The Top 4 UK Based Share Dealing And Stock Trading Accounts

Share dealing in the UK has seen a sharp-increase in popularity over the past ten years. With increased popularity has come an increased amount of account options for customers. Each of these options takes the form of a provider account for both online share dealing and stock trading. The following looks at the top five online share dealing accounts in the UK and should help you figure which one is right for your situation.

The Share Centre

Considered to be the ultimate budgetary options for those wanting to get involved with stock trading. The big plus of The Share Centre is that they don’t operate any minimum or maximum transaction amounts, while their admin charge for the service is just £1.50 (plus VAT) per month. What The Share Centre provides is a low-budget trading platform, which allows those who wish to have complete control of their portfolio to do so with ruthless efficiency. The Share Centre may not offer telephone trading, or a flashy product, but what it does offer is the lowest prices around.

Interactive Investors

Interactive Investor are probably a name you’ve heard of, as they are known to be a consistent performer in the world of online share dealing. Their charges include £5 to £10 per individual trade made, along with a £20 admin charge that is due every quarter. Their admin charge may be considered higher than some others, but with such comes no charges for telephone trades and the use of a UK based helpdesk. Some may scoff at the importance of a UK helpdesk, but many investors would be surprised at just how important it can be in times of crisis.

Hargreaves Lansdown

They are the big boys within the world of online share dealing. Hargreaves Lansdown haS been around for so long that there is no doubt that the company hasn’t just seen it all, but it has done it all as well. The big time approach that the company offers means that admin and trade charges tend to be at the expensive end of the scale. However, for such charges you get unrivalled market access. As an investor, you can get involved in everything from ETFs to covered warrants. When you need consistent variety, Hargreaves Lansdown should be your first choice, but be prepared to pay a premium for such luxury.

Barclays

If you are traditional in approach and wish to trade via a high street bank, then Barclays may have the trading account for you. Their trading charges are fair at between £6 and £12, while their admin charge is similar at £12 per quarter. But, Barclays’ downfall comes from higher than average commissions on phone trades, because at the time of writing it is £17.50. Barclays does offer Price Improver to customers, which delivered 92% of clients a better price than they would have got dealing directly with the LSE. It seems that should you choose Barclays then you need to be prepared to take the rough with the smooth.

CFDs, Spread betting and Forex are leveraged investment products which carry a high level of risk. Please make sure you understand the risks involved before investing as you could use more than your initial deposit. These products are not suitable for everyone and should you have any doubts please seek independent financial advice.