Investing platforms.

[the tungston weasel]

Hi all.  Not sure if this is the place to post this so if its not mods feel free to move it or some tell me to get a grip and go to this thread.

I'm looking at trying to do some investing in shares as a complete beginner.

Do any P&Ber's dabble in the stock market?

Whats the P&Bs recommendation for an investing platform that has a handy app and gives control of individual shares purchases.

Has any P&Ber's done time for insider tradin

[Satoshi]

Hargreaves Lansdown and Charles Stanley Direct are two big mainstream providers, I think the former has the best app / interface. I've had a Charles Stanley Direct for years and haven't been a huge fan, I'm just too lazy to sell all and close it.

I'm currently using iWeb which is horrific in pretty much every way apart from the fact it's incredibly cheap - a £100 opening fee Vs a % platform fee makes a huge difference over time. It also makes me nostalgic for 2005 era internet. This only a good option once you portfolio is a certain size though.

I think for volume trading stuff like Investec is maybe better but honestly not something I know much about (as I've never done it).

My personal recommendation, especially if you are new to it, is don't buy individual shares. Buy a low cost tracker fund that follows the market - over time this has been proven to outperform almost every active fund manager (and often massively outperform). If the whole wealth management industry cant consistently successfully pick shares you probably can't either. Reminds me of quite a good line from the simple path to wealth - if you are in a fight would you try an overhead karate kid? Unless your name is Bruce Lee you should not do this. Should you try and beat the market? Unless your name is Warren Buffet it's probably best not to try.

Good luck with it, investing is the most effective route to wealth for almost everyone. More info on the thread below.

 

 

[Sergeant Wilson]

6 hours ago, the tungston weasel said:

Hi all.  Not sure if this is the place to post this so if its not mods feel free to move it or some tell me to get a grip and go to this thread.

I'm looking at trying to do some investing in shares as a complete beginner.

Do any P&Ber's dabble in the stock market?

Whats the P&Bs recommendation for an investing platform that has a handy app and gives control of individual shares purchases.

Has any P&Ber's done time for insider tradin

Have you thought of bitcoin? There's a really useful thread.

[Suspect Device]

I use interactive investor for my ISA and SIPP. Pretty happy with it overall. I prefer their fixed price structure as opposed to the percentage of your portfolio charged by some providers. It'll depend how much you intend to invest what is best for you. Do a google search for a price comparison to work out what is best for you.

Also use Hargreaves Lansdowne for my daughters junior ISA and not massively happy with the pricing structure but the website is good.

There are loads of cheap apps but I haven't used any of them so cannot comment on how good/bad they are.

 

And finally.

 

Edited August 16, 2022 by Suspect Device

[Granny Danger]

Agree with @Satoshi about tracker funds, it’s the way to go for inexperienced investors with a limited amount to invest.

Interactive Investor is a far more cost effective platform than HL and always use a wrapper like an ISA for maximum benefit.

[Ross.]

I work for a broker. They are all varying degrees of shit in terms of middle and back office. I couldn’t give a f**k about client side. That’s all my input on it.

[Florentine_Pogen]

9 minutes ago, Ross. said:

I work for a broker. They are all varying degrees of shit in terms of middle and back office. I couldn’t give a f**k about client side. That’s all my input on it.

 

[TheScarf]

I use Hargreaves Lansdown for my ISA and SIPP and the app is easy to navigate.  Pity there's barely anything in either account right guys!!!!

While I'm on the subject, some employers are proper funny about moving your workplace pension to a SIPP.  I've been battling with one former employer to release the funds for 3 months.  Others took me about 3 days from start to finish.

[hk blues]

4 hours ago, Sergeant Wilson said:

Have you thought of bitcoin? There's a really useful thread.

Alternatively, why not direct him to the Gambling Thread?

[Dawson Park Boy]

I’ve used HL for years and find them to be top notch.

If you invest in investment trusts there is no annual charge as far as I am aware.

[Ross.]

2 hours ago, TheScarf said:

I use Hargreaves Lansdown for my ISA and SIPP and the app is easy to navigate.  Pity there's barely anything in either account right guys!!!!

While I'm on the subject, some employers are proper funny about moving your workplace pension to a SIPP.  I've been battling with one former employer to release the funds for 3 months.  Others took me about 3 days from start to finish.

Would it not be down to the SIPP administrator, rather than the employer? Unless they self administrate, obviously. Took me a couple of months to move my last one when I left the UK. Almost all of the delay was down to one side not bothering their arse to do anything unless chased on it.

[Ross.]

3 hours ago, Florentine_Pogen said:

 

I’m definitely not sorry and definitely not a hero, and also, sadly, definitely not getting 47m dollar bonuses. Now going on 6 years of an absolute shitshow between Brexit and Covid. I can count on one hand the number of other brokers and counterparties that are easy to deal with and generally reliable. With others it’s just an ever increasing list of market claims and missing contracts that people simply refuse to acknowledge unless you get the really senior people involved, and you can’t do that too often, though not for lack of wanting to. Outsourcing is also a major problem, more so the level of training provided to those who take over the job. In a few cases I am pretty certain that I have given the people I deal with more training on the systems and processes involved than their own fucking employer.

[HK Hibee]

In my experience is to open a brokerage account and buy ETFs. The fees they charge for a index tracker fund are significantly lower than some of the other managed funds - cam be 0.1% compared to 2-3%. 
 

transaction costs are pretty low as they are just like a share. I use my bank (hsbc)

 

 

[TheScarf]

4 hours ago, Ross. said:

Would it not be down to the SIPP administrator, rather than the employer? Unless they self administrate, obviously. Took me a couple of months to move my last one when I left the UK. Almost all of the delay was down to one side not bothering their arse to do anything unless chased on it.

Aye they self administrate.  I'm beginning to get the feeling I'm the first ex-employee in the companies history to ask for a pension transfer and they're learning how to do it.

[the tungston weasel]

Thanks very much for all the replies folks, I've justbopened an ISA with the Hargreaves Lansdown people.  I've put £100 in the account and will be transferring the £600 In premium bonds I've had for 12 years(25 bucks won in total!!!) into it.  I now just have to decide where to put it.

Yours, 

The wolf of P&B

[Shandon Par]

On 16/08/2022 at 05:44, Sergeant Wilson said:

Have you thought of bitcoin? There's a really useful thread.

The best thing about it is when folk lose a shed load of money, they take to social media to say “it’s not a problem to me as I have a wide portfolio and this crypto is only part of it”