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IG Share Dealing ISAs

Review of the IG Share Dealing ISA Account

Investment ISAs put your capital at risk & you may get back less than you originally invested

Share Dealing ISA

from IG

Allows ISA Transfers
  • Trade From (frequent trader rate): £3.00
  • Trade From (standard trader rate): £8.00

Share Dealing ISA

from Fineco

Allows ISA Transfers
  • Trade From (frequent trader rate): £2.95
  • Trade From (standard trader rate): £2.95

Share Dealing ISA

from AJ Bell

Allows ISA Transfers
  • Trade From (frequent trader rate): £4.95
  • Trade From (standard trader rate): £9.95

Share Dealing ISA

from Hargreaves Lansdown

Allows ISA Transfers
  • Trade From (frequent trader rate): £5.95 per trade - 20 trades + pm
  • Trade From (standard trader rate): £11.95 per trade

Share Dealing ISA

from Interactive Investor

Allows ISA Transfers
  • Trade From (frequent trader rate): £7.99 (Investor Plan: Flat fee of £9.99pm with one free trade)

Investment ISA

from Barclays Smart Investor

Allows ISA Transfers
Regular Savings
  • Fund Choice: Invest in shares, funds, investment trusts, exchange traded funds. 5 Ready made portfolios if you are not sure where to invest. Capital at risk.
  • Invest From: £1 pm

Why an IG Share Dealing ISA?

IG is a share dealing company founded in 1974. They provide a dealing platform and a range of investment accounts in which to buy and sell shares.

They're an award-winning FTSE 250 company, and are fully authorised and regulated by the FCA.

An IG Share Dealing ISA is one of their investment accounts that allows you to buy and sell stocks and shares within the tax wrapper of an ISA.

What is a Share Dealing ISA?

An ISA is an investment account that protects your investments from the following taxes:

  1. Income tax (including dividend tax and interest tax)
  2. Capital Gains Tax (tax on the growth of your investments)

By holding your stocks and shares in an IG Share Dealing ISA you are completely protected from being taxed on your trading profits.

If a share you buy goes up in value, you don’t have to pay capital gains tax when you sell it like you normally would with a standard trading account.

Additionally, if the stocks you hold pay dividends, you're usually required to pay dividend tax on these which can reach a rate of 45% for high earners. In an IG Share Dealing ISA, you don’t have to pay this tax or even declare the income on your tax return.

What do you invest in with an IG Share Dealing ISA?

IG Share Dealing ISAs are self-select ISAs, meaning that you pick the shares you want yourself.

There are over 12,000 shares, ETFs, ETCs and Investment Trusts available through the IG Share Dealing ISA platform.

Shares

Shares represent a holding in a publicly-traded company. The shares you own go up and down in value based on the valuation of that company.

Most companies pay dividends to shareholders, and the more shares you own in a company, the higher your dividends will be. You can check the historic and projected dividend yields for a company before you invest in them.

Advantages:

  • Your investment can grow significantly over short periods
  • You can withdraw or reinvest the dividends
  • You can trade them regularly to try and catch market surges

Disadvantages:

  • Your investment has the potential to fall significantly over short periods
  • Your investment risk is not well diversified across multiple companies

ETFs and ETCs

ETFs (Exchange Traded Funds) are funds traded on a live stock exchange like shares, but they track a specific sector or market index, like the FTSE 100, for example.

Most ETFs track an index by investing proportionately in the underlying companies within that index. This means that when the index performs well, the ETF mirrors this performance and equally raises in value.

ETCs (Exchange Traded commodities) track a commodity instead of an index, like gold, coffee or oil.

Advantages:

  • Your investment is diversified across many companies in one index
  • ETF fund charges are very low compared to other types of managed funds, like Investment Trusts

Disadvantages:

  • You don’t get the expertise of a fund manager who picks their preferred stocks within the sector

Investment Trusts

Investment Trusts are investment companies that invest in a specific sector and market and aim to outperform the benchmark performance of that market through expert fund management.

Advantages:

  • Your investment is diversified across multiple companies in the sector
  • You benefit from the expertise of a fund manager making daily investment decisions

Disadvantages:

  • Higher ongoing fund charges compared to ETFs

Does an IG Share Dealing ISA cost money?

IG charges dealing fees, custody fees and other administration fees against your Share Dealing ISA portfolio.

The ISA account fees are structured so that the more trades you make, the less you pay in fees.

Dealing Fees:

  • If you’ve made 0 to 2 trades in the previous month, you pay £10 for US shares and £8 for UK shares for online dealing.
  • If you’ve made 3+ trades in the previous month, you pay £0 for US shares and £3 for UK shares for online dealing.
  • You always pay 0.1% commission on European or Australian shares.
  • If you trade over the phone, it gets more expensive at £40 for UK trades and £50 for all other shares.

Foreign exchange fees:

  • In an IG Share Dealing ISA, you always pay a fixed foreign exchange fee of 0.5%. This is added to the exchange rate which will be the best rate available to the stockbrokers.

Custody Fee:

  • You are also charged £24 per quarter for holding investments in an IG Share Dealing ISA.
  • This is reduced to £0 if you have completed 3 or more trades in the previous quarter.

How do I open an IG Share Dealing Account?

  • You can open an IG Share Dealing Account online in minutes.
  • You’ll need to enter some basic personal information and complete some ID verification checks, and then you can begin investing.
  • You can add money to your account with a debit card payment online, and then use those funds to purchase shares, ETFs or Investment Trusts.

FAQs

How much can I invest in a Share Dealing ISA?

You can invest £20,000 in the current tax year.

Do I pay tax when withdrawing from an ISA?

No, you never pay any tax when withdrawing from an ISA.

How long does it take to withdraw from a Share Dealing ISA?

You just need to sell your investments and place your withdrawal, which usually goes through within 5 working days.

Can I lose money in a Share Dealing ISA?

Yes, your investments can fall as well as rise in value, and so you could get back less than you put in.

How do I top up my ISA?

The easiest way to top up your account is online via a debit card payment.

Can I transfer my ISA into a Share Dealing ISA?

Yes, you can transfer any of your current ISAs into a Share Dealing ISA by completing an ISA transfer form with your new provider.

Does my ISA allowance roll over each year?

Your ISA allowance does not roll over from year to year, so if you don’t use it, you lose it.

Is IG protected by the FSCS?

Yes, IG is covered by the Financial Services Compensation Scheme for up to £85,000. They are also regulated by the FCA.

Do professional traders use IG?

IG do offer a professional trading account for professional investors, but the Share Dealing ISA is not a professional investor account. 

Oliver Roylance-Smith
Edited by Oliver Roylance-Smith - ISA.co.uk

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Important Risk Information:

The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website aims to provide information to help you make your own informed decisions. It does not provide personal advice based on your circumstances. If you are unsure of how suitable an investment is for you, please seek personal advice.

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