Our Regular Fees
Our management and administration fees are regular account charges that cover the ongoing services you receive from TD Direct Investing. These services include:
- Award winning online platform
- Access to shareholder rights, Morningstar® research tools and information
- Cash management services
- Safe custody of your portfolio
- Managing all corporate actions and dividend payments on your behalf
- UK based call centre with knowledgeable and helpful staff
| Account Type | Management or Administration Fee |
|---|
| Trading Account |
£12.50 + VAT per quarter
or |
£0 No fee when you:
- place 1 or more trades per quarter
- have an individual portfolio valuation of £15,000 or more
- have a Funds (Unit Trusts/OEICs) valuation of £10,000 or more
- have a Trading ISA or TD SIPP linked to your Trading account
|
| Trading ISA |
£30 + VAT per year
or |
£0 No fee when you:
- have an ISA balance of £5,100 or more
- have a regular investing facility set up
Note: The Administration Fee will be charged once a year on or around the first business day in June, calculated on the account value on the last business day in May or, where applicable, the day of closure. |
| TD SIPP |
0.25% of the value of the SIPP every 6 months charged on or around the first business day in June and December. Subject to a minimum of £40, and a maximum of £100, per collection + VAT. |
| Regular Investment Account |
£0 per year |
Funds Investing
| Unit Trust & OEICs |
|---|
| Online and Mobile Trading Commission |
Telephone Trading Commission |
Initial Sales Charge |
| Nil |
£40 |
From 0% |
Fund managers levy an Annual Management Charge (AMC) on their funds. This may include a payment to us as the distributor known as Trail Commission. Trail Commission received by us from the Fund Manager will be rebated in full to your appropriate account.
Platform Fee
TD Direct Investing will charge a Platform Fee against the value of your fund holding as follows:
| Fund | Platform Fee |
|---|
| Funds paying Trail Commission of 0.5% or more annually |
0.35% |
| Funds paying Trail Commission of less than 0.5% |
Nil |
The Platform Fee will be applied at the same time as the Trail Commission rebate. Both transactions will be individually marked on your statement.
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Our Trading Commission Rates
Our trading commission rates adapt with you, so you will automatically qualify for the best rate possible.
Online and Mobile Commissions
| Commission Rate | Standard | Frequent | Active | |
|---|
| UK Equities and ETFs |
£12.50 |
£8.95 |
£5.95 |
Trading Commission Rates apply to each individual account separately. Trades cannot be aggregated across accounts. Trades that are not eligible include - Certificated, Dividend reinvestment trades, Unit Trust, OEICs, New Issue, cancelled or deleted trades, zero commission, FX-only transactions, Regular Investing and promotional discounted trades. |
| International Equities and ETFs |
£17.50 |
£13.95 |
£10.95 |
| How do I qualify? |
- |
Average 10 or more trades per month across the last 3 consecutive months |
Average 20 or more trades per month across the last 3 consecutive months |
These commission rates apply to standard transactions and may change. You should confirm the current rate at the time of dealing and read the terms for all standard transactions as set out in our Terms of Service. International Commissions are charged in the customer settlement currency and multiplied by the conversion rate (if applicable) subject to the minimum and maximum charges shown. If orders are filled over a number of days, there is a separate commission charge for each day there is a fill.
Rates For Trade Values of £100,000 and Above
| £100,000 to £499,999 |
Normal commission rate + £30 |
| £500,000 to £999,999 |
Normal commission rate + £60 |
| £1million and above |
Subject to negotiation |
All Other Commission Rates
| Telephone trades |
The Online trading commission rate + £40 |
| Certificates |
The appropriate Online or Telephone trading commission rate + £50 |
| Dividend Reinvestment |
£1.50.
In order for the dividend to be reinvested it should have a value of £10 or more. |
Regular Investment Commission Rates
| Commission | | Minimum Subscription |
|---|
|
Buy |
Sell |
|
| FTSE 350/ETFs |
£1.50 |
Trading commission rate |
£25 |
| Funds |
Nil |
Nil |
£50 |
Purchases can only be made on the first and third Wednesdays of each month, subject to change.
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Foreign Exchange (FX)
The foreign exchange rate for all currency conversion is based on the bid/offer exchange rate to which TD Direct Investing apply a spread based on up to +/- 2.00% applied at the time of execution. Details are available on request.
Please note for trades which have required multiple fills to execute, you will be charged an FX at the rate applicable to each individual fill. This may result in a higher FX charge than would be calculated against the whole trade.
| Transaction Value | Margin Rates |
|---|
| £0 to £24,999.99 |
2.00% |
| £25,000 to £49,999.99 |
1.75% |
| 50,000 to £99,999.99 |
1.00% |
| £100,000 to £599,999.99 |
0.50% |
| £600,000 to £999,999.99* |
0.25% |
*Maximum electronic transaction size.
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Cash Interest Rates
| Sterling & foreign currency balances (USD, CAD, EUR, HKD, AUD, SGD, SEK and CHF) |
|---|
| Account Type | Gross | Net** | AER*** |
|---|
| TD SIPP |
0.10%* |
- |
0.10% |
| Multi Currency Savings Account† |
0.10%* |
0.08% |
0.10% |
*Relevant base rate less 1% subject to a minimum of 0.10%
**Net rate is the amount of interest which would be payable after the deduction of income tax at the rate specified by law. As the rate of tax may vary the net rate shown is for illustrative purposes only.
***AER stands for Annual Equivalent Rate (contractual rate when paid and compounded each year). The AER as stated was calculated at 04/12/12.
† Effective from 13th February 2013
TD SIPP
Interest will be calculated on your credit balance on a daily basis and credited to your Plan on or around the 25th day of May and November in any one year.
We receive interest from the bank with which your credit balance is deposited. A portion of the interest received on your credit balance is credited to you and a portion is retained by TD Direct Investing. The amount retained is 0.5% based on a weighted average interest earned on client money but may vary by 0.2% above or below the stated rate.
Multi Currency Savings Account
Any credit interest will be calculated on your cleared credit balance on a daily basis and will be credited to your account quarterly on or around the 25th day of March, June, September and December. Such interest will be paid net or gross as set out in our Terms of Service. “Gross” means the rate that will be paid to clients before the deduction of income tax. Where you are not eligible to receive gross interest, tax will be deducted at the rate specified by law. Any debit interest will be calculated on the debit balance in your account on a daily basis and will be debited from your account on a quarterly basis. Relevant banks are: Bank of England, European Central Bank, US Federal Bank, Bank of Canada.
We do not pay interest on Trading and Trading ISA accounts.
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Other Services
TD Protrader®
TD ProTrader® is an optional service offering live streaming Level 2 pricing. Access to the TD ProTrader® service will be charged to clients quarterly in advance, based on the schedule shown below:
| Band | Trades in Previous Qtr | Charge for Subsequent Qtr |
|---|
| 3 |
75+ |
FREE |
| 2 |
26 to 74 |
£50 |
| 1 |
Up to 25 |
£200 |
The Charging Period will be from the 1st day to the last day of each calendar quarter. These charges include VAT and will be levied against accounts within 5 working days of the quarter commencing.
Government Charges
| Stamp Duty and PTM Levy |
|---|
| UK Registered stocks purchases only† |
0.5% of transaction value |
| Irish Registered stocks purchases only |
1% of transaction value |
| Panel on Takeovers and Mergers (PTM) Levy - UK |
Flat charge of £1 on all transactions over £10,000 |
| Irish Takeover Panel (ITP) Levy |
Flat charge of €1.25 on all Irish transactions over €12,500 |
| Hong Kong – Equity & Company Warrants |
|---|
| All transactions |
Transaction Levy of 0.003%, Trading Fee of 0.005% & Stamp Duty of 0.1% |
| Singapore |
|---|
| All transactions |
A Clearing Fee of 0.04% subject to a cap of S$600 |
| Structured Warrants |
A Clearing Fee of 0.05% subject to a cap of S$200 |
| French Financial Transaction Tax |
|---|
| 0.2% for eligible French stocks with a market capitalisation over €1bil (revalued annually) and for eligible Depository Receipts. Please note that this tax is applied to each individual trade dealt in the eligible stocks. |
† Non-CREST eligible and CREST eligible residual stocks are subject to a minimum charge of £5.00, rounded up to the nearest £5.00.
For other country-specific transaction taxes, please see our website.
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Banking Charges
Banking Services (all accounts)
| Transaction | Fee |
|---|
| Unpaid Direct Debits |
£25 |
| Copies of Cancelled Cheques |
Nil |
| Internal Transfers |
Nil |
| Unauthorised Overdrafts |
£25+ Bank of England Base Rate plus 15% on the full amount |
| Returned Cheque for Insufficient Funds |
£25 |
Withdrawal Charges
Sterling (GBP)
Withdrawal options are dependent on whether Faster Payments can be sent to your nominated bank account. If you are not sure whether your bank account is enabled for Faster Payments, please contact your bank.
| Withdrawals to a Faster Payments enabled account |
|---|
| Standard Bank Transfer |
FREE |
| Urgent Bank Transfer (£100,000 and under) |
£15 |
| Urgent Bank Transfer (over £100,000) |
£25 |
| Withdrawals to a Non-Faster Payments enabled account |
|---|
| Urgent Bank Transfer |
£25 |
| Cross Border withdrawal |
£25 |
Euro (EUR)
| Standard Bank Transfer (if funds transferred from Trading Account) |
FREE |
| Urgent Bank Transfer |
€36 |
US Dollar (USD)
Canadian Dollar (CAD)
Charges are paid at the point of withdrawal.
You must ensure that sufficient funds are available to cover the transfer amount and the applicable charge.
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Other Charges
| Transfer In of UK Stock |
FREE |
| Transfer Out of Stock |
£35 per holding |
| Transfer in and re-registration of European Securities – stocks listed on European (not including the LSE) Exchanges |
£35 |
| Transfer in and re-registration of Asian and Australian Securities – stocks listed on Australia, Hong Kong or Singapore Exchanges |
£150 |
| Withdrawal of Nominee stock as a Certificate |
£35 per holding |
| Unpaid Cheque |
£25 |
| Late Payment |
£25 + Bank of England Base Rate plus 15% on the full amount |
| Sell Out Execution Fee due to non-payment |
£40* |
| Buy Back Execution Fee due to non-delivery of stock |
£40* |
| Duplicate Documents (including Consolidated Tax Certificate, Corporate Action Notification, Contract Note, Statement, 975 Certificate) |
£10 + VAT |
| Certificated CREST Rejection Fee |
£15 |
| Request for Replacement Share Certificate |
£35 + VAT and any other charges levied by third parties |
| Registration of Legal Documents (Estates) |
£35 + VAT |
| Portfolio valuations (probate/other purposes) |
£10 + VAT per line of stock (minimum £50 + VAT) |
| Fractional entitlements arising from a Corporate Action |
up to £5 |
| Credit of tax adjustments on dividends |
up to £5 |
*Commission Charges will apply in addition to the Sell Out and Buy Back Execution fees.
Exit Costs
| Closure of an account |
up to £5 |
| Post termination of your account dealing with money/investments received into your closed account |
up to £5 |
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Trading ISA
Other Charges
| Plan Transfer In |
FREE |
| Stock Withdrawal |
£35 per holding
The Stock Withdrawal per holding charge does not apply for Account Transfer out and Closures |
| Cash Withdrawal |
See Withdrawal Charges (GBP) section |
| Plan transfer to another ISA provider |
£50 + the relevant ISA Administration Fee |
| Account Closure |
£50 +VAT (+ the relevant ISA Administration Fee) |
VAT will be charged at the prevailing rate where shown.
The tax treatment of these products depends on the individual circumstances of each client and may be subject to change in future.
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TD SIPP (Trustee and Scheme Administrator: AJ Bell)
Other Charges
| Initial Set Up Charge |
FREE |
| Plan Transfer In |
FREE |
| Plan Transfer Out Fee (Full and Partial) |
£75 + VAT + £35 per holding |
| Income Drawdown | Charge |
|---|
| Providing Income Drawdown until age 75 |
£150 per annum + VAT
The charge is payable even if you elect to take ‘nil’ income in any year. |
| Providing Income Drawdown from age 75 |
£250 per annum + VAT |
| Additional Withdrawal Tranches |
£75 + VAT |
| Annuity Purchase |
£75 + VAT |
| Death Benefits Payment |
Time/cost basis (indicative average £350 + VAT) |
| Flexible drawdown registration |
£75 + VAT |
| Closing your SIPP through flexible drawdown or trivial commutation |
£75 + VAT |
VAT will be charged at the prevailing rate where shown.
The tax treatment of these products depends on the individual circumstances of each client and may be subject to change in future.
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