IG for a Stocks & Shares ISA?

Nowler

Established member
790 58
Anyone have experience with, or know anyone using IG for their Stocks & Shares ISA?

I was using Vanguard last tax year, but as I have not paid into it since the start of the new tax year, I am considering opening one with IG so I can be more involved with my investments.

Ive been reading a lot about stocks and I feel much more at home with these than I do with the fast paced world of the FX.
I would like to start investing in individual stocks, as opposed to solely investing with Index Mutual Funds.

Generally speaking, I trust IG.
I am just looking for the input of those who have, or know from those who have an IG Share Dealing account inside their ISA wrapper

Thanks
 

new_trader

Legendary member
6,181 1,258
I moved my ISA to IG when my previous provider changed ownership and they were going to start charging a quaterly fee for a service that started out being free for investments over £10K. IG was free at the time I switched but now they charge a quaterly fee¹.


1. A custody fee of £24 is charged per calendar quarter if you hold investments in an ISA at the end of the quarter unless you fulfil certain conditions. Please see our share dealing charges and fees for more details.
 

Nowler

Established member
790 58
Cheers for the input buddy.

£100 a year seems excessive considering I'd have paid them £8 per deal as well. It's not a huge amount of money, but I just dont see the value in it.

Know any better alternatives off the top of your head?

PS: On closer inspection it seems any commission paid during the quarter will be deducted from the custody fee.

"
The custody fee is also dependent on your trading activity, and commissions paid during the quarter will be deducted from the fee. You will be exempt from the charge if you fulfil one of the following criteria:
  • Deal three or more times on your share dealing account during the quarter
    OR
  • Hold investments worth £15,000 or more across your IG Smart Portfolio accounts only, at the end of the quarter"
I'd imagine I'll largely place at least 1 trade per quarter, so that would be £24 minus £8, which is not so bad anymore.
 
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new_trader

Legendary member
6,181 1,258
What irritates me when numbskulls say "there is no inflation" is they ignore things that were once completely free but now cost money. I started my Self select ISA years ago and there were a few ISA providers that offered you options to avoid fees whereas now there are none that I can find. You either pay directly or indirectly by being 'active'.

I switched to IG because at the time they were zero fees with no conditions. I stick with them because the quarterly fee is deducted from commissions and it is fixed rather than a percentage of investment value.
 

Nowler

Established member
790 58
What irritates me when numbskulls say "there is no inflation" is they ignore things that were once completely free but now cost money. I started my Self select ISA years ago and there were a few ISA providers that offered you options to avoid fees whereas now there are none that I can find. You either pay directly or indirectly by being 'active'.

I switched to IG because at the time they were zero fees with no conditions. I stick with them because the quarterly fee is deducted from commissions and it is fixed rather than a percentage of investment value.
Percentage on investment would suck!
Unless it's extremely cheap. I think I was paying .22% on my managed mutual fund portfolio, which I was happy with.

I think I will go ahead with IG now that the quarterly fee is offset by commission paid. But on saying that, I dont know if I'll be placing a trade each quarter as I'm leaning toward a long horizon investments.

I supposed theres not a lot of harm in giving it a go for 12 months...