Please note that Barclays Stockbrokers Online Share Dealing Account has been discontinued and is no longer available. You can read our old review of Barclays Stockbrokers Online Share Dealing Account below, or check out the rest of the UK Online Trading Websites we've reviewed.
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Barclays Stockbrokers Online provides a unique platform for investors. You can link your trading accounts to your Barclays ISAs, providing a quick and simple means of funding, whilst utilising the BARXdirect Platform to trade with ease. It primarily focusses on stocks and shares portfolios, developed by expert investors, but you can also decide on what to invest for yourself, with more than 2,000 products available. As the site points out, it is important to seek support if you’re not sure whether you can afford to invest online, since money can be lost as well as gained.
It’s unusual for online trading services to provide their own, unique platform as Barclays do.
Let’s begin with a brief examination of the BARXdirect Platform, because it’s unusual for online trading services to provide their own, unique platform as Barclays do. Most sites offer MetaTrader or another generic trading system, so this is something a bit different. We found this to be a simple system to use, particularly as there are multiple levels to explore. As you develop and become interested in different investment opportunities, you can “level up” and open up new markets such as data from the London Stock Exchange. This makes it a very useful system if you’re just starting out with online trading.
The platform allows you to view a range of useful information from a single screen, so you can easily identify trends or movements. Investments are quick, particularly if you’ve set up the system to draw money from your ISA, although they have a fee per investment, starting at around £6. This means that you should carefully consider how much money you’re investing, because there’s a minimum charge which could ultimately mean that small investments aren’t worthwhile. This leads us to the feeling that Barclays Stockbrokers Online is probably better suited to portfolio investments with a decent capital investment. For example, if you only want to invest £30 into a trade, you’ll be charged at least £5.95, so the chances of seeing a profitable return are reduced.
Expert advice from professional traders.
We were pleased to see a number of educational features, as well as expert advice from professional traders. This all helps to improve your understanding of the markets, the potential benefits and risks. A real advantage on Barclays is that (as their site states) 91% of their investments (over a select period) proved more lucrative than prices stated on the London Stock Exchange. So, they’re doing something right.
You can invest in Stocks and Shares, or ETFs using BarclaysStockbrokersOnline, so let’s consider those two key markets:
Stocks and Shares
Invest in stocks and shares, with thousands of options to choose from. You can also invest in portfolios developed by expert investors, or simply follow their advice and make your own decisions. The Barclays Stockbrokers Price Improver works with their market makers to find the best prices available, so you won’t be paying over the odds.
Trade shares with flexible, global markets, including assets which are normally more difficult to access. You can create a balanced portfolio with indices including FTSE 100 and DAX. The website highlights all the key potential risks and benefits of your investments, as well as providing information on the leverage rates, tax and more.
We feel that Barclays Stockbrokers Online is best suited to anyone who is new to online investment. It offers a focussed range of investment opportunities, whilst providing enough diversity within those markets to keep you interested. The trading platform is specially designed for helping you to improve and progress as you better understand trading. That said, it’s a relatively expensive service if you’re only making a few small investments, so that should be considered when deciding on which products or portfolios to invest in, and how much you can afford to invest.
Please note that Barclays Stockbrokers Online Share Dealing Account has now been discontinued.