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Compare our best execution only share dealing accounts

Get more control over your share trading decisions

With execution only share dealing, you make all trading decisions including which stocks to invest in and when to buy and sell.

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What is execution share dealing?Charges to look out forPros and ConsOther optionsTax implicationsJargon busterFAQs

What is execution only share dealing?

Execution only share dealing is a type of stock trading offered by a broker that lets you buy and sell shares without getting personalised advice on which ones to choose.

You make the trades yourself, either through a platform or by calling your execution-only broker. Because no one is advising you, you cut the cost of share dealing by avoiding the fees that come with advisory brokers.

This kind of account is best suited to people with a lot of investment experience, as you will be responsible for choosing what you invest in and when. You need to research the markets and manage your investments.

To start share dealing you need to open a share dealing account that offers an execution-only option. Then you can add money to it and start buying and selling shares.

What charges to look out for with execution only accounts

There are four main charges to look out for when choosing an execution only share dealing account:

Charge per trade

--This is what you pay for each deal you make, whether you are buying or selling shares, e.g. £5.95 or £9.95 per trade. If you decide to trade over the phone, charges are often significantly higher, around £20-£50.--

Platform fees

--This is what some brokers charge for using their platform, which can be taken monthly or annually, e.g. £9.99 per month, and the amount charged may be tiered and differ depending on what you invest. Some platforms don’t charge these fees, while others charge a percentage of the investment, so it’s worth shopping around.--

Transfer fees

--Most brokers don’t charge a fee when you transfer money out of your account.--

Frequent trader rate

--This isn't offered by all providers, but some share dealing companies offer a frequent trader rate for those who make regular trades. For instance, Hargreaves Lansdown charges £6.95 per trade for up to 19 deals a month, but this drops to £3.95 for regular traders. To qualify for this rate, you need to make 20 or more deals per month.--

Execution-only pros and cons

Pros

Buy or sell shares faster
Lower per-trade charges
No advisory costs

Cons

You take on all the risk
Charged per deal
No advice provided

What other options do you have?

Execution only stockbrokers are not the only option for those keen to invest in stocks and shares, There are two other types of share dealing broker you could consider:

  • Advisory: You get advice on which shares to buy and sell, but the deals you make are ultimately your decision

  • Discretionary: You give authority to your broker to buy and sell shares on your behalf, usually based on agreed investment objectives and your personal financial situation

“Execution only trading can be more risky, because you're making all trading decisions on your own. There’s a possibility that you could lose money on some of the trades you make.”

Lucinda O'Brien profile
Lucinda O'Brien
Senior finance editor

Do you have to pay tax on the shares you buy?

If your shares are held in an ISA, you will not need to pay tax on your profit or purchases. If they are in a different type of account, you may need to pay capital gains tax and stamp duty or stamp duty reserve tax.

The amount of capital gains tax you pay when you sell your shares will depend on your income tax bracket and how much money you have made from the sale.

Jargon Buster

FAQs

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About the author

Lucinda O'Brien profileLucinda O'Brien
Lucinda O'Brien has spent the past 10 years writing and editing content for regional and national titles. She applies her industry knowledge to ensure readers can make confident financial decisions.

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