Thinking of opening a new hsbc Online Sharedealing account to transfer some investments from another broker.
They charge a small fee every quarter, which some brokers don't, but it seems quite cheap relative in particular to tose who charge a fee based on a percentage of your assets. Has anyone here a Sharedealing account with them? In particular I am wondering what the execution is like for less liquid securities as I noticed some brokers find you a better price than others. Also I guess that since service is part of HSBC bank it should be very safe(?)
UK investors: anyone using HSBC Online Sharedealing?
UK investors: anyone using HSBC Online Sharedealing?
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Re: UK investors: anyone using HSBC Online Sharedealing?
You'll probably get more responses from a UK-focused site (quantity, but not necessarily quality!). For example, lemonfool or moneysavingexpert. For now, this page offers a quick comparison of charges:
Compare the UK's cheapest online brokers - Monevator
HSBC Sharedealing are okay-ish on charges , and certainly look like they should be safe enough as a custodian. HBOS beats them on price though, and you would I think also expect them to be a safe pair of hands. And unlike HSBC Online Sharedealing, an HBOS account lets you access funds and OEICs as well as shares, ETFs and investment trusts.
Or how about iWeb? It's a rebadged HBOS -- as is Lloyds Sharedealing, FWIW -- so full market access; shares, ETFs, funds, OEICs etc. Relative to HSBC Sharedealing, you would recoup your iWeb £100 opening fee and start to come out ahead in under two and a half years, with lower trading charges too. FWIW, I use iWeb for my ISA and unwrapped trading account, and find them absolutely fine. I don't have any individual shares though, either less liquid or otherwise, so can't comment on their effectiveness in that area.
Compare the UK's cheapest online brokers - Monevator
HSBC Sharedealing are okay-ish on charges , and certainly look like they should be safe enough as a custodian. HBOS beats them on price though, and you would I think also expect them to be a safe pair of hands. And unlike HSBC Online Sharedealing, an HBOS account lets you access funds and OEICs as well as shares, ETFs and investment trusts.
Or how about iWeb? It's a rebadged HBOS -- as is Lloyds Sharedealing, FWIW -- so full market access; shares, ETFs, funds, OEICs etc. Relative to HSBC Sharedealing, you would recoup your iWeb £100 opening fee and start to come out ahead in under two and a half years, with lower trading charges too. FWIW, I use iWeb for my ISA and unwrapped trading account, and find them absolutely fine. I don't have any individual shares though, either less liquid or otherwise, so can't comment on their effectiveness in that area.
Re: UK investors: anyone using HSBC Online Sharedealing?
Would HBOS or IWeb be better brokers for us instead of IBKR?
KISS & STC.
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Re: UK investors: anyone using HSBC Online Sharedealing?
No. They only offer accounts to UK residents (but because of FATCA, excluding US citizens living in the UK).
https://www.halifax.co.uk/assets/pdf/fi ... dconds.pdf
https://www.iweb-sharedealing.co.uk/ass ... itions.pdf
And before you ask(!), HSBC Sharedealing has the same restrictions:
https://www.hsbc.co.uk/investments/prod ... st-direct/
Re: UK investors: anyone using HSBC Online Sharedealing?
I recommend Interactive Investors. It is a proper broker and flat rate regardless of total assets held with them.
Get your first year of the service fee free if you use the refer-a-friend scheme : https://www.ii.co.uk/ii-for-friends
(I can refer you, at your choice, if you message me)
Get your first year of the service fee free if you use the refer-a-friend scheme : https://www.ii.co.uk/ii-for-friends
(I can refer you, at your choice, if you message me)
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- Posts: 5166
- Joined: Mon Jun 04, 2007 4:19 pm
- Location: UK
Re: UK investors: anyone using HSBC Online Sharedealing?
They're certainly not a bad choice overall. I use them for my SIPP.
However, at £9.99/month they are nearly £78/year more than the HSBC offering that the topic author is looking at. Interactive Investor's basic fee does include one trade each month though, which would put them ahead if you were to trade more than eight times every year.
Re: UK investors: anyone using HSBC Online Sharedealing?
HSBC's choice of funds is limited though, which is why I prefer a broker that gives me choice for when I want it.TedSwippet wrote: ↑Sun Apr 11, 2021 1:11 pmThey're certainly not a bad choice overall. I use them for my SIPP.
However, at £9.99/month they are nearly £78/year more than the HSBC offering that the topic author is looking at. Interactive Investor's basic fee does include one trade each month though, which would put them ahead if you were to trade more than eight times every year.