Investing - Share Dealing - Opening an Account
We offer the following types of share dealing accounts:
- The Motley Fool Share Dealing Account
- The Motley Fool ShareBuilder
- The Motley Fool Self-Select Individual Savings Account (ISA)
- The Motley Fool Funds only ISA
- The Motley Fool Share Dealing Self Invested Personal Pension (SIPP)
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A nominee account is an account in which the named holder holds the assets in it on behalf of another (the beneficiary). In the stock market, the most common use of nominee accounts is where execution-only brokers act as nominees for their clients. The shares are registered in the name of the broker, but the client has beneficial ownership of them. The advantage of nominee accounts is that they make settlement quicker and more streamlined.
The Motley Fool Share Dealing Service only offers a nominee account. This means that we hold stock for you electronically in our nominee’s name and are therefore able to deal with any settlement, corporate actions and dividends on your behalf, preventing any delays. If you have any share certificates you can deposit them in your account ready for when you want to trade. Please see the 'Transferring Investments' section for more details.
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CREST is the Central Securities Depository for the U.K., Republic of Ireland, Isle of Man and Jersey equities and UK gilts. It operates an electronic settlement system and was set up in 1996 to replace the Stock Exchange's Talisman system. CREST allows shareholders and bondholders to hold assets in a dematerialised form rather that holding physical share certificates.
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For all our accounts you must be 18 years of age or over and be resident in the UK, Jersey, Guernsey or the Isle of Man or if not resident, is performing duties as a crown employee serving overseas and paid out of the public revenue of the United Kingdom (typically a serving member of the armed forces, or a diplomat) or is married to, or in a civil partnership with, such a person. You can apply for The Motley Fool Share Dealing SIPP on behalf of an applicant under the age of 18. However, as their Legal Guardian you will be responsible for The Motley Fool Share Dealing SIPP until the member reaches age 18.
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It’s easy to apply for a share dealing account with The Motley Fool Share Dealing Service, and once you open your share dealing account, you can be investing and trading online within days.
If you are a new customer and would like to open an account, complete the online registration at www.foolsharedealing.co.uk. Please make sure you have the following details to hand:
- Your debit or switch card, sort code and account number of your bank account.
- Your National Insurance Number.
- Your address details for the last three years.
If we can't verify your identity electronically, we may also need copies of certain documents to satisfy anti-money laundering rules.
We will then send you a temporary password through the post and full instructions on how to complete registration. When you have funded your account you will be ready to trade.
If you are an existing customer you will need to sign in at www.foolsharedealing.co.uk. Select 'Account Management' from the left hand menu then 'Add an Account' from the sub-menu and follow the online instructions.
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Sorry, we do not currently offer the facility for joint accounts.
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You can trade as soon as your account has been activated and you have cleared funds, or stock, in your account.
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There is no minimum deposit or balance that you must maintain, but you must have sufficient cleared funds to place any purchase orders. You can fund The Motley Fool nominee accounts by creating a regular subscription plan. There is a minimum subscription amount of £20 if you use this facility. Please see the 'Regular Subscriptions' section for more details.
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If we hold at least £1 in cash for you in your account, we will pay interest on it. Interest is accrued daily and paid annually. The current rate(s) can be found on our website or by calling us.
Under the HM Revenue & Customs rules we must deduct a flat rate charge, currently 20%, from any interest paid on cash held in an ISA. Please note that you may only hold cash in an ISA that is pending investment within a reasonable timescale.
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Risk Warning
The value of your investments and the income from them can go down as well as up.
You may not get back the full amount you have invested. If you're in any doubt about the suitability of an ISA, SIPP or whether to buy or sell shares, you should consult an appropriate Financial Adviser.
The Motley Fool Share Dealing Service is provided by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England No.3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS. A Member of the London Stock Exchange and an HM Revenue & Customs approved ISA Manager.
The Motley Fool Limited is an Introducer Appointed Representative of Halifax Share Dealing Limited.
