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Trading sterling equities with NIB

  • 11-02-2011 3:24pm
    #1
    basejumper
    Closed Accounts Posts: 9 ✭


    I've a NIB Easy Access current account which I use for share trading with their eBanking facility. I'd like to buy some UK listed shares, but I'd like to minimize the euro-sterling & sterling-euro conversions while trading.

    I enquired with NIB about a sterling account so that I could use it to avoid those conversions, but was advised the minimum sterling balance is £10,000. This level of a minimum balance is a bit out of my league.

    Does anyone use such a sterling account with NIB for share trading, and is this the minimum balance which you have found must be kept in the account?

    Other than the NIB option, I suppose opening an account with another online broker (e.g. TDWaterhouse?) might achieve what I'm trying to do? That is, not have to have a large minimum deposit in the account, and low fees for using the facility (along with it being secure and trustworthy).

    Thanks in advance for any info


Comments

  • #2
    freeze4real
    Registered Users, Registered Users 2 Posts: 2,540 ✭✭✭freeze4real


    basejumper wrote: »
    I've a NIB Easy Access current account which I use for share trading with their eBanking facility. I'd like to buy some UK listed shares, but I'd like to minimize the euro-sterling & sterling-euro conversions while trading.

    I enquired with NIB about a sterling account so that I could use it to avoid those conversions, but was advised the minimum sterling balance is £10,000. This level of a minimum balance is a bit out of my league.

    Does anyone use such a sterling account with NIB for share trading, and is this the minimum balance which you have found must be kept in the account?

    Other than the NIB option, I suppose opening an account with another online broker (e.g. TDWaterhouse?) might achieve what I'm trying to do? That is, not have to have a large minimum deposit in the account, and low fees for using the facility (along with it being secure and trustworthy).

    Thanks in advance for any info


    one of my mates uses NIB and he has less than a thousand in his account.

    he just has a normal account with them and they charge him 20e per transaction.


  • #3
    Thargor
    Registered Users, Registered Users 2 Posts: 18,122 ✭✭✭✭Thargor


    I use it aswell and I dont think they've ever screwed me for converting € to £, seemed to be the going rate I got every time, plus the €20 for the trade.


  • #4
    poodles
    Registered Users, Registered Users 2 Posts: 426 ✭✭poodles


    basejumper wrote: »
    I've a NIB Easy Access current account which I use for share trading with their eBanking facility. I'd like to buy some UK listed shares, but I'd like to minimize the euro-sterling & sterling-euro conversions while trading.

    I enquired with NIB about a sterling account so that I could use it to avoid those conversions, but was advised the minimum sterling balance is £10,000. This level of a minimum balance is a bit out of my league.

    Does anyone use such a sterling account with NIB for share trading, and is this the minimum balance which you have found must be kept in the account?

    Other than the NIB option, I suppose opening an account with another online broker (e.g. TDWaterhouse?) might achieve what I'm trying to do? That is, not have to have a large minimum deposit in the account, and low fees for using the facility (along with it being secure and trustworthy).

    Thanks in advance for any info


    TD Waterhouse charge 1.75% over the base fx rate when converting.


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