We wanted to open up the world of investing to everyone so you can start with as little as £5. On the other side, if you are opening a General Investment Account (GIA) there is no account maximum and so you can invest as much as you like. If opening an Individual Savings Account (ISA), however, you will be subject to the ISA allowance (which is currently £20,000) and cannot invest more than this allowance in the tax year. You can read more about ISAs here: https://www.gov.uk/individual-savings-accounts
We are totally transparent with what we charge you. Everyone is charged the same fee: 0.70% annually. So if you have £2,000 invested you will pay £14 for the year, or just £1.17 per month.
We charge our fees on a monthly basis in arrears; for example, the Platform Fee due for the month of April will be collected at the end of April. The Platform Charge is calculated at the end of each month based on the value of the investments held in each of your Platform Products and charged at 1/12th of the annual fee of 0.70%.
We don’t charge you any additional costs - whether you are opening or closing your account, or depositing or withdrawing from your account. We don’t charge any trading costs either. There are two other costs: the fund costs, there are the costs that the ETF fund managers charge, typically c.0.30% and the a cost associated with buying and selling in the market (this is known as the bid offer spread) this is between 0.14% and 0.20% depending on the theme / risk level you choose.
Right now, we offer ISAs (which are tax free) and General Investment Accounts (GIAs, which are taxable). In the (near) future, we are planning to launch JISAs (so you can start saving for your children), LISAs (if you are saving for your first home or retirement) and SIPPs (for those putting money away for a pension).
Yes, if you open an ISA with tickr then this is a flexible ISA.
A flexible ISA allows you to withdraw from your ISA and put the money back into your ISA without affecting your allowance, so long as it is put back in within the same tax year as it was withdrawn.
Once your tickr account has been activated we will set up a direct debit mandate with your bank, which will take them 5 working days to complete. Once this is set up we can then begin to collect payments from your bank account. Each payment will take 2-3 working days to reflect in your tickr account once it has been collected from your bank account.
At present we collect all payments by direct debit, whether they are one-off payments or a monthly arrangement. We are looking to introduce alternative payment methods, such as debit card payments, these will be introduced in the tickr app soon.
Currently we invest your money in a range of Exchange Traded Funds (ETFs). ETFs are baskets of stocks or bonds that are grouped together into a fund. For example, the “Global Clean Energy” ETF, which is made up of companies that are addressing the growing needs for renewable energy around the world.
We trade weekly on a Wednesday. This includes any purchases if you have added money to your account; switches if you have requested to switch out of one portfolio and into another; and sales if you have requested to withdraw from your account.
You can let us know that you need to withdraw money whenever you like by requesting a withdrawal in your app, and we don’t charge for this. It can take a couple of weeks for us to sell your investments and return your money to your nominated bank account, so just make sure you plan for this. Remember investing is for the long term.
This depends on the day you request to withdraw from your tickr account. Any requests will be put in motion on the Wednesday after you have submitted your withdrawal request through the app. We will firstly sell your investments (if necessary) which should settle on the Friday. On the Monday after this (or the next working day if this falls on a bank holiday) the cash proceeds are then transferred via BACs to your registered bank account and should settle with you within 3-5 working days later.
We will obviously be sorry to see you go but yes, you can close your account whenever you like. To do this please just email us at email@example.com with your request. We will then sell your investments on our next trading date and transfer the cash proceeds to your nominated bank account once the sales settle.
No. We made sure this wouldn’t happen, as it’s easily done. Just re-download the app and sign in, and everything will still be there.
It’s important to understand that by investing in the stock market you could get back less money than you put in. This is why we recommend using our app over the medium to long term (3 to 5 years and over) to build up your savings, as markets are more likely to see positive growth over the longer term. If you are unsure if investing is for you then you should seek advice from a suitably qualified advisor.
Yes. Your money is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS). We are an appointed representative of a company called Met Facilities LLP, which allows us to offer you this protection. It’s important to understand that the FSCS doesn’t cover you in the event that your investments go down and you get back less than what you put in. You can read more about the FSCS protection for investments here: https://www.fscs.org.uk/.
Your money is held in a custody account managed by our custodian, Third Platform Services. Third Platform Services has been established for over 10 years and they are regulated by the Financial Conduct Authority (FCA). They hold your money separately from tickr in a ring fenced custody account.
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