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Best Stocks and Shares ISA ISA for 2022 - FreeTrade, IG Index, II, IKBR, AJ Bell Compared

Personal_Finance / ISA's Apr 20, 2022 - 04:51 PM GMT

By: Nadeem_Walayat

Personal_Finance

NUMBER CRUNCHING THE BEST STOCKS AND SHARES CASH ISA

NEW TAX YEAR NEW ISA and maybe an additional SIPP, though I have to keep in mind the lifetime LIMIT, currently at just over £1 million! ISA"s are the way to go, a no brainier for UK stock investors, continue upto 20k per person (40k per couples) annual allowance and can transfer in cash ISA's on top (which I still have too much of),

So BEFORE I opened my latest stocks and shares ISA, I did a number crunch to determine which is best, now there maybe some minor errors in this table but overall it gives a accurate picture that I used to make my decision of who to go with for 2022-23.


Big Image - https://www.marketoracle.co.uk/images/2022/Apr/Best-cash-ISA-2022-NW.jpg

From BEST to WORST

IKBR

IBKR on face value offers the best bang for ones buck, but it's mot exactly for the inexperienced. After opening one last week I spent a good 3 hours going through every setting to figure out how to make proper use of the platform. Plus their fee structure can easily bamboozle would be investors as to exactly how much you will pay, i.e. they charge for REAL TIME QUOTES! That's 1 cent per quote! Whether you place an order or not, so you may want to check the prices elsewhere before you decide to place an order or just stick to using delayed quotes. Also IKBR allows after hours trading with very wide spreads, which can be a double edged sword i.e. after hours prices can be deceptive.

So IKBR even though it is the clear winner is NOT for Newbs! You will be stuck! Likely spend days trying to figure out what all of it means!

Still if you are up for it, it cannot be beat in terms of the low fees.

IKBR are running a promotion! Where if you signup using this link, I get $200 and you can get upto $1000! WAHOOO!!!!

To me this sounded to be too good to be true! So I went and trawled through their T&C small print and found the following line hidden away that they DO NOT MENTION ANYWHERE ELSE!

"Tax-advantaged accounts are not eligible to participate in the Program."

And hey presto the promotion is NULL and VOID for ISA's! These IKBR clowns tried to pull a fast one on me! Wanted me to promote their excellent low fee's platform for what would turn out to be NOTHING in return!

Anyway it is the best platform, feel free to use my link to signup https://www.interactivebrokers.com/referral/nadeem423 though beware we WON"T GET ANYTHING for opening and funding a SHARES iSA not unless we ALSO fund and use their NON ISA account with a minimum of $10,000, within 30 days of opening an account, they got so many get out of paying referral clauses that it's joke promotion (video coming).

Bottom line - Low fee's. complicated platform that will confuse MOST, we'll it even took me a good 3 hours of use to get to grips with it. Also beware NOT TO FOLLOW their account funding procedure else you WILL pay a FEE, I just ignored their instructions and DID a BACS, and as if by magic the funds arrived a couple of days later WITHOUT any FEEs!

FREETRADE ISA

I have covered the Frreetrade iSA before, this is the exact opposite of IKBR, VERY SIMPLE and EASY to USE! No problems opening or funding an account. I rate this as No 2 in terms of the best iSA. I have used it to the hilt to scale into positions and then scale out a little on the way up. IT IS GOOD!

BUT only for smart phones NO desktop, which at first peeved me off until I got used to placing orders on my phone.

Plus if you follow my link WE BOTH get a FREE SHARE, all you need to do is deposit £1! As for the value of the free share? In my experience it's going to be around £10. But you might get lucky as it is a bit of lottery i.e. maybe 1 in 100 gets a £200 share? Most £3 - £30.

Note to be able to use it properly you will have to pay £10 per month. £120 per year, so don't bother opening one if your just going to put a couple of grand into it.

Follow my link for a FREE SHARE, NOTE if you open an account WITHOUT the link you WILL NOT GET a FREE Share.

I like it, I use it, and I will be transferring a cash ISA into it.

IG INDEX

A close third on my list, it's fees structure is better suited to frequent traders, fee's are high for light users. Platform is good easy to use.

II SIPP

Is the potential ace in the hole! Yes it has the potential to resolve in a NEGATIVE FEES! BUT ONLY IF ONE IS PREPARED TO PLAY THE F/X GAME! I.e. transfer into dollars when sterling is above 1.40 and then maybe transfer excess cash back into sterling when below 1.30. Which means one can end up with plenty more dollars buying power than if one just bought at the spot rate, as the II spot rate is an atrocious rip off, 3% bid offer spread!

However given that sterling is currently perched at 1.30, I am not going to be opening an II SIPP anytime soon, as they do offer a promotional 6 months of no monthly fees so I will bide my time and open the SIPP only after I see GBP trading north of 1.40, else just like it's ISA it is not worth opening when sterling is weak.

II ISA
II is a good platform, but the F/X fee is a total rip off a 3% bid offer spread! So II ISA is only good for accumulating long-term positions and for me is used as a last resort, for instance I have distant limit orders that I renew every 3 months, which occasional get hit! Such as happened with Facebook at a limit of $238 which seemed very improbable when Facebook was perched on $320 but that's what happened! And it got triggered!

Similarly a limit to buy Google at $2252 seems very unlikely but you never know it may happen and like wise for most of the AI stocks, i.e. Apple at $128, MSFT at $245, Amazon at $2352, Micron at $56, AMAT at $125 (that one got triggered!) and so on.

So why did I open an II ISA if it is largely a pile of fx charges poop?

I didn't! EQI sold me and most of their ISA clients into II bondage. So I am stuck. It's not all bad because they do cover a wide range of markets and the platform is good, unlike AJ bells creaking monstrosity that I have been using since the late 1990's, they have not upgraded it in decades! What once was fantastic is now a dinosaur platform! No Limit orders on US stocks! No limit orders on US LSE listings!
The only plus is they allow one to buy a handful of US listings on the LSE and thus dodge their 1% F/x fee.

So the best ISA for the less experienced is the FREE TRADE ISA. Which I hold,. I also hold their SIPP which is not quite upto scratch i.e. ONLY employee contributions and NO pensions DRAWDOWN! You have to MOVE it to another provider which will likely mean selling everything and moving as cash so not for someone planning pension draw down anytime soon!

Whilst IKBR is good if you want to take stock investing to the next level but beware of the hidden fees.

Your analyst who has to wear an uncomfortable boot for another 5 weeks.

Stock Market Trend Forecast

What if you could know the future, had a chart of the stock market that showed a high probability trend forecast into the middle of May 2022. We'll that's what my Patrons got in a market brief at the end of March 2022, a trend forecast right into the middle of May 2022.

This analysis was first made available to patrons who support my work.So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat.

Whilst my most recent analysis is - UK House Prices Three Trend Forecast 2022 to 2025, where I pealed away multiple layers of the UK housing market of to arrive at a high probability of trend forecast.

UK House Prices Trend Forecast 2022 to 2025

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WE HAVE NO CHOICE BUT TO INVEST IN STOCKS AND HOUSING
High Inflation Forecast for Whole of this Decade Due to Rampant Money Printing
Fed Inflation Strategy Revealed
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RECESSION RISKS 2023
UK Debt Inflation Smoking Gun
Britains' Hyper Housing Market
UK Population Growth Forecast 2010 to 2030
UK House Building and Population Growth Analysis
UK Over Crowding Ratio
Overcrowding Implications for UK House Prices
UK Housing Market Affordability
UK House Prices Real Terms Sustainable Trend
UK House Prices Relative to GDP Growth
UK House Prices Momentum Forecast
UK House Prices and the Inflation Mega-trend
Lets Get Jiggy With UK INTEREST RATES
Is the US Yield Curve Inversion Broken?
UK house Prices and Yield Curve Inversions
Interest Rates How High WIll they Go?
Work From Home Inflationary BOOM?
Formulating a UK House Prices Forecast 
UK House Prices 2022 to 2025 Trend Forecast Conclusion
Peering into the Mists of TIme
Risks to the Forecasts
US House Prices Trend Forecast 2022-2024

So if you want immediate access to a high probability trend forecast of UK house prices, with US and global housing markets analysis to follow soon then do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat.

My Main Analysis Schedule

  • UK House Prices Trend Forecast - Complete
  • US House Prices Trend Forecast - 70%
  • Global Housing / Investing Markets - 60%
  • US Dollar / British Pound Trend Forecasts - 0%
  • Stock Market Trend forecast into End 2022 - 0%
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  • How to Get Rich - 85%
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Market Briefs
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  • The VR Mega-trend

Again for immediate access to all my work do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat.

And ensure you are subscribed to my ALWAYS FREE newsletter for my next in-depth analysis.

Your analyst BUYING the panic selling falling knives.

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2022 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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