temping you in with some cheap things, and making its money on others. If you only use the cheap things then great, but long term the other costs can add up.
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Moneybox is good for LISA no charge and 4% interest on cash(including gov bonus)
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Thanks for this. According to https://www.moneyboxapp.com/faqs/fees-and-security/fee-breakdown/cash-lifetime-isa? their usual fees apply for the stock and shares LISA. For the cash LISA you are right there is no direct charge ā¦ they make their money on the difference between the third party bank interest and the interest rate they give you. The latter is also how Freetrade earns some of its money.
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