Fund annual charges and external dealing fees

[NickW-uk]

I was hoping to find a Share Dealing Demo account to check external charges on funds, trusts, and REITS, but apparently one is not available. The IWEB platform identifies upfront external annual charges on stocks like VOF, WWH, AEW, etc which would make short term trades expensive; For example IWEB total dealing charges for AEW amount to 4.8%! Of course I realise they are intended as longer term holdings. My question is does IG identify external charges, and if so where?

[AndaIG]

Hi @NickW-uk

You may find the following link useful: 

https://www.ig.com/uk/investments/share-dealing/costs-fees

All the best, 

Anda

[NickW-uk]

4 minutes ago, AndaIG said:

https://www.ig.com/uk/investments/share-dealing/costs-fees

Those are IG fees, I don't see any mention of external fees. Maybe there aren't any, but not convinced.

[AndaIG]

@NickW-uk

Some external costs are discussed here, near the bottom of the page

[NickW-uk]

My question is about annual external fund/trust/REIT charges which differ according to the stock.

[NickW-uk]

I've checked with HL and on their platform the annual charge is proportioned on a daily basis, so maybe IG is the same?

Edited May 17, 2022 by NickW-uk

[NickW-uk]

On closer inspection, in iWeb the ongoing annual charge is NOT upfront (my mistake). Having said that their support don't know the answer either, so I assume it's calculated daily.

[gezmond]

Are you mixing up platform annual charge with the ongoing charge within a specific fund?  I thought IWEB charged one off £100 when you open account, then there is no annual  platform charge

 

If you mean the fund ongoing charge eg this is from  VOF on  harg lansdown platform - the 1.84% is taken directly from the VOF fund itself (almost behind the scenes , so you don't see it!) so its not taken from you account cash as such... 

 

 

[NickW-uk]

11 hours ago, gezmond said:

Are you mixing up platform annual charge with the ongoing charge within a specific fund? 

No but I was incorrectly thinking that there was an upfront fund/trust charge at the point of dealing, but of course this ongoing charge is wrapped up within the fund/trust, rather than additional dealing charges. I was thrown by the way iWeb displays charges at point of dealing, and on scanning I missed seeing the stars pointing to clarification notes. Thank you @ AndaIG and @gezmond for clarifying.