TD Waterhouse

Select from Trading, Trading Plus and ProTrader accounts. The Trading Account hosts dealing in Crest-settled UK shares, unit trusts/oeics and ETFs; gilts and corporate bonds; On Trading Plus and ProTrader you can deal in warrants, covered warrants, US and European IRS shares and in NYSE, Nasdaq and Canadian Ventures Exchange stocks.

Dealing on Trading and Trading Plus is at real-time snapshot quotes (with price improvement) and at limit (fill-or-kill, good for day, good for up to 90 days) or stop loss. ProTrader dealing is at best (live, streaming Level 2 prices) or at limit.

Dealing charges on Trading and Trading Plus are £12.50 per trade. Deal 7+ times in three consecutive months and the commission falls to £11.95 for the next month. There is a quarterly charge of £10 + VAT for zero trades in conjunction with a portfolio (including cash) of under £5k. ProTrader dealing is at a flat account fee based on quarterly trading activity (£50 to £200 p.q.). The less activity, the higher the charge. Certificated shares are dealt at the standard rate plus £10.

The full complement of tax shelters is available. ISAs and PEPs are administered for £30 p.a. + VAT on up to £7,000.99 and at £60 p.a. + VAT for larger accumulations. The SIPP costs 0.25% of the fund value per half year (£50 to £250 per collection).

Trading/Trading Plus research includes interactive charting and company information. ProTraders get live, streaming news, price quotes and alerts. Navigation is very smooth with a range of research and trading icons adjacent to the share name.