Mr X is a frequent trader who makes approximately 40 trades per month in UK stocks. Through his current stockbroker he pays £5.95 per trade and no annual fee. His portfolio is worth £150,000; he holds no funds.
At first glance Mr X notes that with Frequent Trader he will pay an annual fee of £360. However, on closer inspection, he notes that he currently pays £2,856 a year in dealing charges. Under the Frequent Trader Service his dealing charges would be just £1,200.
By transferring to the Frequent Trader Service Mr X can save himself £1,296 every year.
Mrs Y's current broker has a complex charging structure, with tiers starting at 0.45% for funds. She has an ISA worth £220,000, (£180,000 in 'clean' funds, £30,000 in Investment Trusts & £10,000 in shares), and a general account worth £170,000, (£100,000 in 'clean' funds, £40,000 in Investment Trusts & £30,000 in shares).
On her ISA, her current provider charges: £810 on funds; £45 on Investment Trusts; & £45 on shares. On her general account she is charged: £450 on funds; £45 on Investment Trusts; & £0 on her shares. She averages 2 share trades a month at £11.95 a trade, totalling £286.80 per annum.
She holds £60,000 in special fund classes not available on Frequent Trader, so the equivalent fund is 0.16% more expensive (£96 each year). She takes this off the total charge to compare with Frequent Trader.
The Frequent Trader Annual Fee is £936 plus £24 in share dealing fees (£60 less a £36 Loyalty Rebate). Even adjusting for the special funds, Mrs Y would save £625.80 per annum.
Mr Z currently uses a funds-only fund supermarket through an execution-only discount broker that does not offer any trail commission rebates and has not yet moved to a fee structure. His portfolio of 12 retail class active funds is not held in an ISA and is worth approximately £125,000.
After investigating the fund charges using Frequent Trader, he finds that his Annual Management Charge rebate on retail funds would be 0.75%. However, he has checked his Capital Gains Tax position and chooses to switch into the 'clean' versions of these funds due to the income tax on rebates and to avoid the rebate administration charge. The Annual Management Charges on these funds are also 0.75% less than his current retail versions.
Mr Z currently pays no additional charges with his current service, but notes that using the Frequent Trader platform he would save £637.50. This is a £300 Annual Fee, less a £937.50 reduction in the Annual Management Charges on his funds.
Trade UK shares online for £2.50 a trade, including Main Market, AIM and PLUS. There is no minimum or maximum number of trades for the £2.50 rate, which also covers limit orders, stop losses, debt securities and ETFs. Loyalty rebates for customers with over £500,000 will bring the effective cost per UK online trade down to 50p per trade, for the first 2,000 trades per year.
Prices come direct from the London Stock Exchange's Proquote central trading hub, ensuring competitive spreads. No margin is added to the quotes obtained. Stockbroking and custody services are provided by James Brearley & Sons.
There is no minimum account balance, just ensure you have sufficient funds to cover the Annual Fee of 0.24% (from 1 April 2014 subject to a minimum quarterly charge of £30). This covers both the General Investment Account and ISA.
Most investment funds can be held on the Frequent Trader platform. If a fund you are interested in is not included on our fund list, let us know and we can usually add it.
We provide access to institutional and clean share classes, i.e. those without platform fees or trail commission included within their AMCs. If a retail fund class is re-registered onto the platform all payments from the fund manager to the platform for that holding (trail commissions) are rebated into your account. This can be up to 0.875%. Note for General Investment Accounts only, a 25p administration charge applies to each rebate.
There is no platform charge to buy or sell funds, but our Annual Fee of 0.24% applies, and a small minority of funds carry Supplementary Application Charges. These are clearly shown on our Fund Charges webpage.
The standard Frequent Trader platform offers an outstanding service. But we know that some investors have more complex requirements. That is why we are pleased to offer these Premium Services, which carry extra charges:
Complex Financial Instruments
You can access the following investments by completing an appropriateness assessment:
* These Complex Financial Instruments may also be subject to additional charges.
Joining the Frequent Trader Service is straightforward.
There is no minimum to open an account (but remember the £30 minimum quarterly charge that applies to the Annual Fee of 0.24%).
Just fill out the appropriate application forms and send them in with identification documents to cover our anti-money laundering requirements.
Our How to Apply page will guide you through this step-by-step.
Alternatively, apply now.✔ Apply Online Now
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