Urgently need a decent UK broker

[jamezz34]

I know iDealing is pretty good. You can get level 2 SETS stocks with them.

London Stock Exchange publishes a list of DMA providers

 

[strokey tone]

I have dealt with several brokers and had had a terrible experience with the last one I used who got me involved with CFD trading which lost me over £12,000 in less than 12 months and they charged me well in excess of this in costs, I would agree with split links comments that most brokers are only interested in how much in they can make out of their clients and how much leverage they can get the client to take!
Also avoid White Label agreements where brokers crib the service of a reputable bank and hide behind the banks reputation whilst charging the client a fortune for a service that is available by dealing directly with the bank at much less cost!
I would recommend dealing direct with Saxo Bank and use their execution only service as it is excellent and their staff are so helpful and nothing is to much trouble for them, not to mention the very reasonable dealing charges.

 

[Sidekicker]

I have dealt with several brokers and had had a terrible experience with the last one I used who got me involved with CFD trading which lost me over £12,000 in less than 12 months and they charged me well in excess of this in costs, I would agree with split links comments that most brokers are only interested in how much in they can make out of their clients and how much leverage they can get the client to take!
Also avoid White Label agreements where brokers crib the service of a reputable bank and hide behind the banks reputation whilst charging the client a fortune for a service that is available by dealing directly with the bank at much less cost!
I would recommend dealing direct with Saxo Bank and use their execution only service as it is excellent and their staff are so helpful and nothing is to much trouble for them, not to mention the very reasonable dealing charges.

Probbaly more like you lost the 12 rather than your broker.

 

[Sidekicker]

I'm trying to give you some useful food for thought. Ask advice from Barjon, because I know that he is a trader of UK stock. I used to be but have drifted onto index trading. That is not, necessarily, a hint that you should do the same. You are thinking of UK stocks, so investigate it before you move on.

Mr. Charts trades US stocks. Ask him, as well, why he does not do UK ones. These are established posters who will tell you, sensibly, what they think.

Brokers drummed up the CFD idea to increase their profits.

Of course and the fact that it was sold to punters as increasing theirs as no stamp duty, etc.

Isn't Mr Charts just another one of these cronies? Let's face it...he offers a service for free on here to generate business. It's just 1 service mind out of his supposed 10 methods but he can;t tell you any of them without you paying

 

[jamezz34]

Exactly, why **** on all brokers. You're just a puppet in their hands

 

[strokey tone]

As you say Side kicker, I am the one who is considerably worse off due in the main to me taking poor and expensive advice from a broker who I thought knew better than I, however in hindsight if brokers were so good then they would be trading their own money or taking on leverage themselves but it is far easier to take risks with clients money and charge them a nice fat fee for the privilege.
I believe that you are far better off with an execution only account and following your own intuition which is usually far better than the advice given by most brokers!

 

[jamezz34]

Sorry you followed a retail brokers advice wholeheartedly?!?! I work in the city and nobody even listens to institutional broker recommendations!!!

 

[jamezz34]

But that does really suck losing that much money, I feel for u buddy.

 

[strokey tone]

But that does really suck losing that much money, I feel for u buddy.

Dear jamezz34,

Thank you for your kind comments on the terrible experience I had which started after I filled out one of those offers of a free report on gold stocks that are posted on Yahoo and I can't beleive how I could have allowed myself to trust these people as it is clear now that I was really regarded by them as an easy touch!
I am keen that other people don't fall into the same trap as I did as I was completely taken in by their sales talk and thought they had my best interests at heart when in fact the only interest they had was how much they could make out of my trusting nature!