Barclays Stockbrokers

 

Barclays Stockbrokers’ international dealing service, known as International Trader, is a separate add-on service to their standard online dealing account for UK shares. The underlying international dealing platform is actually Saxo Bank’s, but pricing and range of markets differs from Saxo’s own product.

International Trader offers a reasonable wide range of major international markets for online dealing.  It’s clearly pitched to compete directly against TD Direct Investing’s foreign dealing service, covers slightly more markets and could work a bit cheaper for some very active users. However, cash can only be held in sterling, euros and US dollars at present and each currency requires a separate account, in contrast to TD Direct’s multicurrency account covering a wider range of currencies. One notable limitation is that only a restricted range of international stocks can be held within a Barclays Stockbrokers ISA or SIPP at present.

Barclays also previously offered a telephone-only service called a Foreign Dealing Account that covers a slightly wider range of markets, but at higher cost. This is apparently no longer offered to new clients.

Markets available
Online tradingAustralia, Austria, Belgium, Canada, Denmark, Finland, France, Germany - Frankfurt, Hong Kong, Italy, Netherlands, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, UK, USA, USA OTCBB
Telephone tradingAs above
Dealing commissions and charges
Typical online£11.95-£17.95
Online detailsUK: 1-9 trades per month £11.95, 10-19 trades per month £8.95, 20+ traders per month £5.95;
International Trader:
For trades below US$30,000/C$30,000/AU$30,000/€20,000/CHF27,000/DKK150,000/NOK150,000/SEK200,000/HKD200,000/SGD35,000: 1-14 trades per month £12.95/US$19.95/€12.95 except Hong Kong and Singapore £17.95/US$24.95/€22.95 15-24 trades per month £11.95/US$18.95/€11.95 except Hong Kong and Singapore £16.95/US$23.95/€21.95 25+ trades per month £10.95/US$17.95/€10.95 except Hong Kong and Singapore £15.95/US$22.95/€20.95
For trades above: 1-14 trades per month 0.15% except Hong Kong and Singapore 0.25% 15-24 trades per month 0.1% except Hong Kong and Singapore 0.20% 25+ trades per month 0.085% except Hong Kong and Singapore 0.185%
Typical telephone£17.50-£32.95
Telephone detailsUK: £0-500 £17.50; £501-1,500 £35; £1,501-2,500 £50; £2,501-20,000 £65; £20,001-75,000 £75; £75,001-1,000,000 0.1%;
International Trader: Online rate plus £15/US$20/€20
Other fees and charges
Account fees and inactivity feesQuarterly inactivity fee of £12+VAT (a single fee covers both the MarketMaster account and the International Trader extension)
Custody charges for stocksNone
Dividend chargesNone
Corporate action chargesNone
Currencies
Currency conversion charges1.5% margin for 1-14 trades per month, 0.5% for 15-24 trades per month, none for 25+ trades per month
Hold cash in foreign currenciesYes
Currencies allowedEUR, GBP, USD
Other details
Tax-advantaged accountsISA (administration fee £30+VAT per year), SIPP (administration fee £38.75+VAT per quarter). Only a limited range of international stocks are permitted in the ISA and SIPP.
Other products and servicesBonds, CFDs, funds, FX, spreadbetting
Minimum account sizeNone
Company locationUK
Further informationVisit the Barclays Stockbrokers website

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 Posted by at 1:57 pm