Commission for first month (UK)

[Ben]

Really sorry if it's been asked before but couldn't find the info.

Can anyone please breakdown how the commission costs works on a share dealing account, especially for the first month, as I couldn't find the information I was looking for on here: https://www.ig.com/uk/investments/share-dealing/costs-fees

e.g. If I opened an account on 1st Nov and made 3 trades that month on US shares I will be charged £10 commission on each trade, totalling £30?

The next month, because I've traded 3 US shares in the previous month I won't pay any commission? And this will be true as long as I continue to make 3 trades per month?

So if I'm not in a rush to buy shares it would be kind of pointless doing any more than 3 trades in my first month as I'll be charged £10 for each one? I may as well wait to trade in month 2 as there is no commission? Ignoring the fact I may lose out if share prices go up in month 2, is the above correct?

Many thanks,

Ben

[OfentseIG]

10 hours ago, Ben said:

Really sorry if it's been asked before but couldn't find the info.

Can anyone please breakdown how the commission costs works on a share dealing account, especially for the first month, as I couldn't find the information I was looking for on here: https://www.ig.com/uk/investments/share-dealing/costs-fees

e.g. If I opened an account on 1st Nov and made 3 trades that month on US shares I will be charged £10 commission on each trade, totalling £30?

The next month, because I've traded 3 US shares in the previous month I won't pay any commission? And this will be true as long as I continue to make 3 trades per month?

So if I'm not in a rush to buy shares it would be kind of pointless doing any more than 3 trades in my first month as I'll be charged £10 for each one? I may as well wait to trade in month 2 as there is no commission? Ignoring the fact I may lose out if share prices go up in month 2, is the above correct?

Many thanks,

Ben

Hi @Ben

That is correct. 

If you make 3 trades on US stocks in the month of November, you won't pay commission in December. This will continue as long as you make 3 trades per month. This also applies to UK stocks. If you make 3 trades on UK stocks this month paying commission of £8, you will be paying reduced commission of  £3 in the next month. 

You can make 3 trades in the first month and countless trades in the second month. You still won't be charged commission in the second month. All the best, OfentseIG