Alliance Trust Savings

 

Alliance Trust Savings is probably better known for its large fund supermarket than for its share dealing services. However, the firm offers online trading in UK stocks, plus UK bonds and a number of overseas markets for telephone dealing. International trades are executed via an intermediary (Pershing Securities).

International transactions can only be made by phone (at a rate of £40 per trade), the currency commission of 1.3% is higher than many peers and not all stocks in all markets will be available. For this reason, this provider won’t suit very active investors or those looking for comprehensive coverage.

However, for investors who mostly use funds and UK stocks but are also keen to invest in some major international stocks from a wide range of countries, Alliance Trust may be of interest. Its flat-fee structure makes it expensive for small accounts, but can represent very good value for large SIPPs.

Markets available
Online tradingUK
Telephone tradingAustria, Belgium, Canada, Denmark, Finland, France, Germany - Frankfurt, Hong Kong, Italy, Netherlands, Norway, Portugal, Singapore, South Africa, Spain, Sweden, Switzerland, USA
Dealing commissions and charges
Typical online£12.50
Online detailsUK £12.50
Typical telephone£40
Telephone detailsUK & international £40
Other fees and charges
Account fees and inactivity feesAdministration fee £18.75 per quarter
Custody charges for stocks0.05% of total value of international shares every six months
Dividend chargesNone
Corporate action chargesNone
Currencies
Currency conversion charges1.3% margin
Hold cash in foreign currenciesNo
Currencies allowedGBP
Other details
Tax-advantaged accountsISA (administration fee £18.75 per quarter), SIPP (administration £155+VAT per year)
Other products and servicesBonds, funds
Minimum account size£50
Company locationUK
Further informationVisit the Alliance Trust Savings website

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 Posted by at 5:51 pm