Interactive Investor buys TD Direct in latest consolidation move


#1

Originally published at: http://whichinvestmenttrust.com/interactive-investor-buys-td-direct-in-latest-consolidation-move/

The former Dotcom darling will increase assets on its platform to £18bn following the move, which will see it cede control to a new private equity owner. Interactive investor is to purchase Canadian owned Toronto Dominion Bank’s European platform business TD Direct, in an ambitious move that includes the acquisition of its UK-based arm TD…


#2

I’ve been reasonably happen using Interactive Investor to hold my ISA and trading account.

Key advantage is a very flexible monthly investment scheme at £1.5 a share allowing any UK listed IT to be bought cheaply (unlike Hargreaves Lansdown rrestriction to FTSE350 only option).

They also let you buy model portfolios for a £10 fee, these are recommended and updated frequently by Money Observer.

They have a cheap VCT option , where they rebate the commission which I’ve used a couple of times.

I’ve not tried their SIPP option yet, still sticking with ATS and HL for those. I also had a dreadful experience transferring from Selftrade to Interactive Investor - but difficult to work out which party was to blame.

Web site is a bit basic but seems to work ok. Offering cheap monthly sells would also be a good improvement.


#3

£1.5 per trade is incredibly cheap. I mainly use ATS, and I only trade, maybe, 5-6 times per year, and usually only for funds or trusts.

I expect they will have a higher annual charge to compensate for the low trading fees @scjim ?

The model portfolios sound interesting too, I don’t buy Money Observer but I have read good things about it online somewhere.


#4

£1.50 per trade is ridiculously cheap so I assume there are high standing charges @scjim. If you trade a lot then this is probably a god option.

Money Observer are probably the best investing magazine so that’s a positive for me too. I will take a closer look at iii to see if it will work for me too from a cost perspective as well as an advice and information perspective.


#5

Just to clarify the £1.5 is for monthly buy trading only, which takes places once per month.
They charge £20 per quarter, but that includes £20 of trading credit - you can use the credit on the monthly buy option or standard trades (buy/sell) at £10 per time.


#6

How do you getting if you are getting good price for the shares though?


#7

Who is your question aimed at @Alex_Lee ?

And is your question about selling shares in a company or an investment trust?

Getting a good price for anything you sell depends on what you paid for it in the first place. You can look for external confirmation by looking at what analysts and experienced investors have to say about valuation and future prospects of the stock (be it a company or investment trust).