Clubfinance introduces flat annual rate for execution-only platform

The Frequent Trader platform's tiered structure, which ranges from 0.35% down to nothing on sums above £1m, will be replaced with the new flat rate on 1 April 2014. A minimum quarterly charge of £30 will apply meaning that accounts with £50,000 or more will incur the 0.24% charge, while accounts with less than this will pay £120 per year. Investors are not charged for fund switching but will incur an increased share dealing charge of £2.50 per trade from April. The broker said the new trading charge, which will go up from 50p per trade, will allow for the adjustments to the annual ...