Halifax Share Dealing

 

The Halifax Share Dealing account lets you invest in a handful of international markets in addition to the usual range of UK stocks, bonds and funds. The international service is a bit too limited to be of interest to experienced and frequent international investors, but could be a useful solution for those who want to add some major US and European shares to their portfolio.

Halifax is a major provider of white label stockbroking services and is behind Motley Fool Share Dealing among others. Most of these will cost you more than using Halifax, but the firm’s iWeb brand is significantly cheaper at £5 per transaction rather than £12.50.

However, these fees aren’t your only cost – like most stockbrokers that will only let you settle and hold cash in sterling, you also pay a currency commission on the exchange rate used to calculate the sterling price each time you trade.  Halifax charges a 1.25% margin, which is less than some rivals, but other options such as AJ Bell Youinvest, iDealing, Interactive Brokers and Saxo Bank have significantly lower FX costs.

Markets available
Online tradingBelgium, France, Germany, Italy, Netherlands, UK, USA
Telephone tradingAs above
Dealing commissions and charges
Typical online£12.50
Online details£12.50
Typical telephone£25
Telephone details£25
Other fees and charges
Account fees and inactivity feesNone
Custody charges for stocksNone
Dividend chargesNone
Corporate action chargesNone
Currencies
Currency conversion charges1.25% margin
Hold cash in foreign currenciesNo
Currencies allowedGBP
Other details
Tax-advantaged accountsISA (administration fee of £12.5 per year), SIPP (administration fee of £18.75+VAT per quarter for accounts under £50,000, £37.50+VAT per quarter for accounts over £50,000)
Other products and servicesBonds, CFDs, funds
Minimum account sizeNone
Company locationUK
Further informationVisit the Halifax Share Dealing website

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 Posted by at 11:25 pm