Online Brokers

Thanks Steve,

Reassuring to hear. Actually I have no fears about iDealing either, I just felt it was only fair to express concerns I've seen posted elsewhere from time to time.

Stockholdings are clearly safe, but any delay in sorting out a collapse at iDealing could effectively preclude one from trading ones stocks for some time, and that would be a worry. I'm not trying to scare monger, I do a lot of business with them, and have accepted the marginal additional risk associated with a small, privately backed broker.

Thanks again for the welcome,

Charlie
 
Hi All,

I note that this thread appears to have dried up several years ago, I just wondered, that with the "demise" of Schwab if it was worth looking at peoples thoughts on the current availablility of Internet dealers. This is of particular interest to me as I am currently with Schwab and would be interested in the views of others out there with regards to service and prices etc.

Look forward to any responses.

Regards, Dave
 
Hi Brycheiniog

Welcome to T2W :)

I'm not sure if you know, but Schwab has been taken over by Barclays Stockbrokers, and my experience of Barclays isn't the greatest in the world.

I think the best bet is www.idealing.com . Especially as they have limit and stop orders. :)

Hope this helps
 
Thankyou FTSE Beater,

Yes I am aware that Barclays is taking Schwab over, hence the reason for me looking around!;-)

Regards,

Dave
 
Brycheiniog said:
I am currently with Schwab and would be interested in the views of others out there with regards to service and prices etc.
Click to expand...

Dave,

I'm also with Schwab, and so this concerns me too. I also have an account with Comdirect, and in general they are good.

However, there are weaknesses compared to Schwab. Comdirect, and most other online brokers are fine if you are trading liquid stocks, such as SETS stocks, and are not trying to trade at or near the NMS on stocks with wideish spreads. Schwab consistently get me better prices on larger quantities than Comdirect manage in these cases.

Also Schwab automatically send me all correspondence, reports etc from all the stocks I hold, which Comdirect won't do.

Both of these are probably not issues that affect those who trade rather than hold for longer periods, so they may not affect you. If they don't I'd have no problem recommending Comdirect. However, if they do matter, I haven't been able to find an online broker who can match what Schwab provides, so for now I'm just going to have to wait and see just what they come up with.
 
Thanks for the input Peter,

It appears that they all have pros and cons of some description, and the method in which one trades will decide on the eventual choice of supplier as usual!:confused:

Regards,

Dave
 
If anyone is still looking for an on-line dealing service Sharecrazy is good at £9 per trade. You can also set limits and the helpdesk will not charge any extra for telephone dealing.
 
Interactive Brokers offers UK stocks at 0.1% with a £5.00 minimum per trade they are probably the cheapest out there for deals under 9k. I think they only cover SETS names though.

I use them for e-minis and the fills are very quick.
 
ok to join and use two or three diff online brokers?

I made a coupla trades with selftrade.
Then i discovered hoodless brennan, and made my latest trade with them.
Hoodless is slightly cheaper. For the normal trade cost.

I bought some shares yesterday. Eg the price on yahoo finance and on selftrade was 6.15p
but the price on hoodless was 6.25p.....why is this? were they compensating for the reduced commission cost, so bumping the price to buy a little?

Also one of my stocks on selftrade was valued at £715, but when i tested this, and tried to sell it, i was offered like £680, after a few attempts. If it is valued at £715 market value, why was i getting offered a much less offer, when selling????
 
jonboy123 said:
ok to join and use two or three diff online brokers?

I made a coupla trades with selftrade.
Then i discovered hoodless brennan, and made my latest trade with them.
Hoodless is slightly cheaper. For the normal trade cost.

I bought some shares yesterday. Eg the price on yahoo finance and on selftrade was 6.15p
but the price on hoodless was 6.25p.....why is this? were they compensating for the reduced commission cost, so bumping the price to buy a little?

Also one of my stocks on selftrade was valued at £715, but when i tested this, and tried to sell it, i was offered like £680, after a few attempts. If it is valued at £715 market value, why was i getting offered a much less offer, when selling????
Click to expand...

Do we have to keep refreshing the browser? or just keep trying to BUY shares, to get the Ask price offer? Sometimes i click to buy, cancel, and then when i click second time, its diff price. Does a potentinal BUY have an affect on the share price?

And do the share prices only get updated like every 15 mins? on the websites like selftrade, hoodless, barclays.
I dont wanna have to pay for level 2 live price feed just yet, as i just dont have the time or skill to trade like that yet.
 
Is anyone using iDealing currently. If so can you advise whether they allow stop losses on US positions and are these posted electronically or do they need to be done manually by the trade desk? Selftrade for some reason will only handle them manually up until 7pm - seems archaic in this day and age.
 
jonboy123 said:
Do we have to keep refreshing the browser? or just keep trying to BUY shares, to get the Ask price offer? Sometimes i click to buy, cancel, and then when i click second time, its diff price. Does a potentinal BUY have an affect on the share price?

And do the share prices only get updated like every 15 mins? on the websites like selftrade, hoodless, barclays.
I dont wanna have to pay for level 2 live price feed just yet, as i just dont have the time or skill to trade like that yet.
Click to expand...

Hi jonboy,

I also use Selftrade who I find very good for prices and quote sizes compared to other brokers I have used.
On the valuation page the price used could be the mid-price. When you get a sell quote that will be the bid price which is usually lower than the mid-price.
I use moneyam.com for live prices with no delay, which is free. Don't use delayed feeds, no point.
 
I reckon InteractiveBrokers to be one of the best online brokers.
I don't use it, but references are plenty and good.
Remarkable the wide offer of products.
 
selftrade started charging admin fees.

TDWaterhouse charge quarterly fees.
Hoodless is closed.

Are there any alternatives? that are cheap/reputable with no non-trading fees?
 
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