Rates & Charges
Brokerage Services (UK & International trades)
Our simple, highly competitive charging rates makes trading more straightforward.
Our Standard and Frequent Trader Commission Rates for UK and International trades for both (online and by telephone) are shown below.
Notes: These commission rates apply to standard transactions and may change. You should confirm the current rate at the time of dealing and read the terms for all standard transactions as set out in our Customer Terms of Service. All charges in this rate card are shown exclusive of VAT and VAT will be charged at the prevailing rate where applicable. International Commissions are charged in the customer settlement currency and multiplied by the conversion rate (if applicable) subject to the minimum and maximum charges shown. §The flat commission rates above apply to trades up to a value of £100,000. Above this, special charging then applies (trades £100,000 to £499,999 = £32.00; trades £500,000 to £999,999 = £60.00; trades above £1million subject to negotiation).
Certificated Trades - an additional £25 is payable on all Certificated Trades.
Frequent Trader Commission Rates
Frequent Trader Commission Rates work on a rolling monthly cycle, based on the number of trades executed in the preceding 3 calendar months. If you complete 10 or more eligible trades in the preceding qualifying 3 month period you will qualify for our Frequent Trader Commission Rates, from the start of the next month.*
Account Management Fee £10 + VAT per quarter will be charged on all inactive accounts.
This fee will be calculated on inactive TD Waterhouse Trading and Trading Plus Accounts, in arrears, on the last full weekend of March, June, September and December ("Quarter Dates"). An inactive TD Waterhouse Trading Account is defined as an account that, at the close of business on the relevant Quarter Date, has had no trades executed on it since the previous Quarter Date, and has a cash and / or portfolio valuation of £5,000 or less. Portfolio valuation will be based on the closing mid price on the Quarter Date. The Account Management fee does not apply to Certificated Accounts, Trading ISAs, Regular Investment Accounts, Regular Investment ISAs or SIPPs.
* An ISA or Trading Account is required to qualify for online and Frequent Trader Commission Rates. A SIPP or Trading Plus Account is required to qualify for online, Frequent Trader and International commission rates. Frequent Trader Commission Rates apply to each individual account separately. Trades cannot be aggregated across accounts. Trades that are not eligible include - Certificated, Unit Trust, OEICs, New Issue, cancelled or deleted trades, zero commission and promotional discounted rate trades.
TD Waterhouse ProTrader® Subscription Rates
TD Waterhouse ProTrader® is an optional service offering Live streaming Level 2 pricing. Access to the TD Waterhouse. ProTrader® service will be charged to customers quarterly in advance, based on the schedule shown below:
| Band | Trader in Previous Qtr | Charge for Subsequent Qtr |
|---|---|---|
| Band 3 | 75+ | FREE |
| Band 2 | 26 to 74 | £50 |
| Band 3 | Up to 25 | £200 |
The Charging Period will be from the 1st day to the last day of each calendar quarter. Charges will be levied against accounts within 5 working days of the quarter commencing.
Brokerage / Banking Services
Nominee Facility
| Charge Details | Charge |
|---|---|
| Administration | Nil |
| Transfers in of stock | FREE |
| Transfers out of stock | £20 per holding |
Fund Supermarket
| Charge Details | Charge |
|---|---|
| Dealing Commission Rates | Nil |
| Initial Sales Charges on funds | 0% to 2.25% max |
Foreign Exchange (FX)
The foreign exchange rate for all currency conversion is based on the bid/offer exchange rate to which TD Waterhouse apply a spread based on up to +/- 1.5%, applied at the time of contracting. Details available on request.
Regular Investment Account
| Commission | Minimum Subscription | ||
|---|---|---|---|
| Buy | Sell | ||
| FTSE 350 | £1.50 | Standard commission rate | £25/stock |
| ETFs | £1.50 | Standard commission rate | £25/fund |
| Funds | £0* | Nil | £50/fund |
There is no Account Management Fee on the Regular Investment Account
* Funds do not incur commission charges, but may have an initial fee charged by the fund manager.
Purchases can only be made on the first and third Wednesdays of each month, subject to change, please visit tdwaterhouse.co.uk for up to date details.
Cash Management Services Account
| Balance On Deposit | Gross Rate* | Net Rate** | AER*** |
|---|---|---|---|
| Sterling balances & Foreign Currency balances (USD, CAD, EUR, AUD, HKD & S$†) | 0.10% | 0.08% | 0.10% |
* Gross rate is the contractual rate before the deduction of income tax at the rate specified by law.
** Net rate is the amount of interest which would be payable after the deduction of income tax specified by law.
*** AER stands for Annual Equivalent Rate (contractual rate when paid and compounded each year). The AER as stated is calculated at 08/01/09.
† Please note that AUD, HKD & S$ will only be available from December 2008.
Savings Account: Gross Interest Rates
| Balance On Deposit | Interest Rate |
|---|---|
| All balances | Bank of England Base Rate minus 0.75% |
Any credit interest will be calculated on your cleared credit balance on a daily basis and will be credited to your account quarterly on or around the 25th day of March, June, September and December. Such interest will be paid net or gross as set out in our Customer Terms of Service. "Gross" means the rate that will be paid to customers without the deduction of income tax. If paid gross, any tax payments due on this interest will be your responsibility. Any debit interest will be calculated on the debit balance in your account on a daily basis and will be debited from your account on a quarterly basis.
Tax Efficient Accounts: ISA
Tax Efficient Accounts: ISA
The tax treatment of these products depends on the individual circumstances of each customer and may be subject to change in the future.
Administration Fee
| Account Value | Yearly Administration |
|---|---|
| Over £3,600 | FREE |
| Up to £3,599.99 | £30 + VAT |
Interest Rates
| Uninvested Cash Balance | Gross Rate* | AER*** |
|---|---|---|
| All balances | 0.10% | 0.10% |
Note: The Administration Fee will be charged once a year on or around the first business day in June, calculated on the account value on the last business day in May. Interest will be calculated on your credit balance on a daily basis and credited to your Plan on the 25th day of May and November in any one year. This also applies to the Regular Investment ISA.
* Gross rate is the contractual rate before the deduction of income tax at the rate specified by law.
*** AER stands for Annual Equivalent Rate (contractual rate when paid and compounded each year). The AER as stated is calculated at 22.09.08.
Regular Investment ISA
| Commission | Minimum Subscription | ||
|---|---|---|---|
| Buy | Sell | ||
| FTSE 350 | £1.50 | Standard commission rate | £25/stock |
| ETFs | £1.50 | Standard commission rate | £25/fund |
| Funds | £0* | Nil | £50/fund |
* Funds do not incur commission charges, but may have an initial fee charged by the fund manager.
Purchases can only be made on the first and third Wednesdays of each month, subject to change, please visit tdwaterhouse.co.uk for up to date details.
The Administration Fee will not be charged on the Regular Investment ISA.
Other Charges
| Charge Details | Value |
|---|---|
| Plan Transfer In | FREE |
| Cash Withdrawal | FREE |
| Stock Withdrawal | £20 per holding |
| Plan/Account Closure or Transfer out | £50 + VAT + the relevant administration fee. |
Tax Efficient Accounts: SIPPs
The tax treatment of these products depends on the individual circumstances of each customer and may be subject to change in the future.
| Charge Details | Value |
|---|---|
| Initial Set Up Charge | £80 (no VAT) currently waived |
| Administration Charge | 0.25% of the value of the SIPP twice per year on the first business day in June and December. Subject to a minimum of £40 and a maximum of £100 per collection (no VAT) |
| Pension Transfer in Charge | £80 per plan (for the first five plans) (no VAT) |
| Plan Transfer Out Fee | £80 (no VAT) |
| Transfer In of Stock | FREE |
| Transfer Out of Stock | £20 per holding |
| Income Withdrawal † | £146 per annum, applicable on request between the ages of 50 and 75. Additional Drawdown Tranches, £68 per annum |
| Interest on Sterling Cash Balances | Bank of England Base Rate minus 1.00% |
| Interest on Foreign Currency Balances (USD, CAD, Euro, AUD, HKD & S$)†† |
0.10% AER*** (0.10% gross*) |
| Ad hoc income payment fee | £63 |
† All charges will be increased from the 6th April each year by national average earnings over the twelve months ending the previous October.
†† Please note that AUD, HKD & S$ will only be available from December 2008.
Interest will be calculated on your credit balance on a daily basis and credited to your account on or around the 25th day of May and November in any one year.
SIPP Minimum Investment Amounts
| Payment Type | Amount |
|---|---|
| Regular Contributions | £50 gross monthly (cheque) |
| Single Contributions | £500 gross |
| Transfer of existing Pension Plans | £1,000 |
CFDs Trading Service
Commission and Charges Tariff
The commission and charges you will pay for the TD Waterhouse CFDs Trading Service vary according to the exchange where the shares are quoted, whether you have a guaranteed stop loss and whether you are trading long (for price rise) or trading short (for price fall). The table below gives full details.
Equity CFDs
| Instrument | Commission Fee | Minimum Commission | Initial Margin From | Funding Interest Long Position | Funding Interest Short Position | Guaranteed Stop Loss Premium |
|---|---|---|---|---|---|---|
| UK Shares | 0.20% | £20 | 10% | LIBOR +2.5% | LIBOR -3% | 0.25% |
| US Shares | 0.30% | $30 | 10% | LIBOR +2.5% | LIBOR -3% | 0.25% |
| Euro Shares | 0.30% | €30 | 10% | LIBOR +2.5% | LIBOR -3% | 0.25% |
Index CFDs
| Instrument | Commis- sion Fee (Flat Fee) | TD Waterhouse CFD Spread (Points) | Initial Margin From | Funding Interest Long Position | Funding Interest Short Position | Guaranteed Stop Loss Premium |
|---|---|---|---|---|---|---|
| FTSE 100 | £20 | 6 | 5.0% | LIBOR +2.5% | LIBOR -3% | 3 (Index points) |
| Wall Street | $30 | 8 | 5.0% | LIBOR +2.5% | LIBOR -3% | 4 (Index points) |
| S&P 500 | $30 | 0.8 | 5.0% | LIBOR +2.5% | LIBOR -3% | 0.4 (Index points) |
| NASDQ 100 | $30 | 4 | 7.5% | LIBOR +2.5% | LIBOR -3% | N/A |
| DAX 30 | €30 | 6 | 7.5% | LIBOR +2.5% | LIBOR -3% | N/A |
| CAC 40 | €30 | 8 | 7.5% | LIBOR +2.5% | LIBOR -3% | N/A |
| Swiss Market | SFR40 | 12 | 7.5% | LIBOR +2.5% | LIBOR -3% | N/A |
| IBEX 35 | €30 | 14 | 7.5% | LIBOR +2.5% | LIBOR -3% | N/A |
| MIB 30 | €30 | 40 | 7.5% | LIBOR +2.5% | LIBOR -3% | N/A |
| Euro Stoxx 50 | €30 | 6 | 7.5% | LIBOR +2.5% | LIBOR -3% | N/A |
| Hang Seng | HK$250 | 20 | 7.5% | LIBOR +2.5% | LIBOR -3% | N/A |
| Nikkei | ¥3765 | 20 | 7.5% | LIBOR +2.5% | LIBOR -3% | N/A |
| Gold | $30 | $1 | 7.5% | LIBOR +2.5% | LIBOR -3% | 30 cents on the price |
Notes:
- For commission rates and charges relating to instruments not mentioned above please contact TD Waterhouse CFDs for further information.
- TD Waterhouse CFDs Equity CFDs are available on UK, US and European equities as follows:
- UK Equities: FTSE 350 and equities whose market capitalisation is greater than £50 Million.
- US Equities: Quoted on NYSE and NASDAQ (normally market capitalisation greater than US$500 Million).
- European Equities: Quoted on the major exchanges (normally market capitalisation greater than €500 Million.
- Interest will be based on overnight LIBOR (11am British Bankers Association London Fixing) for each currency.
- 'Funding Interest' can also be referred to as the TD Waterhouse CFDs financial spread.
- Guaranteed Stop Losses are only available at TD Waterhouse CFDs absolute discretion.
- In the case where there is no LIBOR rate available TD Waterhouse CFDs will use an alternative rate.
- For full details of the TD Waterhouse CFDs Trading Service please refer to the TD Waterhouse CFDs Terms of Service.
- These commissions and charges as at 26 January 2004 are subject to variation in accordance with the TD Waterhouse CFDs Terms of Service. Please contact TD Waterhouse CFDs if you wish to confirm these charges.
- TD Waterhouse CFDs is a trading name of City Index Limited which is authorised and regulated by the Financial Services Authority.
Financial Spread Betting
We do not charge a separate commission for Financial Spread Betting, the cost of the service is built into the spread that we offer depending on the product purchased. For full details please see our Financial Spread Betting Market Information Sheets.
Administration and Other Charges
Brokerage Services
| Government Charges | |
|---|---|
| Stamp Duty (UK Registered stocks purchases only) † | 0.5% of transaction value |
| Stamp Duty (Irish Registered stocks purchases only) | 1% of transaction value |
| Panel on Takeovers and Mergers (PTM) Levy - UK | Flat charge of £1 on all transactions over £10,000 |
| Hong Kong - Equity & Company Warrants. All transactions subject to: | Transaction Levy of 0.004%, Trading Fee of 0.005% and Stamp Duty of 0.1% |
| Singapore - all transactions subject to: - Structured Warrants |
A Clearing Fee of 0.04% subject to a cap of S$600 A Clearing Fee of 0.05% subject to a cap of S$200 |
| France (French Residents Only) | 30 bps for trades up to €153,000, 15 bps for trades over €153,000. Less allowance of €23 to max €610 |
| Other Charges | |
| Late Payment | £25 + Bank of England Base Rate plus 15% on the full amount |
| Sell Out Administration Fee due to non-payment | £40 ↑ |
| Buy Back Administration Fee due to non-delivery of stock | £40 ↑ |
| Certificated CREST Rejection Fee | £15 |
| Request for Replacement Share Certificate | £35 + VAT and any other charges levied by third parties |
| Registration of Legal Documents (Estates) | £35 + VAT |
| Portfolio valuations (probate/other purposes) - minimum |
£10 + VAT per line of stock £50 + VAT |
| Re-registration of Eurasian Securities - stocks listed on European (not including the LSE), Hong Kong or Singapore Exchanges | £35 + VAT |
| Fractional entitlements arising from a Corporate Action | up to £5 |
| Duplicate Documents (including Consolidated Tax Certificate, Corporate Action Notification, Contract Note) | £10 + VAT |
† Non CREST eligible and CREST eligible residual stocks are subject to a minimum charge of £5.00, rounded up to the nearest £5.00.
↑ Commission charges will apply in addition to the Sell Out and Buy Back Execution fees.
Banking Services (all accounts)
| Transaction | Fee |
|---|---|
| Telegraphic Transfer (CHAPS) | £25 |
| Unpaid Direct Debits | £25 |
| Copies of Cancelled Cheques | Nil |
| Unauthorised Overdrafts | £25+ Bank of England Base Rate plus 15% on the full amount |
| Returned Cheque for Insufficient Funds | £25 |
| Stop Payments on Cheques, Standing Orders and Direct Debits | £10 |
| Internal Transfers | Nil |
Brokerage and Banking Services (all accounts)
| Transaction | Fee |
|---|---|
| Closure of an account | up to £5 |
| Post termination of your account dealing with money/investments received into your closed Account | up to £5 |
| Unpaid Cheque | £25 |
| Duplicate Statements (per statement) | £10 + VAT |
Banking Service (all acounts)
| Transaction | Fee |
|---|---|
| Telegraphic Transfer (CHAPS) | £25 |
| Unpaid Direct Debits | £25 |
| Copies of Cancelled Cheques | Nil |
| Unauthorised Overdrafts | £25+ Bank of England Base Rate plus 15% on the full amount |
| Returned Cheque for Insufficient Funds | £25 |
| Stop Payments on Cheques, Standing Orders and Direct Debits | £10 |
| Internal Transfers | Nil |
Brokerage and Banking Services (all accounts)
| Transaction | Fee |
|---|---|
| Closure of an account | up to £5 |
| Post termination of your account dealing with money/investments received into your closed Account | up to £5 |
| Unpaid Cheque | £25 |
| Duplicate Statements (per statement) | £10 + VAT |
† Non-CREST Non-CREST eligible and CREST eligible residual stocks are subject to a minimum charge of £5.00, rounded up to the nearest £5.00.
Note: These commission rates apply to standard transactions and may change. You should confirm the current rate at the time of dealing and read the terms for all standard transactions as set out in our Customer Terms of Service.
↑ Commission Charges will apply in addition to the Sell Out and Buy Back Execution fees.
All charges in this rate card are shown exclusive of VAT and VAT will be charged at the prevailing rate where applicable.
Additional Information
New Account Helpline
To request a duplicate application pack, for further information on our services or help with completing the application form please call: 0800 531 6696.
Electronic Brokerage Services (trading via the web)
For more information on how to activate any of your TD Waterhouse accounts for online access, or for any assistance with our online trading service please call: 0800 531 6696.
Correspondence Address
Please send any correspondence to the following address:
TD Waterhouse
Exchange Court
Duncombe Street
Leeds
LS1 4AX
United Kingdom
