Clubfinance - Frequent Trader

rthak
Posts: 3
Joined: November 22nd, 2016, 10:08 am

Clubfinance - Frequent Trader

Postby rthak » January 4th, 2017, 11:40 pm

Hi

Is anyone on or has used the Clubfinance frequent trader platform.

I'm considering signing up but any reviews, good or bad, would be most appreciated.

Many thanks

Cortana
Posts: 10
Joined: December 12th, 2016, 7:47 pm

Re: Clubfinance - Frequent Trader

Postby Cortana » January 8th, 2017, 9:18 pm

Hi
I've used Clubfinance for about 5 years now. I'd say overall they are very good and the trading platform is very simple and useable.

When I originally opened the account it was only 50p a trade with a very small percentage charge based on your portfolio value.. Then it went up to £2.50 again with the percentage charge. The overall value over the year has beaten any other broker hands-down. I must have saved a small fortune on costs. This year they have upped the price to £4.95 and got rid of the percentage charge. So its only 5 pence cheaper than iwebsharedealing which I find the best platform. However I think iwesharedealing now have a £200 account opening fee.

So overall yes I'd definetly recommend it. Still very cheap and easy to use. One thing to watch out for though is sometimes for an illiquid stock they will quote a price that is well above the actual live price. Any other broker I've used would tell me to phone up or place a fill and kill order but Clubfinance quote a sometimes very high price to buy immediately so you need to be aware of that.

rthak
Posts: 3
Joined: November 22nd, 2016, 10:08 am

Re: Clubfinance - Frequent Trader

Postby rthak » January 9th, 2017, 11:30 am

Cortana wrote:Hi
I've used Clubfinance for about 5 years now. I'd say overall they are very good and the trading platform is very simple and useable.

When I originally opened the account it was only 50p a trade with a very small percentage charge based on your portfolio value.. Then it went up to £2.50 again with the percentage charge. The overall value over the year has beaten any other broker hands-down. I must have saved a small fortune on costs. This year they have upped the price to £4.95 and got rid of the percentage charge. So its only 5 pence cheaper than iwebsharedealing which I find the best platform. However I think iwesharedealing now have a £200 account opening fee.

So overall yes I'd definetly recommend it. Still very cheap and easy to use. One thing to watch out for though is sometimes for an illiquid stock they will quote a price that is well above the actual live price. Any other broker I've used would tell me to phone up or place a fill and kill order but Clubfinance quote a sometimes very high price to buy immediately so you need to be aware of that.


Thanks very much - very useful!


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