Need Help to find a Broker

[Fran8]

Hello

I will invest approximately £100 a month, and the services that I require for the dealing of the shares is “Execution Only”. I will invest in shares, and Im a long term investor "buy & hold". i leave in the Uk and I wil open an Stock ISA Account, and I had a look at Barclays Stockbrokers, Td Waterhouse, SelfTrade, E Trade and all the typicals one. I foun that because I will not be doing many trades because of my strategy the trades are expensive and the accounts are also expensive.

Please can anyone help me out and give me other options and if not tell me if they are really the cheap ones

Thanks very much
Kind Regards

 

[sharkingtrader]

Selftrade is not a reliable online stockbroker. Imagine trying to exiting or buying a trade on equities, CFDs or Spreadbettting. Twice in April 2009 I tried to sell or buy shares and their online system crashed.

Best to go with online stockbrokers specialising in one field or register with more than one stockbroker. Jack of all trades like selftrade are suffering from an inadequate system which can't handle large volumes of trades on a busy day. Don't put your eggs in one basket you are exposing yourself to the operational risk of trading.

Like today selftrade commented on a response:"

10am update. 30 April 2009.

We are currently experiencing system issues resulting in slow response times. Please call our Customer Service Team on 0845 0700 720 and we will capture your orders.

We apologise for this service failure and we are working with our IT partner to resolve this as quickly as possible.

 

[Fran8]

Yesterday someone on the forum recommend me to use Interactive Stockbrokers and other guy Share Centre. What do you think about them?

 

[Chorlton]

Yesterday someone on the forum recommend me to use Interactive Stockbrokers and other guy Share Centre. What do you think about them?

IMO.... Keep it simple and just go for one which offers the cheapest Commissions.

Afterall, if you're investing only 100GBP per month and intend to be trading then your share parcels will be relatively small and consequently, the costs of comms could eat into your potential profit quite a lot.

In addition, execution time and slippage is not going to be an issue for you as you intend to follow a "Buy And Hold" strategy and hold them for a relatively long time so missing a few points will have minumum impact.

Chorlton

 

[Fran8]

Can you recommend any stockbroker? with very low comissions

 

[anley]

Somebody like Halifax as they can bunch orders together (I think). Otherwise if you only invest £100 a month even very cheap commissions will be very very expensive.