Trading FAQ's
Trade shares online from as little as £8.50 through our online share dealing service.
Shares Quicklinks
Share Dealing FAQs
We aim to answer all you questions as quickly and completely as possible. This section covers the frequently asked questions but feel free to contact us with any other questions you have.
SETTING UP THE SERVICE
- Why should I use Moneyextra Sharedealing?
- Who can open an account?
- How do I set up an account?
- Why do you need to see identification, and what type is acceptable?
- Who do I need to provide documentation for?
- What do I need to provide?
- How do I logon to my account?
TRADING
- How do I buy shares?
- What stocks can I trade in?
- What price do I trade at?
- How long does it take to buy shares?
- How do I decide what to buy?
- How do I sell shares?
- What is a nominee account?
- When can I access my account?
- Can I trade in the evenings / at the weekend?
- What is a limit order?
- What is a stop-loss order?
- How do I receive confirmation of a trade?
- What if I make a mistake when I place an order?
USING YOUR ACCOUNT
- How do I put money into my account?
- How do I get money out of my account?
- How do I close an account?
- How do I know what my stocks are worth?
- How can I deposit shares I already own into my account?
- How can I withdraw shares I own from my account?
- What are Corporate Actions and how may they affect my account?
- How do I get paid dividends?
- How do I update my personal details e.g. change of address?
CHARGES AND INTEREST RATES
TROUBLE SHOOTING
- How do I contact you?
- What do I do if I forget my username or password / PIN?
- Why can't I access / use my account?
- What happens if my computer system crashes when I am placing a trade?
- I tried to log on but got a message saying 'Unable to locate server'. Why is this?
Why should I use Moneyextra Sharedealing?
We believe that Moneyextra Sharedealing is the best online sharedealing service, one that combines all the information of Moneyextra.com with an easy to use, low cost sharedealing service. We have two options on dealing accounts, either Trader or Frequent Trader, charges start from just £8.50 per trade. We provide a secure service, to give you peace of mind.
Who can open an account?
Anyone who is a UK resident and over the age of 18 can set up an individual account. For EU residents we suggest you contact our Customer Service team on 0845 077 7084 who can advise you of current eligibility.
How do I set up an account?
Simply complete your account application online by following the instructions. If we are able to confirm your details electronically, we'll be able to open your account immediately and you'll be able to choose a password to access your account. If this is not possible, you'll be asked to send supporting documentation. Once this is received, you should be up and running within 48hours.
Or you can print off and fill in the appropriate form that is available from a link on the Moneyextra Share Dealing home page, and send it to us with the required identification (see what identification is required and why).
For accounts sent by post, we will confirm the account reference numbers and send you an Internet PIN (if requested); this will usually be within a few days.
For accounts sent by post, or for those opened online where we have been unable to confirm your details electronically, we will need to see identification.
Why do you need to see identification, and what type is acceptable?
Share dealing, like most other financial services, can be used by criminals as a way of laundering the proceeds of crime, so we are required by the UK's anti-money laundering regulations to confirm your identity. These checks also protect your interests too, for they help prevent identity theft and fraud being committed against you.
Who do I need to provide documentation for?
Please send proof of identity for each person named on the completed application form or, where you are using our Certificate Sales service, for each person named on the share certificate(s).
If you already have a Moneyextra Share Dealing Account (provided by the Share Centre) you will not, in general, need to provide further evidence of your identity. However, we are required under the anti-money laundering regulations to re-verify your identity from time to time, especially if you have not used your account in the last 18 months. If you feel this might apply, to avoid disappointment, do please call us to find out whether we will need further ID from you.
What do I need to provide?
You will need to let us have two original forms of identification, one from each of the two lists (A and B) below. Each document you provide must be less than six months old and must show your title, (Mr. Mrs. etc) initials, surname, and permanent residential address.
Your original documents will, of course, be returned to you.
If you are not sure whether your available documents are suitable, or if you are having trouble providing those documents listed below, do please call us.
Our Customer Service team will be pleased to advise on the suitability of the documents you plan to send us, and can discuss whether or not alternative forms of ID will be acceptable. Call us on 0845 077 7084, from 08.00 to 18.00 Monday to Friday (excluding bank holidays). Please note: we reserve the right, at our discretion, to request additional proof of your identity.
Where incomplete documentation is provided it is possible we may be able to verify your identity by consulting a credit or mutual reference agency, (which may retain a record of our enquiry). Failing this, we will be unable to provide the service you have requested until we have been able to confirm your identity to our satisfaction: this could lead to a delay in processing your request or to our declining to provide the service requested.
Documents that are suitable for confirming your identity
List A
- A printed Bank or Building Society Account statement showing entries within the last six months.
We cannot accept a statement you have printed yourself via the internet so, if you have an internet-based account, unless you are also sending us a cheque drawn on that account, you will need to ask your Bank to send you a formal statement through the post. (Where you are applying for an Account with Moneyextra, the bank statement you provide must relate to the bank/building society account details you have included on your Account application.)
List B- Council tax bill (for the current year).
- Utility bill: gas, electricity, water or home telephone (but not for a mobile phone).
- Benefits notification letter from the Benefits Agency confirming the right to benefits (e.g. Child benefit, Working Families Tax Credit) or to the State Pension.
- HM Revenue and Customs correspondence or tax notification, e.g. notice of coding, statement of account, tax assessment.
As with bank statements, these documents must be originals sent to you by post, rather than ones printed from the internet.
How do I logon to my account?
Simply log in to your account from the Share Dealing home page, by clicking on the link at the top right of the page and entering your Customer Reference Number and PIN, and the requested characters from your memorable word.
How do I buy shares?
To buy shares you need to have already set up an account with Moneyextra Share Dealing. If you have an account set up you need to log in, then ensure you have money in your account. Once you are logged in select either a share already in your 'Stock Watch' or press the 'Buy Other Stock' button and follow the on-screen instructions. Alternatively, you can speak to one of our dealers by calling us on 0845 077 7084.
What stocks can I trade in?
You can trade in any of the shares quoted on the London Stock Exchange (LSE) that are settled by CREST, the automated settlement system used by the LSE. This includes most UK stocks as well as Unit Trusts, Investment Trusts and some AIM quoted companies. Selected US or European stocks are also settled in this way. Please call our Dealing team on 0845 077 7084 if you would like to check that a stock is valid for trading.
What price do I trade at?
When trading, the price offered on buying and selling shares is the real time price offered in the market place. However prices shown on the wide range of information tools available to you to research shares and markets are delayed by 15 minutes.
How long does it take to buy shares?
As long as you have sufficient funds in your account, and you know what you want to buy, you can trade immediately. If the markets are open and you chose to buy or sell at the market price, your order will be executed within seconds.
How do I decide what to buy?
It is up to you to decide what you want to buy, The Share Centre does however offer an advice service to Moneyextra.com customers on the telephone at no extra charge. Simply phone to register and they will send you a form to complete - the number is 01296 41 43 45 and is available between 8.00am and 6.00pm.
How do I sell shares?
If you hold shares with us you can sell them by simply logging in to your account (buy/sell) page and clicking on the 'Sell' button beside the stock you wish to trade in.
What is a nominee account?
This is where we hold your shares in a pooled account. At all times your shares are held for your beneficial entitlement. Using nominee accounts allows us to reflect your trades immediately in your account and means that you do no have to wait around for paper to be shuffled.
When can I access my account?
You can access your account at any time, 24 hours a day, 7 days a week, all year round. Trades submitted outside regular London Stock Exchange (LSE) trading times will be actioned as soon as the markets open for the next trading session.
Can I trade in the evenings / at the weekend?
Trades can be input into the system at any time but will only be dealt when the London Stock Exchange is actually open. Normal market hours are 8:00 to 16:30 Monday to Friday. Trades placed outside these times will be forwarded to be traded when the market next opens. You will automatically be asked to give a limit for any trade you enter out of trading hours.
What is a limit order?
A 'limit' order sets either a maximum or minimum price for an order at which you are prepared to buy or sell shares. These can either be just for that trading day or any number of days afterwards.
What is a stop-loss order?
A stop-loss is where you specify a price at which, in a falling market, you give automatic sale instructions. This is the minimum price at which you are willing to hold a stock and is a safeguard to minimise loss.
How do I receive confirmation of a trade?
Online trades that are dealt straight away will be confirmed on screen. You will also receive a contract note by e-mail, these are sent out in batches three times a day. You can also check that the deal has been executed, as it will show in 'processed orders' with your share dealing account online.
What if I make a mistake when I place an order?
You will be prompted to check the details of your order before you confirm your request to trade to help prevent you from making a trading error. In each instance you will receive the opportunity to abort the order. However should you make an error and confirm that error, we cannot accept any responsibility, nor can your trade be cancelled. However, any orders that you have placed with us, but have not yet been dealt, will appear under 'open orders'. By selecting the 'Delete' button next to the relevant order, you can remove any order(s) from this list. Please contact our Dealing team for additional help.
How do I put money into my account?
We offer three different ways to transfer money into your cash account.
1. Debit Card Payment - Use your debit card to put money into your account and, up to the value of £25,000, once electronically authorised it is immediately available for trading. Funds over £25,000 require 3 working days before being cleared for trading. This can be done by calling the customer services team on 0845 077 7084 .
2. Bank Transfer - You can ask your bank to transfer money into your sharedealing account:
The Share Centre Customer Transfer Account
Account No: 00100130
Sort Code: 12:21:37
Please ask your bank to quote your Customer Reference Number. Some banks may charge for this service.
3. Cheque - You can credit your account by cheque. Send us a cheque by post to:
Moneyextra Sharedealing
PO Box 2000
AYLESBURY
BUCKINGHAMSHIRE
HP21 8ZB
Again please quote your Customer Reference Number and make the cheque payable to The Share Centre. Cheques received for £25,000 or less can be dealt on day of receipt. If the cheque is greater than £25,000, please allow 3 working days for clearance.
How do I get money out of my account?
During office hours (8am - 6pm) you can request up to £10,000 by telephone in cleared funds from the balance in your account.
If you've paid into your account by debit card, withdrawals will be made back to the account linked to that card (usually this will be your bank account anyway). If you do need a cheque we can send you one. For your security, cheques will always be payable to the account holder. There is usually a small charge for this service, although withdrawing income on a quarterly basis by direct transfer to your nominated bank account is free of charge.
Transfers usually take three working days and there is no charge for this service. To transfer money out of your account, or to check your designated bank details, call the customer services team on 0845 077 7084 .
If the cash balance you want to transfer to your bank is greater than £10,000 a signed letter/fax of authority is required.
How do I close an account?
You can close your account at any time by notifying us at:
Moneyextra Sharedealing
PO Box 2000
AYLESBURY
BUCKINGHAMSHIRE
HP21 8ZB
We will ensure your shares are transferred out either to a new broker of your choice or to you in paper form, whichever you prefer. It is costly for us to handle paper and we charge a fee of £10 (excl VAT) per holding for transfers out in paper form. This helps us cover our costs. We would love to keep you as a customer so please let us know why you are leaving so we can see if we can solve any problems you have with our service.
How do I know what my stocks are worth?
Simply login to your account and click on "Portfolio (Buy/sell)" on the left-hand navigation.
How can I deposit shares I already own into my account?
You can transfer any UK Crest eligible stock that you already own as a paper certificate or in another broker's electronic nominee account by calling the customer services team on 0845 077 7084.
Please note:
It is important that you register with Moneyextra Share Dealing before transferring your stock to us. Paper certificates should not be forwarded without a completed transfer form. Before you can transfer shares held in electronic format, you will need to advise us of the transferring brokers' 'Crest ID number'. This should be obtained from your current broker. This is a free service, we do not charge for transferring stock in, but please be advised that your existing broker may charge you.
How can I withdraw shares from my account?
You can withdraw shares from your nominee account by contacting the customer services team on 0845 0777 084. There are two ways of transferring stock out. One is to transfer stock electronically to another broker's nominee account. The second way is to transfer your shares back into paper certificates, this is also called 're-materialising' stock. We charge a fee of £10 (excl VAT) per holding for transfers out.
What are Corporate Actions and how might they affect my account?
If a Corporate Action is announced and affects one of your holdings, we will promptly notify you as to the nature of the action and what you need to do should you want to take up the Action. Once the Corporate Action has been processed, we will make any necessary changes to the holdings in your account. You will be able to see the effects of a change by viewing your account online.
How do I get paid dividends?
Any dividends earned on your shares will be paid to your share dealing account and held as cash. To aid with your tax responsibilities we will retain all tax vouchers on your behalf and a composite tax voucher will be forwarded to you following the end of the tax year, on 5th April. Alternatively, you can have your dividends paid to your bank account by BACS or automatically reinvested into the highest value stock in your portfolio or your nominated stock. Please contact our Customer Service team on 0845 077 7084 for further information or to change your current option.
How do I update my personal details?
In order for us to amend/update your personal details such as a change of address we will require a signed letter/fax. To notify us of a change of name we will require the original marriage certificate/decree absolute. Please contact the Customer Service team for further information on 0845 077 7084
What are the charges for trading?
At Moneyextra Sharedealing we believe that charges should be kept as simple as possible, and we don't try to hide behind confusing structures or offers like some other brokers.
Trader
£15.00 per trade (Regardless of size)
Inactivity charge of £2.50 (+VAT) per quarter, if no trades done in the 3-month period.
Frequent Trader
£8.50 per trade (Regardless of size)
£8.50 (+VAT) monthly subscription or £85 (+VAT) annually.
Statutory and Other Charges on both accounts
Panel of Takeovers and Mergers (PTM) levy of £1.00 on trades above £10,000 Stamp Duty of 0.5% on share purchases (1% for Irish stocks) Transfer of holdings out of Nominee account - £10.00 (excl. VAT) per holding.
Certificate sales
Flat fee of £20 per stock.
What interest rates will I get paid?
Gross Credit Interest is paid at Bank of Scotland Base Rate less 3.5% on your cash balances and credited to your Moneyextra Share Dealing account on a quarterly basis. Note: You are fully responsible at all times for making your own submissions to the relevant tax authorities regarding any money or investments in your account(s).
How do I contact you?
For Moneyextra Sharedealing enquiries you can contact on 0845 077 7084 . If you have a Moneyextra.com query you can contact us at customer.services@moneyextra.com.
What do I do if I forget my PIN?
If you forget your Customer Number or PIN for Moneyextra Sharedealing, please telephone our customer services team on 0845 077 7084 . In order to verify your identity you will be asked some personal account related questions. For security reasons we cannot confirm your PIN over the telephone and a reminder will be sent out by post.
Why can't I access / use my account?
There could be a few reasons why you are unable to access or use your account. You may be using the wrong PIN. In any case, please call us on 0845 077 7084 .
What happens if my computer system crashes when I am placing a trade?
In urgent circumstances you will be able to place an order by telephone and have this executed by our dealers. Simply call the customer services team on 0845 077 7084 .
I tried to log on but got a message saying 'Unable to locate server'. Why is this?
You may be trying to access your account from an environment that does not support secure servers. Please contact your Internet Service Provider (ISP), or if at work, your system's administrator to address the situation.
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