Charles Stanley

 

Charles Stanley is a long-established UK private client stock broker with a good range of European and Asian markets for telephone dealing, including less common ones such as Poland, Korea and Indonesia.

These firms will not be the cheapest in terms of trading commission, but you may pay less in hidden costs such as foreign exchange conversion fees. Customer service will usually be better and the representatives you deal with will be more knowledgeable.

Due to higher minimum commissions, you need to be looking at a minimum trade size of several thousand pounds to be cost effective, but from that point up, Charles Stanley and its peers are worth considering – especially for less frequent investors. Alternatives include Killik & Co, Redmayne Bentley and Brewin Dolphin/Stocktrade.

In addition to a traditional telephone dealing account, the firm also offers online dealing through the Charles Stanley Direct brand (formerly known as Fastrade). This service does not offer any international dealing options.

Markets available
Online tradingUK (through Charles Stanley Direct)
Broker-assisted tradingAustralia, Austria, Belgium, Canada, Denmark, Finland, France, Germany - Frankfurt, Greece, Holland, Hong Kong, Indonesia, Ireland, Italy, Japan - Tokyo, Korea, Luxembourg, Malaysia, New Zealand, Norway, Philippines, Poland, Portugal, Singapore, South Africa, Spain, Sweden, Switzerland, Thailand, UK, UK International Order Book, USA
Dealing commissions and charges
Online minimum£10 (through Charles Stanley Direct)
Online detailsUK £10
Broker-assisted minimum£25-£125
Broker-assisted detailsCharles Stanley: first £10,000 1.85%, next £90,000 0.5%, balance 0.25% (UK min £25, international min £75), plus overseas securities charge of £20 for US, Canada and Europe or £50 for other overseas markets; Charles Stanley Direct: UK £20 or 0.25% (min £50) for specialist trades.
Other fees and charges
Account fees and inactivity feesCharles Stanley: annual service charge of £150 plus VAT per year (additional £200 plus VAT for CREST personal membership); Charles Stanley Direct: 0.25%/year (min £20, max £150), waived if six or more trades every six months
Custody charges£30 per holding per year for shares in overseas custody, £30 per holding per year for individual bonds
Dividend chargesNone (except £4 for UK dividends not held in CREST or through Charles Stanley Direct)
Corporate action chargesNone
Currencies
Currency conversion chargesNo explicit margins, exchange rates should be close to interbank rates
Hold cash in foreign currenciesYes
Currencies allowedMost major currencies
Other details
Tax-advantaged accountsISA (covered by standard account fee for Charles Stanley Direct, administration fee of £30+VAT per year for Charles Stanley), SIPP (administration fee of £100+VAT per year for Charles Stanley Direct, fees vary for Charles Stanley)
Other products and servicesBonds, CFDs, funds, options, spreadbetting
Minimum account sizeNone for UK, £5,000-10,000 for international dealing
Company locationUK
Further informationVisit Charles Stanley website

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 Posted by at 5:45 pm