UK investors: anyone using HSBC Online Sharedealing?

For investors outside the US. Personal investments, personal finance, investing news and theory.
Sister forums: Canada, Spain (en español)
---------------
Post Reply
User avatar
Topic Author
steve321
Posts: 954
Joined: Sat Sep 09, 2017 9:16 am
Location: Southampton, UK

UK investors: anyone using HSBC Online Sharedealing?

Post by steve321 »

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(?)
Success does not bring happiness. In fact, happiness IS success. | 'There are only two tragedies in life: one is not getting what one wants, and the other is getting it.' Oscar Wilde
TedSwippet
Posts: 5166
Joined: Mon Jun 04, 2007 4:19 pm
Location: UK

Re: UK investors: anyone using HSBC Online Sharedealing?

Post by TedSwippet »

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.
User avatar
galeno
Posts: 2653
Joined: Fri Dec 21, 2007 11:06 am

Re: UK investors: anyone using HSBC Online Sharedealing?

Post by galeno »

Would HBOS or IWeb be better brokers for us instead of IBKR?
KISS & STC.
TedSwippet
Posts: 5166
Joined: Mon Jun 04, 2007 4:19 pm
Location: UK

Re: UK investors: anyone using HSBC Online Sharedealing?

Post by TedSwippet »

galeno wrote: Sun Apr 11, 2021 12:14 pm Would HBOS or IWeb be better brokers for us instead of IBKR?
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/
ohit1
Posts: 20
Joined: Mon Sep 30, 2019 8:20 am

Re: UK investors: anyone using HSBC Online Sharedealing?

Post by ohit1 »

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)
TedSwippet
Posts: 5166
Joined: Mon Jun 04, 2007 4:19 pm
Location: UK

Re: UK investors: anyone using HSBC Online Sharedealing?

Post by TedSwippet »

ohit1 wrote: Sun Apr 11, 2021 1:00 pm I recommend Interactive Investors. It is a proper broker and flat rate regardless of total assets held with them.
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.
ohit1
Posts: 20
Joined: Mon Sep 30, 2019 8:20 am

Re: UK investors: anyone using HSBC Online Sharedealing?

Post by ohit1 »

TedSwippet wrote: Sun Apr 11, 2021 1:11 pm
ohit1 wrote: Sun Apr 11, 2021 1:00 pm I recommend Interactive Investors. It is a proper broker and flat rate regardless of total assets held with them.
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.
HSBC's choice of funds is limited though, which is why I prefer a broker that gives me choice for when I want it.
Post Reply