The Best Online Execution UK Stockbroker

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Old May 5, 2009, 11:00am   #1
Joined Apr 2009
The Best Online Execution UK Stockbroker

Can anyone please advise me on some good online UK stockbrokers:

My critieria:

1. A Robust System. Should be able to trade in busy market conditions. Mornings at 8am.

2. Low transaction cost. My limit is £12.50 per trade, can this be bettered?

3. No inactivity fees.

4. No management fees.

5. Good corporate actions department.


I am fed up with Selftrade. They are a financial liability, whereby not allowing me to buy and sell shares at the best market price; I'm losing out big time. This is the result of their IT system breaking down most mornings.

For example:

----------------------------
Service Temporarily Unavailable
The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.

---------------------------
5 May 2009 - 10am update.

We're experiencing slow system performance this morning. We've identified the source of the issue with a third party order flow provider that we, along with a number of other brokers, use to receive share prices. We've been in constant contact with them since market open and as of 9.40am they've confirmed they've identified the source of the problem and deployed a fix to their system. We are constantly monitoring the interaction between our system and the third party provider but in the meantime to aid improvement of our performance, as at 10am, we've turned off Limit Order Manager. We will reintroduce this as soon as possible.

Please continue to call our Customer Service Team on 0845 0700 720 to place your manual orders, at best on a best endeavours basis.

We apologise that we're not able to fully service your business and thank you for your patience whilst we resolve this matter with the third party provider.


---------------------------

Last edited by sharkingtrader; May 5, 2009 at 12:04pm.
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Old May 5, 2009, 1:16pm   #2
 
2 Posts
Joined Apr 2009
Quote:
Originally Posted by sharkingtrader View Post
Can anyone please advise me on some good online UK stockbrokers:

My critieria:

1. A Robust System. Should be able to trade in busy market conditions. Mornings at 8am.

2. Low transaction cost. My limit is £12.50 per trade, can this be bettered?

3. No inactivity fees.

4. No management fees.

5. Good corporate actions department.


I am fed up with Selftrade. They are a financial liability, whereby not allowing me to buy and sell shares at the best market price; I'm losing out big time. This is the result of their IT system breaking down most mornings.

For example:

----------------------------
Service Temporarily Unavailable
The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.

---------------------------
5 May 2009 - 10am update.

We're experiencing slow system performance this morning. We've identified the source of the issue with a third party order flow provider that we, along with a number of other brokers, use to receive share prices. We've been in constant contact with them since market open and as of 9.40am they've confirmed they've identified the source of the problem and deployed a fix to their system. We are constantly monitoring the interaction between our system and the third party provider but in the meantime to aid improvement of our performance, as at 10am, we've turned off Limit Order Manager. We will reintroduce this as soon as possible.

Please continue to call our Customer Service Team on 0845 0700 720 to place your manual orders, at best on a best endeavours basis.

We apologise that we're not able to fully service your business and thank you for your patience whilst we resolve this matter with the third party provider.


---------------------------
I am totally with you on that one, selftrade is driving me crazy.
Would really appreciate some advice, thanks.
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Old May 5, 2009, 5:12pm   #3
 
1 Posts
Joined Jul 2008
I've been with Hoodless Brennan for a few months now, cheap (8 quid) and I've had no problems. So far.
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Old May 8, 2009, 4:41pm   #4
 
9 Posts
Joined Jan 2009
Fool.co.uk , £10 trades, no account or inactivity fees, reasonable corprate actions service.
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Old May 19, 2009, 11:59am   #5
 
6 Posts
Joined Nov 2008
Ditto

Same here and no reasonable response from customer services.

How does barclays stand up?
Futumpch is offline   Reply With Quote
Old May 19, 2009, 10:00pm   #6
Joined May 2009
i saw a post on moneysavingexpert that hoodless benan are not very reliable during peak times...
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Old May 20, 2009, 9:26am   #7
Joined May 2009
Quote:
Originally Posted by plasternipple View Post
I've been with Hoodless Brennan for a few months now, cheap (8 quid) and I've had no problems. So far.
mate do you encouter problems when you place stop limits or buy in penny shares?
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Old May 21, 2009, 9:25pm   #8
Joined Jan 2009
I use E*TRADE for active trading in my Self Select ISA

To date, I have not had a problem trading at any time of day at best price and my limit orders have been filled too without issue both buying and selling. Best and limit are the only orders at present but they tell me other orders are coming on line this summer - Stop Loss, trailing SL etc.

Only once in 3 months has the site been down when I logged in and this was on a weekend. Customer support are also very responsive via email and in my experience phone wait is low, although I have had little cause to ring them.

The key for me are the commissions. Each calender month fees are:
Trades 1-5 £11.95
Trades 6-19 £9
Trades 20+ £7

Once you qualify for a commission level, you keep it until the end of the next calendar month, meaning you don't have to re-qualify at the start of each month. This means I would normally get £7 as I usually trade 20+ times a month, but at worst that would be £9.

There is a small £4.13+VAT monthly inactivity fee unless you trade once within 3 months. My Self select ISA monthly product management fee is £2.13+VAT, which is small beer for 20+ trades at £7 imho.

Also for 20+ trades you get free access to live streaming and market data, and they are introducing revamped tools with free Level 2 data, coming soon.

I am considering taking out a SIPP with them as soon as I have tested their transfer in ability by moving an older ISA over to them.

Overall, it is excellent value for money for anyone who trades at least 5 or 6 times a month and wants a no fuss system that does what it says on the tin.
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