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Lloyds Share Dealing Account


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#1 The Masked Tulip

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Posted 02 September 2011 - 02:02 PM

Mods, can you leave this hear for a few hours as would be interested in other HPCers views.

I have a cash ISA with Lloyds and have been thinking of moving it into a Lloyds share dealing ISA account. I already have a Selftrade and have decided to opt for a bit of variety. I thought I would opt for Lloyds as, in theory, it should be easy to transfer between one part of Lloyds and another (some hope.)

Problem is, have tried to visit their share dealing site this afternoon and I keep getting error messages that the site is down.

An error occurred on the server when processing the URL. Please try again later.


Has anyone ever used Lloyds for share dealing and, if so, what do you think?

Can't say I am impressed if the site is not accessible - anyone know if this is normal or are people just panic selling this afternoon?
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#2 The Spaniard

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Posted 02 September 2011 - 02:08 PM

Since you will be paying the annual Selftrade fee (£42) in any case, why do you want to run a Lloyds account in parallel and incur further expense?

Do they offer something that Selftrade doesn't?

Edited by The Spaniard, 02 September 2011 - 02:14 PM.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Imagine a society that recognizes for the first time its need for a universal medium of exchange.

Someone offers to run this new system, on condition that he alone issues the necessary tokens of exchange. He proposes to lend out the tokens for everyone else to use to conduct their business, but only if they pay him interest for this use.

Would you support his proposal or would you think he was trying to scam you? Why would you think that his tokens were better than anyone else's?

Should the medium of exchange be issued collectively and debt-free as a utility for productive enterprise and trade, or should it be lent into existence at interest by a privileged but essentially unproductive minority, as a cost to and as a drag on everyone else?


http://www.positivemoney.org.uk

#3 crash2006

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Posted 02 September 2011 - 02:12 PM

have you looked at http://www.svssecurities.com ISA share dealing accounts, iam in the process of doing it, there are no management fees etc.. just the trade fee of 5.95.

Edited by crash2006, 02 September 2011 - 02:13 PM.

Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world.
Privatize the profits socialize the losses.
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We did'nt see this coming

Biflation

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#4 The Masked Tulip

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Posted 02 September 2011 - 02:19 PM

Since you will be paying the annual Selftrade fee (£42) in any case, why do you want to run a Lloyds account in parallel and incur further expense?

Do they offer something that Selftrade doesn't?



Just being practical with regards to the UK guarantee of 85K which actually covers Selftrade and others.

No, I don't have 85K in Selftrade but I am using self-select shares in an ISA as long-term saving planning. I simply don't want all my eggs in the same basket like I don't want all my savings in one bank.

The site not working turned out to be google having an old Lloyds ad link at the top which is now different to the real url which appears a bit further down google's search results.

Thanks.
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#5 The Spaniard

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Posted 02 September 2011 - 02:26 PM

Just being practical with regards to the UK guarantee of 85K which actually covers Selftrade and others.

No, I don't have 85K in Selftrade but I am using self-select shares in an ISA as long-term saving planning. I simply don't want all my eggs in the same basket like I don't want all my savings in one bank.

The site not working turned out to be google having an old Lloyds ad link at the top which is now different to the real url which appears a bit further down google's search results.

Thanks.

Does the £85k limit apply to nominee share/bond holdings bought through and held by a stockbroker? I thought it applied only to bank deposits.

Aren't clients' non-cash holdings ring-fenced and immune to Selftrade going bust?

Are there any stockbroking professionals here on HPC who can reliably inform us?
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Imagine a society that recognizes for the first time its need for a universal medium of exchange.

Someone offers to run this new system, on condition that he alone issues the necessary tokens of exchange. He proposes to lend out the tokens for everyone else to use to conduct their business, but only if they pay him interest for this use.

Would you support his proposal or would you think he was trying to scam you? Why would you think that his tokens were better than anyone else's?

Should the medium of exchange be issued collectively and debt-free as a utility for productive enterprise and trade, or should it be lent into existence at interest by a privileged but essentially unproductive minority, as a cost to and as a drag on everyone else?


http://www.positivemoney.org.uk

#6 The Masked Tulip

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Posted 02 September 2011 - 02:28 PM

Does the £85k limit apply to nominee share/bond holdings bought through and held by a stockbroker? I thought it applied only to bank deposits.

Aren't clients' non-cash holdings ring-fenced and immune to Selftrade going bust?

Are there any stockbroking professionals here on HPC who can reliably inform us?




If you look on sites like Selftrade the FSA info is printed there. Some share dealing sites openly state they are regulated by the FSA in this regard - the ones located in the UK do anyhow.

I had never given it a second thought until there was talk of Soc Gen possibly going under - Soc Gen owns Selftrade apparently.
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#7 Spot

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Posted 02 September 2011 - 03:00 PM

Is there anyone out there that offers facilities similar to Self Trade but without the £42 annual charge?
I opened up an account a few years ago due to getting company shares and since then i've occassionally dabbled/gambled (unsuccessfully) with the odd share but this annual fee is an annoying expense i'd rather do without.
I just want some where to "park" my shares.

#8 newbie

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Posted 02 September 2011 - 03:14 PM

They are abolishing 'busts'. It's for your own safety as they don't want you to try to catch falling knives.

#9 Rigsby

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Posted 02 September 2011 - 03:20 PM

Has anyone ever used Lloyds for share dealing and, if so, what do you think?

Dear Mr Tulip,

I have found the Halifax Share Dealing website to be an absolutely top hole & easy way of losing an absolute shed load of cash on useless friggin' shares.

Best regards

Rigbsy

#10 crash2006

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Posted 02 September 2011 - 03:28 PM

Is there anyone out there that offers facilities similar to Self Trade but without the £42 annual charge?
I opened up an account a few years ago due to getting company shares and since then i've occassionally dabbled/gambled (unsuccessfully) with the odd share but this annual fee is an annoying expense i'd rather do without.
I just want some where to "park" my shares.



reed my post.
Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world.
Privatize the profits socialize the losses.
Posted Image
what i think the coming year will bring
">
http://william-king....money/MOH1.html

i'm an economic prop3rty expert

We did'nt see this coming

Biflation

Posted Image


#11 The Masked Tulip

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Posted 02 September 2011 - 04:46 PM

Has anyone ever used Lloyds for share dealing and, if so, what do you think?

Dear Mr Tulip,

I have found the Halifax Share Dealing website to be an absolutely top hole & easy way of losing an absolute shed load of cash on useless friggin' shares.

Best regards

Rigbsy



Thanks Rigsby.
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#12 Lagarde's Drift

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Posted 02 September 2011 - 08:34 PM

For non HL clients, they have recently changed their pricing structure and don't charge regular fees anymore, just pay per transaction. Also, the transaction costs are cheaper for higher frequency traders, from£12 right down to £5 per trade. Not too bad for website downage too. Not perfect, but not bad.

Oh and a new phone app for mobile trading too.

They used to have downsides but seem to be improving step by step. The company itself may be worth a small investment

#13 The Spaniard

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Posted 05 September 2011 - 04:07 PM

From the Selftrade website:

Client Money and investments

As an execution-only broker, we take instructions on behalf of our clients or their representatives and place these in the market place. Sales can only be undertaken on stock deposited in our registered nominee account.
Selftrade does not:

Engage in stock lending
Buy or sell investments for its own benefit
Provide any credit facilities to customers.
Selftrade is a profitable business, there are no borrowings and it has established a proven business model.

A key component of our income is generated from our customers' trading activity. We have a significant client base which provides protection from low trading periods. An extremely small percentage of our income is dependent on the value of our customers' invested assets.

The security of our clients' assets is paramount to Selftrade: as a result the company is managed conservatively. As part of the Société Générale and Boursorama group we have strong internal controls and audit procedures

The following provides details of how your cash and assets are held, in addition to protections available to private investors together with links to appropriate sites where additional information can be obtained.

1. Cash

When we receive money from any person in connection with your Dealing Account we will hold it as "client money".

Client Money

Cash held as 'client money' is held in accordance with the FSA rules on Client Money, which requires us to hold it in one or more client bank account(s), segregating your funds from ours with banks that are regulated by the FSA or other European regulators. This money is held on deposit in trust accounts, so that any creditors would have no legal right to it. We cannot use any of this money to cover the company's obligations.

Client money is placed in a pooled client deposit account.

Our policy is to spread client money between different institutions so as to balance risks. We currently place client money with approved UK or European banks, including Boursorama or Société Générale or any other European bank. Our policy is continually reviewed internally by the Selftrade board, and is subject to wider policies within Boursorama and Société Générale. A copy of the list of approved banks is available on request.

2. Investments

When you hold stock with us, we hold that stock in a pooled account with Equiniti Financial Services Limited, which holds them through its nominees LR Nominees Limited, or with Cofunds Limited, which holds them through its nominees Cofunds Nominees Limited. Equiniti Financial Services Limited and Cofunds Limited are regulated by the FSA (FSA Register number 468631 for Equiniti Financial Services Limited and FSA register number 194734 for Cofunds Limited). You hold your stock with us in an account with us designated in your name.

Please note, as indicated in the section on Risk Warnings, that your investments will be held by the nominee in a pooled account together with those of our other clients. Therefore, the investments will not be distinguishable by client/beneficial owner, the type of account within which they were purchased or to which they were transferred or the country of residence of the beneficial owner.

3. Compensation Agreements

The Financial Services Compensation Scheme

As a firm authorised in the UK by the Financial Services Authority, eligible investors may be covered by the provisions of the Financial Services Compensation Scheme (FSCS) if Selftrade or a relevant bank (see below) is declared in default.

Deposits: Under the FSCS, in the event that a bank covered by the FSCS in which we hold your money (a ‘relevant bank’) is declared in default, each individual is entitled to up to £85,000 in compensation for losses across all of their deposits with that relevant bank. The £85,000 limit is the sterling equivalent of Euro 100,000; this limit was increased from £50,000 - effective from 31st December 2010.

For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank, including their share of any joint account, and not to each separate account.

Our current policy is to spread cash deposits between various European institutions (both UK and Non UK banks). UK banks will be covered by the FSCS; the other European banks will not be covered by the FSCS but are subject to the compensation schemes in their home state in accordance with the Euro 100,000 limit, which applies across the European Economic Area (EEA).

Our policy therefore offers protection with each of the relevant banks, subject to any deposits you may also have with those relevant banks.

Investments: are protected to a limit of £50,000 against default by an authorised firm (like Selftrade) declared in default.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Imagine a society that recognizes for the first time its need for a universal medium of exchange.

Someone offers to run this new system, on condition that he alone issues the necessary tokens of exchange. He proposes to lend out the tokens for everyone else to use to conduct their business, but only if they pay him interest for this use.

Would you support his proposal or would you think he was trying to scam you? Why would you think that his tokens were better than anyone else's?

Should the medium of exchange be issued collectively and debt-free as a utility for productive enterprise and trade, or should it be lent into existence at interest by a privileged but essentially unproductive minority, as a cost to and as a drag on everyone else?


http://www.positivemoney.org.uk

#14 bearwithasorehead

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Posted 15 September 2011 - 12:47 PM

Has anyone ever used Lloyds for share dealing and, if so, what do you think?

Dear Mr Tulip,

I have found the Halifax Share Dealing website to be an absolutely top hole & easy way of losing an absolute shed load of cash on useless friggin' shares.

Best regards

Rigbsy

eh? it's the platform's fault?

#15 jonb

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Posted 15 September 2011 - 04:42 PM

Just being practical with regards to the UK guarantee of 85K which actually covers Selftrade and others.

No, I don't have 85K in Selftrade but I am using self-select shares in an ISA as long-term saving planning. I simply don't want all my eggs in the same basket like I don't want all my savings in one bank.

The site not working turned out to be google having an old Lloyds ad link at the top which is now different to the real url which appears a bit further down google's search results.

Thanks.


The shares are physically held in trust for you, and in the event the broker goes bust, they will be transferred over to you. Therefore the £85k guarantee doesn't apply.




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