New UK discount broker and Prague trading from Saxo Bank

There have been a couple of updates to broker details on the site. In the UK discount stock brokers table, I have added a new service from Clubfinance, previously known as a fund supermarket and the cheapest way for self-directed investors to access the Skandia platform.

This is quite an unconventional service in terms of fees. It charges an account fee of 0.35% per year, with a minimum of £25 per quarter, but online trades in UK shares are priced at just £0.5/trade. Quite a few UK brokers are likely to adjust their fee structure in the run-up to RDR and the platform review, so we can expect to see some others experimenting with unusual arrangements like this.

In the international dealing area, Saxo Bank has added the Prague Stock Exchange for cash equity trading. It’s always encouraging to see a major broker adding another awkward-to-access market, but in practice the significance of this one is limited – there are just  15 stocks listed on the Prague exchange and many of them are cross-listed in Vienna.

The Czech Republic also has an over-the-counter market, RM-SYSTEM Czech Stock Exchange, but that isn’t part of Saxo’s new service. Foreign investors interested in that could look to Fio Banka, which owns RM-SYSTEM and offers an online trading service.

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