Broker Charges comparison thread

Sippdeal (er, YouInvest) charges here:
http://www.youinvest.co.uk/Sipp/ChargesandRates/
Custody charge: holding above £20,000 -£25 per quarter
Fund Custody charge based upon the total value of funds in our funds universe...0.20% pa (maximum £50 per quarter)

So for a holding >100k, is effectively £300 pa if all your investments are funds, £100pa if none are funds. For me in middle, about £200pa.

Hargreaves Landsdown charges
http://www.hl.co.uk/pensions/sipp/charges-and-interest-rates
Shares 0.45% pa, capped at £200pa
Funds, 0.45%pa on first 250k, 0.25% thereafter
So for a holding of 100k funds is £450pa, for £100k shares is £200pa.

On basis of charges, YouInvest wins. Of course other factors come into play also.

Any other experiences...?

Comments

  • Alliance Trust charge £75pa fixed for any content or value but funds a little restricted
  • HL nearly drove me to place my SIPP with Sippdeal. It was only after HL relented about Investment Trust charges, and after Sippdeal has made a mess on whether a certain fund I like needs Financial Advice that I have decided to stay put for now.

    Another factor to bear in mind are transfer times between platforms. Up to 5 months according to Investors Chronicle. That's pretty scandalous and puts me off transferring to anywhere until the situation improves (or the regulator gets tough).
  • For corporate bonds HL charge 1% for dealing, where YouInvest only charge £9.95. So a £40 difference for a £5K purchase !
  • You can not deal bonds online with sippdeal and they can not give you a fixed price on the telephone which leaves you an at best option , given the wide spreads on some and silly prices on such as lse its not at all helpful.
  • Euro17: Are you sure you can trade corp. bonds with YouInvest? I wrote and asked. They said they could not.
  • Yes, I bought some ICG7 for my wife's SIPP only a couple of weeks ago. Had to do it by phone and the spread was a little bigger than I think I could have got with Selftrade, but was still only charged £9.95.
  • Euro17: I see that I misinterpreted their answer. They wrote that they offered no research.

    Thank you. Their telephone dealing charges are £29.95 which are cheaper than TD Waterhouse & Barclays. Your £9.95 is a bargain unless you're doing many, many, transactions!

    The spread on bonds has always struck me as being too wide. My complaint has been how long it takes for the cash to get from the company, to the nominee and thence to my Selftrade account.
  • djbs: Youinvest only charge £9.95 on Corporate Bond trades, perhaps because you can't trade them online.

    Selftrade always seem to get prices well within the spread, sometimes I have managed to buy at less than the LSE quoted midprice.
  • Euro17: See if you broadly agree with my findings:
    a) no custody fee for YouInvest, £10/quarter if no trade TD Waterhouse, Barclays £12/quarter if no trade. Not the same for Funds.
    b) nobody offers an online corporate bond service; dealing is by telephone only.
    c) YouInvest quote £29.95 for a bond trade but could charge a lot less, TD W charge online rate + £40, Barclays £65 for trade £2,000 - £20,000. Many other likely platforms seem attractive until you see their trading charges. Agree entirely about Selftrade prices.

    YouInvest seem to be OK?

    I recall completing a survey for Fixed Income which include a question asking if I'd support a bond trading platform supported by them. I've not heard any more??
  • djbs : You don't seem to trust me about Youinvest charges ! :-) I sent a secure message :

    'How much do you charge to buy Corporate Bonds on the ORB. As I cannot buy them online, do I have to pay your full telephone charges ?'

    and got the reply :

    'You must place such trades by phone but we will do this at the online rate of commission.'

    I have found this to be true so far.

    I did some research a while ago so can't remember the exact broker comparisons.

    I have a Sipp with Youinvest as they appear to have the lowest charges around and get involved with ORB initial offerings.

    HL have no inactivity fee, so I tend to buy shares online through them, but have also got some corporate bonds through them to spread my portfolio around brokers. I intend to hold the bonds til maturity, so as not to get stung by their trading fees !

    I like Selftrade the best, but they do have a £10 ish per quarter inactivity fee. They nearly always quote prices well inside the published spread and I have never had an issue with an order being filled when trading online. However, things may change when the buyout by Equiniti happens.
  • I've bought corporate bonds and PIBS through YouInvest, both at £9.95.
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