Before you start

Article Abstract:

Option dealing is offered by the majority of stockbrokers in the UK. Charges vary according to the level of service required, with execution-only services working out cheaper. Brokers should employ staff with authority from the SFA which means that they will have the relevant qualifications on derivatives. There area number of sources of information such as newsletters, telephone services, and books explaining the subject, in addition to software packages geared to investors in options.

Financial Transactions Processing, Reserve, and Clearinghouse Activities, Security & commodity services, not elsewhere classified, Options Clearing, Economic aspects, Options (Finance), Options clearinghouses

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Covering all bases

Article Abstract:

The UK Securities and Futures Authority (SFA) regulates the majority of UK brokers dealing with private clients and has taken action against Sobhag Stockbrokers. The company has been told to stop holding assets of clients. Investors are protected by the SFA and by insurance held by brokers such as professional indemnity cover, insolvency cover and cover for direct financial loss. Internal controls have improved with aid from compliance officers and enhanced professionalism.

Laws, regulations and rules, Securities industry

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Pay as you earn

Article Abstract:

UK stockbrokers and portfolio managers levy a range of charges including compliance charges, nominee fees, management fees and commission scales. The variety of charges means that comparisons are not easy. Cost should not be the main consideration when selecting a broker but there can be major savings for investors dealing regularly who compare prices in the market. Good investment performance and service are important though investors should ensure that they are provided.

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