Question
Which platforms are suitable and least costly to use when opening an ISA which would include a mix of unit trusts/OEICs, investment trusts and ETF/ETCs?Answer
The answer really depends on the funds selected, amounts involved and how frequently you'll trade - hence I built the www.comparefundplatforms.com website to make meaningful comparison nice and straightforward. Please do give it a try.
But in very general terms Alliance Trust Savings and Interactive Investor tend to come out cheapest in your scenario for portfolios of around £40,000+. Charles Stanley Direct may well cost less on smaller amounts and possibly on larger amounts too, depending on how often you'll switch funds - unlike the other two Charles Stanley Direct doesn't charge for fund switches.
If you plan to trade very frequently, for example 40+ times a year then Clubfinance might prove competitive - their platform fee is quite high but dealing is only 50p per trade.
Bestinvest can also be competitive in some scenarios and has decent tools and research. And Sippdeal can prove cost effective provided you use the institutional versions of funds on their platform.
Which platforms are suitable and least costly to use when opening an ISA which would include a mix of unit trusts/OEICs, investment trusts and ETF/ETCs?Answer
The answer really depends on the funds selected, amounts involved and how frequently you'll trade - hence I built the www.comparefundplatforms.com website to make meaningful comparison nice and straightforward. Please do give it a try.
But in very general terms Alliance Trust Savings and Interactive Investor tend to come out cheapest in your scenario for portfolios of around £40,000+. Charles Stanley Direct may well cost less on smaller amounts and possibly on larger amounts too, depending on how often you'll switch funds - unlike the other two Charles Stanley Direct doesn't charge for fund switches.
If you plan to trade very frequently, for example 40+ times a year then Clubfinance might prove competitive - their platform fee is quite high but dealing is only 50p per trade.
Bestinvest can also be competitive in some scenarios and has decent tools and research. And Sippdeal can prove cost effective provided you use the institutional versions of funds on their platform.
Read this Q and A at http://www.candidmoney.com/askjustin/827/best-platform-for-funds-and-shares
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