iDealing is a no-frills low-cost online stockbroker. One of its main selling points is that it’s one of very few UK retail stockbrokers to offer Direct Market Access to the London Stock Exchange (the other main ones are Interactive Brokers, Saxo Markets and more recently IG).
The firm also offers commission-free trading for Euronext Amsterdam, Brussels and Paris, passing on only the per-trade charges levied directly by the exchange. It will also deal in other CREST-eligible foreign stocks – ie, those can clear and settle through the UK securities depository – for additional European markets and the US, traded through UK market makers. Costs are commendably low compared with many UK peers, especially once FX charges are taken into account.
Be aware that iDealing charges a £60 fee to close or transfer out an account. This kind of closure fee is relatively standard among ISA providers, but not common for regular trading accounts.
| Online trading | Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK, USA |
| Telephone trading | n/a |
| Typical online | £9.9 |
| Online details | Commissions depend on the route you choose to execute the trade.
| UK retail service providers | £9.9/€14.5/US$14.95 |
| Direct to London Stock Exchange | 0.1% (min £10) plus £1.70 per fill for partial fills |
| Euronext Amsterdam, Brussels and Paris | Passed-on exchange fees only |
|
| Typical telephone | n/a |
| Telephone details | n/a |
| Account fees and inactivity fees | Dealing account: £5 per quarter with the standard "Smart Wealth" tariff (an alternative "Admin Free" tariff with no account fee, but a £2/€3/$3.80 additional charge per trade is also available);
ISA: £5 per quarter;
SIPP: depends on administrator |
| Custody charges for stocks | None |
| Dividend charges | None |
| Corporate action charges | None |
| Currency conversion charges | iDealing charges a 1% margin for direct currency conversion within account. Alternatively, when buying foreign securities quoted in GBP by a market maker, the price will include the market maker's own margin (assume up to 0.5% depending on deal size) but no additional FX charge from iDealing. |
| Hold cash in foreign currencies | Yes |
| Currencies allowed | AUD, CAD, CHF, EUR, GBP, JPY, USD |
| Tax-advantaged accounts | ISA, SIPP |
| Other products and services | Bonds, CFDs, funds (limited range at present), futures, FX, options, spreadbetting |
| Minimum account size | £1,000 (£2,000 for margin accounts) |
| Company location | UK |
| Further information | Go to the iDealing website |
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