Self Trade www.selftrade.co.uk Review

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1.2 stars
Average rating for this product is: 1.2 out of 5

From 1 rating and 28 reviews

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andymcj's Review of Self Trade www.selftrade.co.uk

26th May 2009

Overall Rating

1.5 stars
  • Value for money
    1 stars
  • Speed of transfer
    2.5 stars
Good Points

Faster trade times (4 minutes) than iii.co.uk (40 minutes) after the open.
Decent web interface for making the trades simple.
Fairly good communication


Bad Points

New Annual fee of £40
Higher priced trades £12.50
Low limit on how many shares can be purchased/sold
Variable limit based on price
Dealer desk trades tend to get lower than current market price
Very bad performance at peak times when stock prices are volitile.
No communication from the dealer desk when asked and no reply to messages over the phone.
System down at crucial times


General Comments

SelfTrade trys to offer a good service, however they seem to be suffering from technical problems, I have over £100k invested with them, but like others in these reviews I have missed the opertunity to make money due to the system problems and also the limits imposed by Selftrade, for instance the maximum you can trade electronically with ACU was 100'000 shares when they were 9.87 but when they reached 11 I could only sell 50'000 shares, and as I hold 300'000 this would take 6 trades at £12.50 and they have the cheek to now introduce an annual charge of £40 for this poor service.

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