So I looked into this T212 ISA it would cost me almost Ā£600 in US security transfer fees so about 5yrs before I see any savings taking into account the Plus sub. And thatās assuming their ISA product stays free. Alternative is to move as cash but far from ideal as thatās another fx hit, a lot of missed dividends and the possibility of getting hosed on price volatility.
yrs ago they wouldnt let me open an account, I forget whyā¦and now iām not seeing the upside. Still pretty happy with the FT offering as I use the SIPP so it works for now.
The high costs in my cased are caused by a high volume of emotional transactions. As my investment approach get healthier, the transaction costs become less and less relevant, and FT just fine.
T212 would offer me a safer space to take more risk and keep cash idle, at a low cost. I would not want a card to spend my idle money on FT, I hardly keep any idle money as opportunities are everywhere and it never lasts long. Cards and investment are best kept separated, at least to some extent
Also, one of my kids could start using T212 and I want to be able to advise, if and when needed.
Finally, without giving up my age, different generations tend to be confortable on different platforms. FT is a very good match for mine in many ways, including the community forum (that is part of the package)
Can I ask all of you who jump ships a lot etc do you all have very large portfolios? I always see people come and go but wonder if itās the size of the pots you have that make for crazy differences and worth the move.
For me I donāt have a big enough portfolio to justify a move but yes I know pennies make pounds but Iām also happy here and Iām still learning about investing so unless something crazy happens I wonāt be moving
The same applys for bank account jumping etc I know people do it for the free cash etc
Hi , Has anybody used IWeb. I thinking of opening an isa there this year as its free but Ā£5 to trade. I have isa FT and T212 but Im sick of both of these when trying to trade in penny shares, it just takes forever. If anybody has experience of using IWeb will be much appreciated ty
Whatās your issue exactly? Penny stocks might not have much liquidity if people arenāt buying or selling so may be part of the reason it take a little longer to get a buyer ā¦
212 I know may restrict buying in certain ways, thatās not a thing on Freetrade
Your best off using IBKR, especially for penny stocks and OTC trading execution. You will need permission from IBKR to trade OTC stocks, the criteria is quite strict and rightly so.
More about owing multiple ISA S&S accounts: it makes me more stressed, without any significant benefits to justify or balance it. Maybe an invested capital with 1 or 2 more digits would change my perspective, and make it look like a second job. Not there yet.
Iāll probably end up reverting back to just one ISA S&S account.
I opened an ISA with I-Web. Itās early days so I canāt comment about how good they are just yet.
I opened them as they are one of the few cheap-ish brokers that offer voting on UK listed shares. This was and is what attracted me to open an account.
I donāt trade penny stocks so canāt comment on that aspect.
From first glances, they appear to be a bare bones does what it says on the tin broker. No nonsense and no grills at the same time, you could say.
They have cheaper fees then other brokers within Lloyds Banking group and this appears to resolve around the fact that the account is mostly an online based account.
Etoro was my first forey into investing and trading back in 2017, still have a fair chunk invested on the platform, even tho I very rare use it now adays,
if they bring out an ISA tho will even more people move there
Iād imagine they want to moderate transfers both in and out.
To be fair the broker is more or less free to use, albeit with a few minor exceptions.
Iād imagine that part of the way they manage to keep things more or less free is to be economical with how many staff they have on the books.
If this is true, then theyād want to manage all transfers both in and out in order to prevent a small team, or smaller team from being overwhelmed by large and unworkable workload.
Hmmm Iād doubt it would be closed by AJ Bell. But Iām open minded to the possibility.
While there is a train of thought that AJ Bell could do more with Dodl, theres also the train of thought that itās simplicity and a simplified amount of things you can invest in could be seen as a positive.
Of course that would depend on the views of the user, or potential user
I absolutely think that although itās not the best neo broker out there, AJ Bell were absolutely right to have an offering in the neo broker space.
Itās safe to say there is a trend among younger age groups where they are happy to use a mostly or purely digital broker in exchange for low fees.
I think Hargreaves Landsdown is behind the curve somewhat in that they donāt have any neo broker offering.
Yes the competition in the neo broker space is tight, but as someone who works in the industry, I see this is the direction of travel.
Gone are the days where people are overly happy to pay high fees.
Yes back in the 1980ās when youāre only options were paper share certificates (with high fees by default, sometimes eye wateringly high) using your banks stockbroker, or someone like HL, who was likely revolutionary cheap back in those days in comparison. Back then I suspect people would be more likely to be willing to pay the fees that were on offer due to limited options for āretailā shareholders back in those days.
Since the advent of the neo broker era, those days are long behind us, and we are moving into a new era
