Best app or trading account for S&P 500

[moforfra24]

@edgemon03 If your plan is to keep the amount invested long term, why not consider a free GIA account on freetrade? You can still buy VUAG and over the longer term, I'd guess you're still likely to profit rather than pay £5.99 each month (I use a GIA and that's what I'm betting on at least).

Partial shares yes, you can't do that on free trade with a GIA, I just checked

Edit: I've just stumbled onto the amazing resource that is UKPF Wiki, and it is making me rethink my choice (and suggestion) to use a GIA

 

[futantagenda]

@moforfra24 GIA’s are subject to capital gains tax though, if you’re investing long term you definitely want to be using a stocks and shares ISA

 

[monorth40]

@edgemon03 There are many ways for invest in the S&P500 on Freetrade. To avoid fractional shares you can £GSPX which is currently £7.40 per share

 

[edgemon03]

@monorth40 Is this like investing in the S&P 500 but without paying the VUAG £67 / £70 for example. I could pay £50 per month into GSPX.

Thanks!

 

[toddje]

@edgemon03 At this low amount likely a regular fund rather than an ETF is the best option. This would also be free with HL.

 

[nt333]

@edgemon03 Just remember that you have 3 charges involved in any investment

1/ the platform fee - just holding investments will cost a % (0.25% to 0.45%) or fixed fee on total value held, some have limits on charges (mainly for the top end)

2/ dealing fee - the cost of buying and selling, range from free to £11.95, some differ if a fund/OIEC or ETF (treated as a share)

3/ investment fee - the cost of holding from an investment provider eg iShares, Vanguard say 0.09% to 0.25% (don't pay more than 0.4% for any tracker as plenty of good cheap ones exist)

ISA would be best for long term as all gains are tax free.

Good luck!

 

[edgemon03]

@nt333 Thank you for this. So say I put £70 per month into H&L, for example, with a view of buying VUAG each month, will I have to pay the £11.95 each time.

Appreciate everyone’s help

 

[nt333]

@edgemon03 HL website covers this - https://www.hl.co.uk/investment-services/invest-by-direct-debit

like if you set up a DD money gets taken on 7th of the month, invested on the 10th

it also states share dealing is now free using this process

Sounds a good way but just check all other costs.