IWeb is an on-line, execution only stockbroker and is owned by Halifax Share Dealiing Limited and IWeb is trading name of Halifax plc stockbroking services. originally owned as IMIWeb by one of the largest banks in Europe - SANPAOLO IMI.
IWeb has become the fastest growing broker in the UK, both in terms of quarter on quarter growth in bargains transacted throughout 2002, and year on year growth in customers registering for the IMIWeb service.
IWeb allows you to trade in London, New York, Frankfurt, Paris, Milan, Amsterdam and Brussels - all through one sterling account.
They charge a £5 flat fee in London and for seven overseas markets and there is no registration fee, no quarterly fees and no annual fees.
IWeb gives you access to all the available markets through one single account.
And to make things easy for you, this account is denominated in £ sterling.
Your trading is done through one account and the portfolio is valued in £ sterling, whatever market you chose to trade in. You may use the portfolio view to monitor your total global assets in a single currency and in a clear and simple single view.
Obviously foreign exchange movements affect the price and value of the non-UK equities, but this also provides you with increased buying and selling opportunities. All your overseas transactions will be carried out using exchange rates based upon the previous nights closing rates.
Generally, once you have bought your shares, there are two ways to hold them: as paper certificates or electronically. For maximum speed and efficiency, IWeb only allows for electronic holdings, providing all customers with individual nominee accounts.
This means that you do not have the onus of keeping your certificates safe and delivering them to your broker in time for the completion of transactions. You remain the real, or beneficial, owner of the shares and you receive the dividends, even though the shares are registered in the name of the nominee.
IWeb provides you with all the information that you need to trade in London, New York, Frankfurt, Paris, Milan, Amsterdam and Brussels.
They provide you with around 1,000 stories from the USA every day, 400 stories from the UK and 400 from each of Europes principle markets. Their European information is supplied by AFX, one of the worlds leading information providers, whilst the US stories come from PR Newswire and Business Wire, via AFX.
IWeb also provide coverage for the respective European markets in their native languages. So there is German language coverage for Frankfurt, Italian for Milan and French for news from Paris.
IWeb provides additional prices and information on specific stocks, stories and issues, through partnerships with leading providers AFX, Innovative Software, MoneyGuru Research , Reuters and Standard & Poor.
Questions to consider if you are opening an online shares trading account
Dealing costs The actual cost of placing an individual buy/sell order. There is stamp duty also at the prevailing rate but only on buys. Allways check that cheap dealing offers dont have high admin charges.
Admin charges Normally charged quarterly. When calculating real cost look at number of deals likely per year and then add in this admin cost.
Transfer costs Check costs to transfer in and out shares, share certificates and other charges must also be considered when evaluating costs.
Online or telephone dealing Nearly all brokers now offer some form of Online dealing with telephone as optional back-up. Some Online systems have some human interface and others are 100% automated.
Holding share certificates Outside of accounts avoids admin charges. Ok if you are likely to be a long term share holder (years not months).
Broker support How much info can the broker offer you? Will he offer advice and recommendations or is his service completely without support.
Broker speciality Information Some will offer Real-time share prices, trades information, news and feedback direct from the trading floor, live market data.
This page has info on IMIWeb stock broking services now known as IWeb - part of Halifax Share Dealing Limited. IWeb is trading name of Halifax plc stockbroking services. Halifax purchased IMIWeb in 2003. HBOS IMIWeb UK share dealing services, originally owned as IMIWeb by one of the largest banks in Europe - Gruppo Sanpaolo IMI