SelfTrade.co.uk Hits Shares ISA Investors with Quarterly Custody Fees
Personal_Finance / Investing 2019 Jan 24, 2019 - 03:55 AM GMTBy: N_Walayat
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
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