Business

What you need to know about changes in Halifax stock trading fees

Image Source: Getty Images



April 2021 will be important Halifax stock trading service pricing changes.. As an account holder myself, I will outline the meaning of the future.

Annual management fee from the beginning of the month Its stock and stock ISA It will be deleted. £ 12.50 will continue to be collected in May as an ISA fee for the 2020/21 tax year.

Instead, a £ 36 customer management fee will be introduced. Halifax, which is paid annually, states that this “covers the operating costs of our stock trading services, including our stock trading accounts, ISA and ShareBuilder.”

However, the first payment will be collected in April of next year (2022). Therefore, the account owner “takes more than a year to determine if an account is suitable for you.”

In addition to these changes in annual fees, Halifax is reducing stock trading fees for online investments. Beginning April 1, 2021, online trading fees for both UK and international equities and funds will be reduced from £ 12.50 to £ 9.50.

Because I have both stock and stock ISA Stock trading account With Halifax, you only have to pay the administration fee once, not for each investment account you have.

Running some simple back of beer mat numbers raises my annual fee by £ 23.50. However, if you need to make more than 11 transactions on both accounts in the coming tax year, you will need to get it back. In my case this is very likely.

Of course, what needs to be seen more broadly S & S ISA And Stock trading securities It is available to find the one that suits your investment strategy.

I consider myself not a trader, but a long-term focused investor. Therefore, I estimate that you are likely to trade online 12 to 20 times a year. As a result, I don’t think I would benefit from an account that offers low online transaction fees for frequent traders.


Some of MyWalletHero’s offers are from our partners — that’s how we make money and keep this site going. But does it affect our reputation? No. Our commitment is you. If the product is not good, our rating reflects it or we do not list it at all. We also aim to show you the best products available, but we do not review all the products on the market. Click here for details.. The above statement is for The Motley Fool only and has not been provided or endorsed by bank advertisers. John Mackey, CEO of Whole Foods Market, a subsidiary of Amazon, is a member of The Motley Fool’s Board of Directors. The Motley Fool UK recommends Barclays, Hargreaves Slansdown, HSBC Holdings, Lloyds Banking Group, Mastercard and Tesco.




What you need to know about changes in Halifax stock trading fees

Source link What you need to know about changes in Halifax stock trading fees

Related Articles

Back to top button