Hi all
Has anyone any experience of using IWeb from Halifax for dealing? Seems very inexpensive. Is it any good?
Are they? What are the fees?
About the Author
Neil81
7 comments
Tree
Yes, my ISA is held with iWeb. £5 per trade. No ongoing custody or annual charges. Usually has a one-off account opening charge, but that's currently waived as a sign-up offer. Works fine for me for online only dealing of UK shares. Doesn't claim back US tax from shares like Somero Enterprises (LON:SOM) which is the main downside I'd highlight.
Dragon
I have a SIPP and ISA as well as a trading account. Cheaper version of the Halifax Share Dealing service. Two problems I have had is they don't seem to reclaim withholding tax from overseas divis. They don't email you when a divi arrives. Other than that, they are ok.
garbetklb
I think they will reclaim US tax via a W8Ben form, but not for non US listed companies like Somero - but they wouldn't / couldn't explain why.
They also won't allow some shares - eg EBOX
Otherwise, v cheap & easy - and the reassurance of a "too big to fail" parent.
My late mother held shares via them & Interactive Investor. At probate, Iweb were very good - responsive, quick, easy. Interactive Investor were a bit of a shambles by comparison - mediocre rather than awful.
Overall, I like Iweb a lot - but not as my sole provider
gmtrader
iWeb is ok. I have an isa and sipp with them. Very cheap dealings at £5 pt but I’m not sure how their spread compares to other firms.
The isa has no charges and the sipp charges £45 per quarter if your account has over £50k £22.50 for under £50k
I’ve probably seen iWeb down once or twice in the last 15 years so pretty stable platform .
If you going to try it just do an isa first as anyone will tell you that transferring a sipp is slow work
Downsides are:
Uk only shares
Forget about reclaiming dividend tax from outside Uk
