IG for a Stocks & Shares ISA?

Nowler

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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
 
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.
 
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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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.
 
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...
 
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
Yes, they're criminals. I've just lodged a complaint with the FCA against them.
 

How do you feel about IG now?
Any change?

I have just now opened an ISA with them, which I unfortunately cant seem to invest in the S&P 500 through...
Which I thought was a bit odd.

I am trying to familiarise myself with the platform, but I am really not liking it...
I'm sure I will get used to it, but it seems unnecessarily complicated.
I value simplicity
 
How do you feel about IG now?
Any change?

I have just now opened an ISA with them, which I unfortunately cant seem to invest in the S&P 500 through...
Which I thought was a bit odd.

I am trying to familiarise myself with the platform, but I am really not liking it...
I'm sure I will get used to it, but it seems unnecessarily complicated.
I value simplicity
Do let us know how you get along with the platform and it's complications.

Some actual user reviews of using it will be most welcome to those considering which broker to opt for.

:)
 
Do let us know how you get along with the platform and it's complications.

Some actual user reviews of using it will be most welcome to those considering which broker to opt for.

:)

I'll do what I can.
They have a mountain to climb though.
Minimum position/trade sizes are far bigger than they are with Oanda.

Obviously there is a big difference between IG and Oanda (market maker), but still... I'd have to ramp up the size of trading if I was to stay with IG.

Lets see what happens over the next week or more
 
To be fair, mid/long-term investing from within their ISA was the main reason I opened the account...
I can stick with Oanda for my trades for now
 
So I wanted to reduce my leverage...

"Thanks for your email.
Sorry, leverage offered is standard for all the clients and cannot be changed or altered.
It is standard for all the clients applied for an account under a particular office.
If you have any further queries, please do not hesitate to contact us."
 
They confirmed in the email afterwards that it's set at the maximum leverage.

The smallest oil position I can take requires £313 margin.
 
Do anyone know for certain what the rules are on multiple ISA's?

I have not paid into any this tax year, but I have opened one up.
Does that mean I can't pay into last years ISA?
 
Meh...
Screw IG

They are not suitable for the working man like me.
I went with Trading 212 instead after hearing a lot of good things about their fees.
I opened an ISA with them as I never deposited into the IG one this tax year.

Trading 212 are somewhat limited in what they offer, but are my no means seriously lacking.
Especially for someone like me!
 
Meh...
Screw IG

They are not suitable for the working man like me.
I went with Trading 212 instead after hearing a lot of good things about their fees.
I opened an ISA with them as I never deposited into the IG one this tax year.

Trading 212 are somewhat limited in what they offer, but are my no means seriously lacking.
Especially for someone like me!

I'm not too sure about Trading 212 (T212). They are from Bulgaria, right? And opened up shop here and FCA regulated. You need to be smart with them, and not a beginner / newbie. I've read on the Freetrade forums that T212 are alluring new traders to their platform for zero commission share dealing, and then ultimately want them to go over to the CFD (that's how they make money, on the spreads and over 70% of new traders losing money). Freetrade has decided to stay away from CFD, a decision from the top. It's quite interested visiting their forums - you don't have to be a member - it's public, and the founders are often commentating and are involved. Quite a personal touch. Disclaimer: I don't have Freetrade.

I've also decided to open an account with IG Shares and ISA, due to the zero commission US stocks. I've chosen to leave Hargreaves and Landsdown (HL) due to their £11.95 and 1% FX fees per trade. I wanted to open up with Interactive Brokers (IB) but I'm not sure how their prices work if you're not buying a handful of shares. What I wanted to know was what the total cost is say I buy 1 share of AT&T or AAPL or 10 shares and 50 shares. Their pricing is complex and probably not the right place for me as a beginner.
 
Do anyone know for certain what the rules are on multiple ISA's?

I have not paid into any this tax year, but I have opened one up.
Does that mean I can't pay into last years ISA?
you've probably had this answered already but if not..
you can have as many ISA accounts as you like. there is no limitation.
the only limitation is the combined total amount you can contribute to these ISA accounts within any given tax year (6th April)
2020/2021 limit is £20,000
so account 1 with IG for example you could contribute 5k
account 2 with vanguard you could contribute 5k
etc etc until you reach 20k invested..then for that tax year you cant contribute any more. you would have to wait for the next tax year, or you would have a general stocks and shares account, or of course you use the contribution amount for partners children, and then failing that, you have a SIPP
these are the most tax efficient ways of investing
let me know if you have any other questions, if this doesn't answer yours
 
1invest: Thanks for that summary. I was not aware that you could have more than one ISA account across providers. I thought only one was allowed, but this new information raises a lot of possibility. I recently initiated a transfer from HL to IG. I could have let that stay there and have opened another one with IG. Interesting.
 
I don't think 1nvest is correct.
You can have as many ISA's as you want, but you can only pay into 1 of them per tax year.
 
I don't think 1nvest is correct.
You can have as many ISA's as you want, but you can only pay into 1 of them per tax year.
You are right, the rule is that you can have multiple stocks & shares ISAs but you can only contribute to one of them in the same tax year. If you wanted to split a year's allowance between different accounts the others would have to be a cash ISA, an innovative finance ISA or a lifetime ISA.
 
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