Merrill Lynch HSBC has reduced its telephone trading charges level with the costs for dealing o...
Merrill Lynch HSBC has reduced its telephone trading charges level with the costs for dealing online. The group is also starting a free share 'transfers-in' offer for clients transferring shares to their Merrill Lynch HSBC Investment and Banking Portfolio (IBP), which was launched last May.
Merrill HSBC clients will now be charged a flat fee of £19.95 per trade for transactions of any size, either online or by telephone. The 'transfers-in' offer gives clients wishing to trial the Merrill Lynch HSBC IBP the opportunity to reclaim up to £100 in value for any share penalties charged by the client's incumbent broker.
Victor Dodig, managing director of Merrill Lynch HSBC UK, commented: "Whilst the trend towards investors trading online continues we recognise that there remain a large portion of investors that still want to trade over the telephone."
Dodig added: "Further, we realised some investors are still being penalised for wanting to change services - sometimes as a result of receiving a poor service. We expect our service to speak for itself and impose no exit charges, confident in the belief that investors will find our service proposition attractive."
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