What are the main variable costs?

There are certain variable costs associated with transacting and trading, although these simply serve to cover the costs that we ourselves take on when facilitating transactions:

Item Cost
Direct Debit (per DD) £0.50
Instrument charge (per year, per instrument) £36.50 (i.e. 100 lines of stock = £3,650)
Fund transactions No cost
UK ETF & shares (bulk traded at end of day) 4 bps per trade (minimum of £4)
Transfers (per line, per wrapper) £1    

There are also costs for using the third-party SIPP (provided by Gaudi). Again, these will be passed on at cost:

Account Max cost
Accumulation £50 + VAT
Decumulation £125 + VAT (plus accumulation; ie. £175 + VAT)

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