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I have tried to clarify the US share dealing charges with a live chat operative, and they were unable to communicate in a meaningful way.

I would like to confirm that, as long as you trade at least 3 times in any given month, that you will only pay charges for the first month. In other words, free US share dealing is on a rolling monthly basis provided you continue to make at least 3 trades every month.

Is this correct?

The operative was saying that even if you trade at least 3 times every month, that only every alternate month would allow free commission. She also said this was clearly stated on the fees page, which is most definitely not the case.

In addition, are the quarterly fees definitely waived if you place these 3 trades within a quarter?

Thanks

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Three trades a month will maintain the preferred trading rate (£3 for UK shares, or commission free for US shares). Three trades a month will also cause the quarterly charge to be waived. That said, bear in mind that there is a 0.5% FEX fee involved in dealing US shares. Trying to avoid the FEX fee by changing the base currency of your account will instead incur a dealing charge of 2 cents per share with a minimum charge of $15. So arguably not truly commission free, but then very little ever is in the land of brokers.

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It's not clear for me either.

"Place 3+ trades on your share dealing account in the previous month to qualify for our best commission rates."

So in the first month I pay £10 after EVERY trade but in the next month I pay nothing if I made at least 3 trades in the previous month?

Which means if I make 100 trades in the first month I pay £1000 comission? 

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Thanks for clarifying. The support person clearly did not understand this at all, and the website is very vague!

The 0.5% is something I'm used to from other platforms, and much easier to absorb as a cost on small positions when making a good entry :)

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  • 2 months later...

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