Customers of Selftrade.co.uk who don't trade at least twice in a quarter (since April 2018) are being hit with a quarterly balance eroding custody fee of at least £17.99. Which might not sound like much but for small retail investors who tend to be invested in ISA's for the long-run its going to amount to a sizeable drain on their ISA accounts of at least £72 per year. And the charges would be even higher for those who hold SIPPS with Selftrade.co.uk

Charging period 01 October 2018 – 31 December 2018

Custody Fee calculation

Base Fee	12.50
Dealing Account Product Fee	0.00
ISA Product Fee	4.99
SIPP Product Fee	0.00
Custody Fee Sub Total	17.49

Low activity customers of the likes of selftrade.co.uk or those with disbursed holdings amongst several brokerages need to seek to act by looking into moving / consolidating their ISA accounts to brokerages that don't slowly drain their investment accounts with quarterly custody fees.

Nadeem Walayat

http://www.marketoracle.co.uk

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.