Which Share Dealing Service Should I Use?
How to select a share dealing service?
When considering a share dealing provider there are lots of factors that may influence your decision.
Some of the common reason why a service is selected are:
- Cost per trade – If you plan to trade on a regular basis what you pay per trade can add up over time. Many share dealing services reward you if you deal over a certain amount of times per month. Interactive Investor charge a fixed fee per month for their service which allows you to get a lower cost per trade which may work for you.
- Functionality – Looking for the latest functionality or research tools? Some share dealing platforms put alot of investment into tools and features that you may or may not value.
- Mobile features – If you need to be kept up to date at all times then some providers offer better apps than others.
- Investment coverage – If you are trading solely UK listed companies then no need to consider platforms that offer every market.
- Advanced tools – For serious traders access to Level 2 prices may be a must. This may be an additional cost with some platforms.
- Security – How seriously does the platform take security?
The share dealing service you select should be aligned with your investment requirements. A low cost per trade headline is good if you are looking to trade frequently, not so useful if you only plan to trade a couple of times a month.
1. Fineco Bank
Fineco offer low cost trading from £2.95 per trade.
Get 50 Free Trades For 2 Months*
*Terms Apply (See Fineco Bank website for details)
Access to over 26 markets Finecobank offer a serious online share trading platform for serious traders.
Voted “Best Live Trading Events 2020” by ADVFN, they have a top rated mobile app which is perfect for traders on the go (although maybe not so necesary during lockdown!). They offer professional trading tools which for serious traders takes your trading to the next level offering interactive charting, customisable timeframes and technical indicators. They offer acess to UK, EU and US markets. They offer news feeds from Reuters, MF-DJ, Twitter and more.
Founded in 1999 Fineco are one of Europe’s largest banks listed on the Euro Stoxx 600. They are a authorised bank by the Bank of Italy and fully regulated by the FCA and PRA. With 1.3 million clients in Italy they have financial assets of €81bn.
2. Interactive Investor
With ii you pay a fixed £9.99 fee pm and then you pay from £7.99 per trade for UK and US shares and ETFs. For other international shares you pay £19.99 per trade. For active investors you pay a fixed £19.99 pm and then £3.99 per trade for UK shares and ETFs. For US shares £4.99 per trade and £9.99 for other international shares per trade.
Voted by ADVFN “Best Low Cost Stockbroker” 2020, ii offer over 40,000 UK and global stocks across 17 stock exchanges. You can reduce your FX costs by managing money in up to 9 currencies. Access to award winning Quotestream, Level 2 streaming prices.
ii are the number one flat fee investment platform in the UK with £30bn of assets under administration and over 300,000 customers. With offices in London, Leeds and Dundee they employ over 500 people.
Review of the ii share dealing app:
Ideal for use with the ii trading, ISA and SIPP accounts, their app is available for iPhone® and Android devices. The ii app is as safe and secure as trading online, and by using your existing username and password you can trade, get quotes and manage your portfolio with a touch of a button. Latest update includes: Face & Touch ID – fast and secure access to your account and Secure Messaging.
£7.99 a month
Using the Investor Service Plan
Frequent Trader Rate
From £7.99 using the Investor Service Plan
No transfer or exit fees. From £7.99 using the Investor Service Plan
Using the Investor Service Plan
3. Hargreaves Lansdown
Hargreaves Lansdown offer trading from £5.95 per trade.
Voted “Best For Share Dealing” in 2019 by Boring Money. With HL you get free live share prices with stop loss and limit order functionality, with access to a range of technical analysis tools. HL provide expert research and share alerts. Their trading platform offers 8 customisable display options.
HL was founded in 1981 and serves over 1.2m customers with £105bn under administration. HL are a FTSE 100 Company based in Bristol employing over 1500 people.
4. AJ Bell
AJ Bell Youinvest offers low cost trading from £4.95 per trade.
Voted by Which? “Recommended Provider” in 2019, AJ Bell offer a wide choice of investments including shares, funds and investment trusts. You can trade shares in 24 international markets. AJ Bell offer a range of investment tools, videos and research to support your trading.
According to Which? AJ Bell reported more than 17,000 new account openings for its YouInvest consumer platform in the first 3 months of this year, making it a record quarter for the firm. The platform provider saw a 9% increase in new customer platform growth.
AJ Bell is one of the UK’s largest online platforms with assets of £48bn under administration for 250,000+ customers. In 2019 they won the Which?
IG offer a low cost trading from £3 per trade. Buy and sell over 12,000 international stocks.
Voted winner “Best Trading App” Investors Chronicle Investment Wealth Management Awards, IG offer extensive functionality through their trading platform. IG provide advanced platforms and charting including L” dealer, ProRealTime and MT4 with a full suite of alerts and risk management tools. IG also provide free trading courses and webinars as well as an online community where you can share ideas.
Founded in 1974, IG are a FTSE 250 company authorised and regulated by the FCA. They have 1,5500+ employees and a £1.98bn market cap.
Compare Share Dealing Services On UK Shares
|Interactive Investor||£9.99 pm flat fee, then £7.99 or £3.99 for frequent traders|
|Hargreaves Lansdown||£11.95 reducing to £5.95 if you traded 20 times in prior month|
|AJ Bell||£9.95 reducing to £4.95 if you traded 10 times or more in prior month|
|IG||£8.00 reducing to £3 if you traded 3+ times in previous month|
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Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.