Thanks for your reply, I agree it's annoying that ISA's are not allowed to hold foreign currencies with the increased costs which this involves. But I hope the profits from PM miners will more than make up for these expenses in the long run.
I do not trade CFD / Spread Betting I'm not confident enough to trade in these.|
I suppose it all depends on one's portfolio.
Within an ISA all overseas holdings will be automatically converted to & from overseas currencies due to the ISA rules. Therefore the relevant costs are trading commission (usually insignificant for online brokers), FX conversion costs (anywhere from 0.3% to 1.5% each way) and periodic account fees (zero upwards). Clearly life is much more simple if all holdings are in GBP.
The same costs may be applicable with a non-ISA account but if one is interested in overseas markets it is essential, IMO, to ensure the broker offers the option to hold overseas currencies rather than being forced to constantly suffer the expensive FX conversion costs.
Although I have yet to fully migrate to IG I have been impressed by their customer service. Their trading platforms seem pretty sophisticated (dare I say complicated compared to the competition!). The only downside that I can see at present (presumably due to IG's spread-betting / CFD origins) is the absence of a fund / unit trust / OEIC option which will probably mean maintaining a secondary account elsewhere.
There are only a limited number of online brokers offering ASX market access.
One other possibility could be Beaufort Securities but their associations with HB Markets / Hoodless Brennan might make one think twice. I would be interested to know if anyone else here has any current thoughts on Beaufort Securities.|
I can understand your reservations but hopefully as this would only be a transfer of all my Shares to another to another Broker, and not a delisting of UK Shares and transferring them to a foreign exchange, it should hopefully be a much simpler procedure. But staying with Interactive Investor I feel is not an option as I have always viewed them as a very poor company. May be this is a misconception on my part.
Thanks for suggesting IG I will check them out. I have read an article by Money Week
Which states that in their opinion iDealing.com or Sippdeal.co.uk (now AJ Bell) offer the best ISA accounts especially for trading US and Canadian Markets.|
|p.s. I should add that IG do not offer an option to invest in funds although they do have some ETFs / ETCs.|
I have looked into this and propose to move all my accounts (trading, ISA & SIPP) to IG. Charges & FX rates are competitive. They appear to have decent customer service, multiple trading platforms and offer good overseas markets / currencies choices.
I checked yesterday and they are able to hold MML.
Of course they also offer spread betting and CFDs. As far as financial stability goes they seem OK - FTSE 250, no debt, fully regulated etc.
|Annual Report 2016 released on ASX.|
after the nightmare of transferring out of Selftrade to TD Direct I won't be rushing into anything.
I believe a number of MML holders have ISA accounts with TD Direct Investing, it has now been confirmed that TD Direct are selling their UK accounts to Interactive Investors. This I am not to happy with. Therefore could any TD Direct customers recommend any alternative Brokers which offer good service at reasonable costs. Even more importantly would be the solvency of the Broker/Bank holding our Shares and Cash. So I would be grateful for the opinions of others in the same position as myself.|
|Yes thanks Rt..
Once all the development work and new shaft is complete we should be in a sweet spot for about a year. Hopefully they will start paying a dividend then and building the cash up.|
|Thanks rt, I enjoyed the presentation. It does sound promising.
|Yes, positive news although the headline of the news release did give me heart palpatations until I managed to read its contents. Perhaps I have just grown to expect the worst from MML in recent yrs...
Philippine Mine Audit Status - HTTP://www.medusamining.com.au/wp-content/uploads/161007_philippinemineauditstatus.pdf|
|Excellent news. MML rises 3.3%.|
|ASX announcement out about Philippines mine audit. It seems unofficially we are in the clear.|
Thanks for the update.
Surely MML management have to earn their credibility, demonstrate responsiblity deploying the shareholders' growing cash pile, and build visibility of an increasing LoM at Co-O. Then we can look forward to a substantially increasing share price even at today's PoG?
PS: No reaction to yesterday's share dealing code announcement?|
They may have moved the price down, but will there be any follow through for them to buy into?
I am sure the Indian population will be happily buying at these prices in preparation for Diwali.
MML undervalued by just a little bit I feel! Get the feeling this will only get resolved with a move of gold into the $1400-$1500 range and a change in sentiment for even the most unloved gold miners.
|7% down after the smash on gold, could have been worse I think.|
So it took another 99 tonnes of paper gold to get the rout going!|
It's the usual 'same old, same old' we have had to put up with since 2012.
The SGE has got in the way by presenting a physical price since April which has allowed arbitrage to keep the difference to c. US$5 or so. With the SGE closed for a week it's back to the old games.
But the Banks do have to reduce their short exposure to the Dec contract - it currently stands at, wait for it ..... US$1,360 TONNES gold. So you can see that they are somewhat motivated to get some long closing helping them out.
Yes, very frustrating as imminent Q3 (Q1 in MML-speak) results should be very good with average PoG up 6% on the quarter. However, I note comments on the SHG thread that the SGE Shanghai exchange is closed this week for holidays, which provides some space for some US-inspired monkey business until SGE reopens. Any opinions on that?
It's not the threat of some puny 0.25% Fed rate rise (even if they could actually manage it without crashing the S&P), it's the usual cartel antics on the COMEX using concentrated naked shorts to dislodge longs and start a rout.
They have taken advantage of the Shanghai physical market being closed for a week's holiday so there can be no arbitrage. Last closing of SGE was gold at US$1,327.75, currently traded down to a discount of US$57/oz (-4.5%) by the paper market.
Silver is even worse. SGE closed at US$19.62/oz, currently US$17.79/oz (-US$1.83 or -10.29%).
All of this without a shred of news that can warrant it. In fact the opposite. US economic figures are dreadful. European banks pose a global systemic risk, etc, etc.
It's so blatent and quite disgusting that this still goes on and on!
|A posted here last week that any hint if a US rate rise could see gold fall.Yamaha Gold is down double digits in New York tonight.|
|Horrible breakdown in gold through $1,300.
So frustrating as I was looking forward to a bumper Q3 results season with the whole sector raining cash. My fear is that until we can find a support level for gold company level announcements will be completely ignored by the market. Aussie open tonight will be a bloodbath with everything marked down 5 to 10%.
A weak non-farm payroll number on Friday may stem the rout, but then again a strong number will slam gold again.|
|Wow! It's quiet here - all absorbed in the Annual Report?
Intriguingly a 14 page MML document on "Share Trading Policy" has just been released on ASX, some of it specific to CEO disclosures. I wonder why that has come about - there were comments/excuses? at the Mayfair meeting that trading windows for the BoD and Management were very restrictive.
Now that the rules are clear, hopefully we will see some meaningful BoD/CEO purchases.....