Commission fees cut in a bid to attract more private investors to international stock markets

Commission fees on buying international shares online is being waived in a bid to attract more private investors to worldwide stock markets.

For a limited period Halifax Share Dealing, a leading execution-only broker, is offering its customers the opportunity to save £17.50 every time they buy international shares online.
 
The usual dealing commission charge of £17.50 will be waived from 8am on Tuesday 16 February to 9pm on Monday 22 February, the company has announced.

The fee saving will apply to every time a customer logs on to buy shares on six of the world’s largest markets including New York and Paris. It will give investors the opportunity to access some of the world’s best known companies such as Apple, Google and Bank of America.
 
‘Trading on the international markets is growing in popularity. We have seen 32% more international trades in January 2010 compared to January 2009,’ said Rick Girling, Managing Director of Halifax Share Dealing.
 
‘We believe it is important to offer all our customers, be they new or long-standing, the chance to explore a range of investment opportunities to diversify their investment portfolios. Some may not have tried investing in international stocks before, so this offer gives customers an easy and cost-effective chance to dip their toe in international waters,’ he added.
 
To open a share dealing account online, private investors should complete the online registration and will need bank account details, National Insurance number and address details for the last three years to complete the short registration form.
 
If they’re new to the online service they will be sent a temporary password through the post. To complete the registration they will then need to go key in their username and temporary password. Once the account is activated, customers can then trade on the international markets through a Sterling account.
 
US and many European stocks can be bought without having to pay stamp duty and markets such as the NASDAQ and NYSE can be traded real-time up until 9pm GMT. Foreign currency conversions are required to facilitate the settlement of international trades and include a spread, which is applied to the Available Exchange Rate.
 
The usual cost of online trades is a flat rate of £11.95 commission for UK stocks and £17.50 commission for international stocks.  Telephone commission rates start from £15 for UK stocks with internationals being a flat-rate of £20.  It holds stock on behalf of the customer electronically giving additional protection again boiler room scams.