Frequent investor
The frequent investor service is for investors who wish to trade more regularly on the stock market and may even wish to deal in international investments.
With the frequent investor service you buy and sell shares by phone, with Stocktrade holding your shares in a nominee account. The benefits include speed and worldwide trading. And, to keep your portfolio up to date, you can have a valuation issued any time you ask, free of charge.
- Speed: Because Stocktrade doesn't have to physically handle share certificates, the settlement period is generally cut to just three business days. That means you can move on swiftly to your next transaction – a real bonus for serious investors.
- Worldwide trading: The frequent investor service gives you access to the world's other major stock markets in Europe, North America, South Africa and Australia. Wherever the deal is made, Stocktrade aims to provide a fast, efficient service. Please note that currency fluctuations may affect the value of your investment.
- Information for your tax return: At the end of the tax year Stocktrade will send you a consolidated tax voucher which will help when you complete your annual tax return.
Charges
There's a charge of 0.5% of the value of each trade, subject to a minimum of £12.50 and a maximum of £50. In addition, there is a quarterly charge of £10 plus VAT. If you deal in foreign shares, there may be a clearing charge of between £20 and £50, depending on which market you invest in.
You may also have to pay 0.5% stamp duty on UK share purchases (1% on Irish share purchases) and a Panel of Takeovers and Mergers levy of £1 on single deals over £10,000.
Before buying shares by phone you must make sure that you have enough cleared funds in your debit card account to pay in full. You'll need to have your debit card with you when you make the transaction. Stocktrade accepts Maestro, VISA Delta, Connect and Solo. It does not accept credit or payment cards or cheques.
Registering
To join the frequent investor service you'll have to register with Stocktrade. It's free and there's just one simple form to fill in. You can download it or ask for a copy by phoning 0131 240 0690 between 8am and 5pm, Monday to Friday. Please note that your call may be recorded. Calls to this number are charged at a standard rate.
What happens to the proceeds of any sale?
Once the sale is complete, Stocktrade will transfer the proceeds to your Nationwide FlexAccount. If you don't have a FlexAccount, Stocktrade can credit another account that is in your name and is part of the BACS system.
Please note that the frequent investor service is a pooled-nominee service. This means that dividends can only be accepted in the form of a cash payment and not as additional shares (scrip dividends). In addition, as a frequent investor, you won't receive literature from companies that you invest in. A £15 exit fee may also be charged if you convert your stock into share certificates that will be held outside the Stocktrade nominee account. Currency fluctuations may affect the value of your investment.