Best brokers for active ISA and SIPP traders

This is a discussion on Best brokers for active ISA and SIPP traders within the First Steps forums, part of the Reception category; Greetings fellow traders. I wonder if I could pick your collective experiences.... Long story short I need to find some ...

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Old Jul 10, 2013, 12:39pm   #1
 
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Joined May 2013
Best brokers for active ISA and SIPP traders

Greetings fellow traders.
I wonder if I could pick your collective experiences.... Long story short I need to find some new brokers to handle my accounts. I am a seasoned investor / trader, UK based and have been running long equity strategies for many years. I have already been gearing up to broaden my investment horizon and this has coincided with my need to find a new broker/brokers, as it happens. So, who do you guys use for execution of your trading in your ISAs / SIPPs and oridinary accounts? I tend to place 100 or so trades a month but can easily do 300+ per month if the market conditions suit me - low costs and an easy platform are going to be important.
Anyone got any suggestions?
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Old Jul 10, 2013, 1:13pm   #2
Joined Feb 2012
Re: Best brokers for active ISA and SIPP traders

Quote:
Originally Posted by HarbyTrage View Post
Greetings fellow traders.
I wonder if I could pick your collective experiences.... Long story short I need to find some new brokers to handle my accounts. I am a seasoned investor / trader, UK based and have been running long equity strategies for many years. I have already been gearing up to broaden my investment horizon and this has coincided with my need to find a new broker/brokers, as it happens. So, who do you guys use for execution of your trading in your ISAs / SIPPs and oridinary accounts? I tend to place 100 or so trades a month but can easily do 300+ per month if the market conditions suit me - low costs and an easy platform are going to be important.
Anyone got any suggestions?
I use iWeb, £5 a trade for UK and international shares, and no annual fees on the ISA. Sipp has a fee. I guess that would add up to quite a lot of charges with 100-300 trades a month though.
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Old Jul 10, 2013, 2:01pm   #3
Joined Jan 2013
Re: Best brokers for active ISA and SIPP traders

Quote:
Originally Posted by HarbyTrage View Post
Greetings fellow traders.
I wonder if I could pick your collective experiences.... Long story short I need to find some new brokers to handle my accounts. I am a seasoned investor / trader, UK based and have been running long equity strategies for many years. I have already been gearing up to broaden my investment horizon and this has coincided with my need to find a new broker/brokers, as it happens. So, who do you guys use for execution of your trading in your ISAs / SIPPs and oridinary accounts? I tend to place 100 or so trades a month but can easily do 300+ per month if the market conditions suit me - low costs and an easy platform are going to be important.
Anyone got any suggestions?
contact saxobank they have a SIPP product where you can trade through their multi-asset platform.
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Old Jul 10, 2013, 3:17pm   #4
 
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Re: Best brokers for active ISA and SIPP traders

HarbyTrage started this thread
Quote:
Originally Posted by ryandj2222 View Post
I use iWeb, £5 a trade for UK and international shares, and no annual fees on the ISA. Sipp has a fee. I guess that would add up to quite a lot of charges with 100-300 trades a month though.
Thank you, iWeb is one that had come up in my research as offering low transaction cost - how do you find them? what is their platform like to use in practice? straightforward placing trades? I think iWeb are what used to be Halifax, aren't they? iWeb is definately one I am going to consider so any further comment you (or anyone else) can offer would be welcome.

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Originally Posted by cablemonster View Post
contact saxobank they have a SIPP product where you can trade through their multi-asset platform.
Saxobank is another that had come up in my research that looked interesting - thanks, I will look at them a bit more closely.

I also see that Interactive Brokers offer a SIPP facility - a couple of my friends use IB and they are another I am considering. Again, I would welcome any thoughts here.
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Old Jul 10, 2013, 3:21pm   #5
Joined Feb 2012
Re: Best brokers for active ISA and SIPP traders

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Originally Posted by HarbyTrage View Post
Thank you, iWeb is one that had come up in my research as offering low transaction cost - how do you find them? what is their platform like to use in practice? straightforward placing trades? I think iWeb are what used to be Halifax, aren't they? iWeb is definately one I am going to consider so any further comment you (or anyone else) can offer would be welcome.



Saxobank is another that had come up in my research that looked interesting - thanks, I will look at them a bit more closely.

I also see that Interactive Brokers offer a SIPP facility - a couple of my friends use IB and they are another I am considering. Again, I would welcome any thoughts here.
I've been happy with iWeb. It is run by Halifax sharedealing, a whitelabel version of it I think. I used to use their standard one but the dealing costs were higher and iWeb is the exact same system. I think the SIPP fee is about £60 a quarter but ISA has no fee (one off set up fee applies I think). Their system seems to work. I have had a couple of occasions where the dealing screen won't load, but it seems to be only when in Chrome. Internet explorer always works ok.

The trade plan stuff is good for my needs, you can have trailing stops, limit orders, stop loss and also "range trading" orders.

I don't trade any where near 100 times a month though. Maybe ~20-30 times.
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Old Jul 20, 2013, 12:58pm   #6
Joined Aug 2003
Re: Best brokers for active ISA and SIPP traders

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Originally Posted by HarbyTrage View Post
I also see that Interactive Brokers offer a SIPP facility - a couple of my friends use IB and they are another I am considering. Again, I would welcome any thoughts here.
I have a SIPP using IB and find it great especially if you want to trade US stocks or futures or in fact any worldwide exchange.

Brit
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Old Aug 1, 2013, 1:10am   #7
Joined Oct 2012
Re: Best brokers for active ISA and SIPP traders

Hi folks
i am also looking to set up a SIPP. I want to trade US options but not sure if this is allowed in a SIPP. I not then hargreaves lansdown seem competitive on fees. I found interactive brokers trading quite complex but that was about 3 years ago.
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Old Aug 2, 2013, 5:01pm   #8
 
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Joined May 2013
Re: Best brokers for active ISA and SIPP traders

HarbyTrage started this thread I can't see why you wouldn't be allowed to trade Options in a SIPP, so long as you are not writing naked. Whether you can actually find someone who will allow you to do so is another matter! I am surprised how difficult I am finding it just to find someone who will allow me to trade forex in a SIPP at sensible margin (Alpari and Saxo Bank seem viable so far - anyone else got any suggestions?).
What sort of strategies are you using for your Options, as that may make a difference? and when you say US options are you talking options on US stocks or just refering to US exercise style options in the UK?

From the phonecall I had with IB this afternoon, it seems they WON'T let you trade forex within their SIPP offering... anyone got any thoughts on Forex in SIPPs?
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