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The Real Secret for Successful Trading

SelfTrade.co.uk Hits Shares ISA Investors with Quarterly Custody Fees

Personal_Finance / Investing 2019 Jan 24, 2019 - 03:55 AM GMT

By: N_Walayat

Personal_Finance

It's just got that bit harder for small stock investing customers of Selftrade.co.uk to make money investing.

Customers of Selftrade.co.uk who don't trade at least twice in a quarter (since April 2018) are being hit with a quarterly balance eroding custody fee of at least £17.99. Which might not sound like much but for small retail investors who tend to be invested in ISA's for the long-run its going to amount to a sizeable drain on their ISA accounts of at least £72 per year. And the charges would be even higher for those who hold SIPPS with Selftrade.co.uk


Charging period 01 October 2018 – 31 December 2018

Custody Fee calculation

Base Fee 12.50
Dealing Account Product Fee 0.00
ISA Product Fee 4.99
SIPP Product Fee 0.00
Custody Fee Sub Total 17.49



Low activity customers of the likes of selftrade.co.uk or those with disbursed holdings amongst several brokerages need to seek to act by looking into moving / consolidating their ISA accounts to brokerages that don't slowly drain their investment accounts with quarterly custody fees.

Nadeem Walayat

http://www.marketoracle.co.uk

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