Best platforms for telephone dealing
18 May, 2022
It’s no surprise that telephone dealing can be an expensive venture these days. While apps and the internet are a great route for straightforward trading, having the option to pick up the phone and speak to an actual human being is increasingly precious in this age of Siri and smartphones. Not only is telephone dealing often recommended for larger or more complicated orders, it’s also an important alternative for the visually impaired.
But despite its many benefits, dealing over the phone can come with some hefty fees attached, and different companies often have different charging structures. These can vary from a flat fee to a percentage based on the total value of the trade being conducted. On top of that, if you want to get your trades sent to you as paper statements for safe-keeping, you usually have to pay an additional charge.
All of these fees can stack up pretty quickly, and our research found that you can rack up a bill from the hundreds to even the thousands. So if you’re looking for a breakdown of what the most popular telephone dealing platforms charge, scroll down!
Telephone dealing charges
For the purpose of evaluating the Estimated Fee, we crunched the numbers using the following assumptions:
Total portfolio value: £250,000
Number of fund trades: 15
Average trade value: £5,000
Number of paper documents: 5
The third column states the standard fees you can expect from each provider. The fourth column shows you what those fees can add up to based on the above assumptions.
*Only for 1st year. No annual fee.
For more information on the providers listed above, check out our compare table and click on "Learn More" for each one!
Best platforms for customer service
Looking for a convenient and customer-friendly platform to trade over the phone? Check out the winners of our Best for Customer Service Award 2022! We phoned providers, tested chat functions and assessed accessibility and availability of support through multiple channels. Lengthy hold times and unhelpful answers to questions generally resulted in poorer scores.
More on trading funds
Want to know more about how to trade funds? Check out our in-depth guide to funds, and if you're looking for the most popular ones on the market, head over to our breakdown of the best-selling funds of April 2022!
More on trading shares
Want to find out more about trading shares? Head over to our shares guide to get a full breakdown of the what, why and how. Once you've done that, be sure to view the best-selling shares of April 2022!
