The Share Centre

 

A popular UK broker with a reputation for solid customer service, Share Centre offers access to the usual range of CREST-settled international stocks (those listed in the US, Canada and major European markets), traded through UK-based market makers.

The fee structure for this broker is unusual, making it slightly harder to compare than some peers. There’s a monthly fee of £1.8 (£1.5+VAT), after which investors can choose to pay 1% per trade with a minimum per trade of £7.5 or a further quarterly fee of £24 to get a flat rate of £7.5 per trade). Currency conversion costs – the big hidden expense of international investing for many investors – should be lower than most competitors since Share Centre says that it does not earn any additional commission from the market market’s FX spread (many brokers get the market maker to pad the FX rate and rebate a portion to them, earning an additional commission of which many investors remain ignorant).

That’s commendable, but otherwise the firm seems to offer a middle-of-the-road proposition in terms of both costs and international markets available. Feedback from users is generally positive and it may be a good choice for investors who want to hold a few international shares in a mostly UK-based portfolio. However, other UK providers offer cheaper or more comprehensive international services, so it doesn’t appear to be an obvious choice for those whose primary interest is overseas markets.

Markets available
Online tradingAustria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK, USA
Telephone tradingAs above
Dealing commissions and charges
Typical onlinemin £7.5
Online detailsStandard option - 1% per trade (min £7.5); Frequent trade option - £7.5 per trade plus £24 per quarter dealing option fee
Typical telephoneAs above
Telephone detailsAs above
Other fees and charges
Account fees and inactivity fees£1.8 per month
Custody charges for stocksNone
Dividend chargesNone
Corporate action chargesNone
Currencies
Currency conversion chargesUses market makers for international trades and says it does not add any commission to the market maker's own FX spread, so assume up to 0.5% on smaller trades
Hold cash in foreign currenciesNo
Currencies allowedGBP
Other details
Tax-advantaged accountsISA (administration fee of £4.8 per month); SIPP (administration fee of £14.4 per month)
Other products and servicesBonds, funds
Minimum account sizeNone
Company locationUK
Further informationVisit the The Share Centre website

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 Posted by at 6:54 pm