Cheap Online Share Dealing

In my quest to make my hard earned money work as hard as possible, I need to find a cheap online broker so that the dealing fees I incur have the minimum effect on my portfolio’s profitability.

As I mentioned in a previous post, dealing fees can eat into your capital, so the less I spend buying and selling shares, the more money I have to invest.

The Share Centre have introduced a Premium Trading Option, but at £2500 + VAT is this really the way to go?

I’ve had a look around the internet over the last couple of days, to find out which online broker offers the cheapest dealing fees. Two candidates have stood out. (I think “x” “o” stands for eXecution Only) has a headline flat rate of £5.95, whatever the size of the trade. And there’s no annual admin fee. is a brand name of Jarvis Investment Management Ltd (Jarvis) who also back the N&P share dealing account I have and I’ve been happy with their platform so I would assume uses the same backend.

The other online dealing service on my radar is JPJ Share.
Their headline rate for online dealing is an astonishing £4.75 per trade. A little digging tells me that this is the rate when you trade over 15 times per calendar month. Deal less than 15 times in a calendar month and the costs is £5.75 (20p cheaper than When you do trade over 15 times, the “frequent trader discount” is refunded during the following month.

And subscribers to T1PS.COM pay just £4.25 per trade, but I’m not sure if this is a frequent trader price. is a trading name of Rivington Street Stockbrokers Limited which is licensed by the Isle of Man.

This is a very simplified look at the and JPJ Share offers. It’s not just the cost of dealing that you should be considering of course. Other factors influencing your choice could include:

  • Whether they employ a “price improver” service which could purchase shares at a cheaper price than other brokers
  • Whether there’s a quarterly or annual management fee
  • Whether they charge for corporate actions
  • Whether they charge to withdraw funds
  • What research tools they offer
But as the point of this post was to highlight the cheapest online share dealing service then JPJ Share pips at the post, especially if you are likely to be a “frequent trader”. However, I’m not sure if there are an implications of using an Isle of Man broker.
On balance, I think I would go for, simply because I have experience using the N&P platform, which I assume would be similar to given they are both backed by Jarvis.

One Reply to “Cheap Online Share Dealing”

  1. Thought I should update this post to make mention of iWeb.

    This online service (from Halifax share dealing), now offers share dealing for just £5!

    There’s a £25 one-off joining fee, but I think this is worth it for on-going share dealing at just £5.

    While the Amateur Investor doesn’t have an account with iWeb at the moment, this will not be the case for much longer.

    I will report back on the service at a later date.

    In the meantime, do any A.I. readers use iWeb?

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