If you’re in the UK and interested in online share dealing, you may have come across IWeb. This platform has been about for close to 15 years and offers a broad range of shares and low fees, but is iWeb share dealing right for you? This review covers everything you need to know about iWeb share dealing, including its features, pros and cons and how it stacks up against the competition. [toc] eToro: Top UK Share Dealing Account Our Rating Free account Social and copy share trading Over 800 stocks to buy with no stamp duty Social trading tools Visit Site 75% of retail investor accounts lose capital when trading CFDs with this provider. What is IWeb? IWeb is a share dealing platform, launched in 2006, that is centered around cost-effectiveness and simplicity in investing. It’s currently operated by Halifax Share Dealing and is part of the Lloyds Banking Group As a share dealing platform, IWeb defines itself by its broad range of shares and low administrative charges. It boasts a simple fee structure that makes the service more affordable than some other share dealing platforms on the UK market. IWeb offers a strong selection of shares, with major UK, US and European shares being well-represented. On top of that, the platform also offers other investment options, which we’ll look into in this review. IWeb Pros and Cons Let’s take a quick look at the pros and cons of share dealing on IWeb: Pros: Low fees Good range of shares Simple platform Market insights Cons: Limited research and trading tools No mobile app Shares Offered IWeb offers a fairly diverse portfolio of tradable instruments. You can find over 1,500 shares and over 500 ETFs traded on major indexes in Europe and the US. Apart from individual shares, IWeb offers you a choice of approximately 2,000 mutual funds to invest in should you choose. IWeb’s selection of share dealing assets can be broken down into: Shares ETFs Investment trusts Funds Bonds IWeb allows you to invest in techMARK and FTSE-listed shares in the UK. American Nasdaq, S&P, and Dow Jones Shares are also available. In continental Europe, French CAC 40, Belgian BEL 20, German Xetra DAX, and Dutch AEX shares are available, so the platform does offer a wide range of the top mainstream shares available in American and European markets. IWeb also offers a range of ETFs, such as HSBC ETFs listed on the FTSE and gold bullion securities. The platform’s ETF selection also includes the top mainstream options from Europe and the US. The selection of investment trusts on IWeb is relatively small at slightly over 200, but you can invest in them just as easily. Investment trusts can be bought and held on IWeb just like shares and ETFs. You can access over 2,000 mutual funds through IWeb, which provides a good range of fund options relative to other similar platforms. Other Assets Right now, IWeb only offers the financial instruments we’ve already gone over. There are currently no public plans to expand the list of available asset types on IWeb. Fees When it comes to your expenses, IWeb offers a straightforward list of fees and commissions. The first expense IWeb charges is a £25 account opening fee. After that, every online trade you make comes with a £5 commission charge. The size of each trade doesn’t have an effect on the commission, which is a nice feature of the platform. Also, while it isn’t a fee, if you’re purchasing with any currency other than the one used by the index you’re purchasing from, you must pay a 1.5% currency conversion charge. For example, if you use your British bank account to purchase a US share, IWeb will charge you an extra 1.5%. Lastly, if you trade over £10,000 on a single investment, you’ll be charged a £1 levy to the PTM. When it comes to fees, IWeb certainly lives up to the image it’s built for itself. The total cost of these fees is low when compared to similar platforms. When you make a large investment, the £5 commission will become more negligible. IWeb offers a slim package that doesn’t cost very much. Special Features IWeb has a few extra tools and educational resources but overall, the platform is lacking in this department compared to the competition. However, you still get access to some extra special features. Markets and insights The most prominent tool on IWeb is the “Markets and Insights” section. Here, you can find live market news and up-to-date information on investments offered on the platform. The information shared can be useful in helping you make educated and informed investment decisions. All in all, the Markets and Insights section provides an adequate, but not excellent view of major indexes and the shares they host. But you should still seek more in-depth information elsewhere to make well thought out decisions. History and overviews You can access account overviews and activity histories upon logging into the site. From the overview, you can quickly see: Current valuations Dealing history Dividends A cash flow overview Account Options IWeb offers three different account options – a share dealing account, a stocks and shares ISA account, and a self-invested person pension account. Let’s take a closer look at each. Shear Dealing This option requires a £25 opening fee and from then on charges £5 per trade. There are no annual administration or inactivity fees. You can invest in iWeb’s broad range of shares and other assets from across seven world markets with no limit and easily transfer from another provider free-of-charge. Stocks and Shares ISA The Stocks and Shares ISA allows you to invest in shares, funds, bonds, gilts, ETFand investment trusts. Like the Share Dealing Account, this account only charges you a £5 commission charge and the £25 sign-up fee. The ISA can hold up to £20,000 in investments. Individual Savings Accounts (ISAs) allow you to invest and save tax-free in the UK. Self-Invested Personal Pension (SIPP) An SIPP with IWeb doesn’t come with the £25 opening fee, but you’ll have to pay a quarterly £22.50 administration fee if your account is valued up to £50,000 and £45 if higher. The investment options for an IWeb SIPP are the exact same as they are for a Stocks and Shares ISA. If you’re trying to save for retirement, the IWeb SIPP is the best account type of the three offered by the platform as it’s a tax-friendly and flexible way to invest. Banking You can deposit funds by transferring them from your nominated bank account using your debit card. Deposits are usually processed immediately. There is a maximum funding limit of £100,000. It may be possible to increase this limit if you contact IWeb’s Customer Services Team. Lastly, you can also deposit by check from a British bank, although deposits made by this method can take a number of working days to process. You can withdraw assets from your IWeb account at any time. The only restriction is you must be able to cover any outstanding charges before you do. There no fees for depositing and withdrawing from your IWeb account. Transferring assets to or from another service provider is easy. Once the other service provider requests the transfer with your permission, IWeb will conduct the transfer. Again, you must first settle any outstanding charges before you may do so. User Experience IWeb goes for a simple, straightforward design, with nothing flashy on show. It’s an easy-use platform; all resources can be accessed by the panel at the top of the IWeb homepage and from your account overview, clear pop-down menus can be used to find any account information you’re looking for. The pages on the IWeb site are small and not incredibly clear, but all the important functions are easy to spot. You should have no problem finding what you need, even if the site doesn’t look amazing. Mobile Trading Unlike some other share dealing platforms, IWeb doesn’t offer a mobile app. However, you can still access your share dealing accounts and conduct transactions from your desktop or smartphone, as IWeb’s website is mobile friendly and scaled down to be used quickly and conveniently on a phone. If you have a strong internet connection, you should have no functional problems trading via your smartphone. However, it’s much easier to comfortably conduct transactions and assess your accounts on a computer. The mobile website is still user-friendly, but it’s not an optimal mobile-friendly solution. Security IWeb Share Dealing accounts are regulated under UK law and the platform is regulated by the Financial Conduct Authority (FCA), which means it meets the high standards set out to ensure your account and funds are secure. Any assets you hold in an IWeb account with them are protected under the Financial Services Compensation Scheme (FSCS). If the company ceases trading or goes out of business for any reason, you are protected and can claim up to £85,000. Any eligible customer can successfully claim compensation. Customer Service IWeb offers good customer service options. You can have a live chat with an employee Monday-Friday from 8am – 9:15pm. On Saturdays, live chats are available from 9am – 1pm. If you don’t think you need to chat on the phone with customer service, you can contact them via email or on Twitter. In either case, you can expect patience and professionalism from their customer service. Supported Countries & Regions IWeb share dealing is currently available in: Belgium France Germany Italy Netherlands UK USA IWeb vs Other Share Dealing Platforms In comparison to other platforms, IWeb offers a decent, if unspectacular platform. It offers a decent range of shares, low fees and provides a simple interface with good customer support. However, when you compare it to a platform like the one from our eToro review, it becomes clear that there are many areas in which IWeb could improve. For example, while it offers low fees in comparison to some other platforms, eToro has no account opening fee and no commission or stamp duty on share dealing. All you need to pay is the spread, overnight fees and a flat $5 withdrawal charge. eToro also offers the users the chance to buy shares and trade CFDs across over 800 shares, as well as buying them outright. This means you can go short and speculate on prices going down, and you can also trade with leverage, meaning you can borrow capital to make larger trades. As a social trading platform, eToro offers a range of innovative tools, such as the CopyTrader feature. This allows you to instantly copy the portfolio and future traders of any of the 12 million investors on the platform! Furthermore, eToro offers a wide range of payment methods, including PayPal, a $100,000 demo account and a mobile app, in addition to a wide range of other financial assets, including forex and crypto. So while IWeb isn’t a bad platform, but it doesn’t come close to eToro. Conclusion Overall, IWeb offers a simple and affordable way to invest in a decent range of shares, spanning both the UK market and several overseas stock exchanges. It’s an inoffensive platform which does a lot right, but also is some way off the top share dealing providers off the market. If you’re looking for a premier online share dealing experience, we recommend trying eToro. This platform offers over 800 shares to buy or trade as CFDs, 0% commissioning social trading tools, so it ticks just about every box. eToro: Top UK Share Dealing Account Our Rating Free account Social and copy share trading Over 800 stocks to buy with no stamp duty Social trading tools Visit Site 75% of retail investor accounts lose capital when trading CFDs with this provider. FAQs How do I start share dealing on IWeb? You can get started on IWeb by simply creating an account and finding the shares you want to invest in. If you're new to share dealing, we advise you to learn more about the topic before you get started on IWeb. Is IWeb safe? Yes. IWeb is FCA-regulated and will protect your personal and payment information. Your transactions with them will be priced at the time you confirmed each transaction. However, share dealing itself carries risk and there is always the potential to lose money. So, invest your time into learning how to be the best share dealer you can be. How long does it take to create an account? The sign-up process on IWeb is long, but not difficult. You will need to provide a lot of information. It might take up to an hour to fill in the sign-up forms. Does IWeb offer telephone share dealing? No. You can only trade shares via the platform's online interfaces. Phone orders are not available right now. Can I transfer my IWeb portfolio to another broker? Yes. You can easily transfer your shares portfolio to and from IWeb to another broker, such as eToro.