... The factor that persuaded me to change my views and have a go was the introduction of a low cost SIPP from DLJ Direct. (A SIPP is a personal pension that allows you to trade individual shares rather than invest in a fund).
My first impression of the site was that it was easy to navigate, ... Read review
Advantages: Fairly low cost, fixed rate dealing, fast, easy to navigate site. Disadvantages: Limit orders expire after one attempt to trade.
...a low cost SIPP from DLJ Direct. (A SIPP is a personal pension that allows you to trade individual shares rather than invest in a fund).
My first impression of the site was that it was easy to navigate, and all I had to do was print off the application form, fill it out and post it. I then waited a week or two for the pension transfer to be completed, and eagerly waited the 24 hours stated when I was told my user ID and password were ... ...My only complaint about the DLJ Direct web site is with the log in. The log in screen takes some time to load, and any log in details which you have typed are lost if the screen load has not been completed. Most other sites I use allow you to save time, by logging in before the screen has fully loaded.
Dealing is straightforward, but you have to specify a number of shares rather than a pounds sterling value, together with the stock ... more
Although I have been investing for many years, I have avoided using online share dealing services until recently because using the telephone is much more convenient. You do not have the hassle of logging onto the Internet, and you don't have to find a PC in the middle of nowhere with Internet access. The factor that persuaded me to change my views and have a go was the introduction of a low cost SIPP from DLJ Direct. (A SIPP is a personal pension that allows you to trade individual shares rather than invest in a fund).
My first impression of the site was that it was easy to navigate, and all I had to do was print off the application form, fill it out and post it. I then waited a week or two for the pension transfer to be completed, and eagerly waited the 24 hours stated when I was told my user ID and password were on there way. The user ID and password did not arrive. It was a week later, after much emailing and telephoning, before I had a user ID, password, and cleared funds in my account. It is early days yet, but my complaints were swiftly dealt with, and I was compensated for the delay.
My only complaint about the DLJ Direct web site is with the log in. The log in screen takes some time to load, and any log in details which you have typed are lost if the screen load has not been completed. Most other sites I use allow you to save time, by logging in before the screen has fully loaded.
Dealing is straightforward, but you have to specify a number of shares rather than a pounds sterling value, together with the stock code of the shares you wish to buy. It is not until you get to the next screen that you have a firm quote and discover how much the transaction will cost. This means that when limited funds are available (such as in a pension fund) you may have to go back a screen to re-adjust the quantity of shares required. Apart from this, dealing is quick, like most of the site.
Another irritation is the fact that limit orders can only be set up on a fill or kill basis. That is, the trade will only execute if the limit is met the first time an attempt is made to complete the trade. This makes the limit facility practically useless. If you have access to the Internet, you will be able to accept a firm quote, so the limit facility offers no advantage. If you do not have access to the Internet at a particular time, and you want to buy at a particular price, your limit order will almost certainly fail and be cancelled. DLJ Direct really need to re-think this if they want people to set up trades outside of market trading hours.
Overall my experience of DLJ Direct has been good, but I would not put any other business their way for the reasons I have given above. The limitations of their online dealing system are an acceptable compromise for my SIPP, but not for the rest of my portfolio.
Advantages: reliable, fast and effective Disadvantages: Slightly expensive and complex setup
I started dealing with DLJ after halifax share express let me down time and time again. I have to say they are very good and although I don't deal that often they haven't let me down. You are able to trade in more stocks than some brokers, include AIM market and I believe they are seriously considering adding a number of foreign markets. The dealing price is fair being within £5 of every one else - Not that much considering trades of just £1000 - ... ...firm backing up the internet business. I have to admit that i don't like the need to deposit funds into my DLJ account before being allowed to trade. This means I need to plan my deals meticulously and am unable to take up any unexpected opportunities that crop up. ...
mrbounty 01.10.2000
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Ciao members have rated this review on average: helpful Review of DLJ Direct
Advantages: Quick and have good customer support Disadvantages: none really
...good rates, and a real-time service. You can also trade in the US markets via the site if you apply to do so.
They also offer a very good interest rate on any cash that is in your DLJ account - better than most banks etc...
Highly recomended. ...
Advantages: Trades are quickly shown on your screen and portfolios updated. I have not had any errors apparent in any transactions. Disadvantages: Portfolio prices are from the previous day. It is not possible to dictate a market price for buying or selling.
I have been trading with DLJ Direct for a year now and I would not change to another broker
even if they were cheaper. I started by sending a cheque to be held in my account - and earning interest. Buying
shares is simplicity itself and your account and portfolio are updated within minutes.
One drawback is not being able to place an order to buy or sell at a preferred price. A price is quoted and held for 30 seconds after which it has to be "refreshed".
... ...market is closed as the price is at the whim of the market.
Dividends are sent to your account with DLJ and funds from selling shares are
available to be used immediately they appear on the screen.
I find the efficiency and speed of DLJ Direct offsets the minor disadvantages. ...
Advantages: Concise, easy to use, freephone customer service, UK and US trading Disadvantages: Money transfers take long, site has some niggles, transactions costs masked/not obvious, lots of snail mail coming all the time
I have been using DLJ for the past few months and find it works well for what I use it for (small scale, no day trading). The site is well laid out, except for a few niggles, the freephone service is excellent when you need to use it and I like the way i can trade both US and UK (though this does require two setup procedures - more as a consequence of differing regulatory issues on the two sides of the Atlantic I believe)
The site allows you to ... ...money to your account on DLJ takes about ten days (for US trading) and also sorting out all your documentation takes a while too (US again).
All in all, not bad. Not perfect, but not terrible. I'd check out all the options and see what suits you best. I gave up on Charles Schwab and chose DLJ over them. But for you it will certainly be different. ...
Advantages: Easy to logon using any computer Disadvantages: Nominee account only
DLJ Direct are an online Stockbroker enabling members to buy and sell UK shares via the internet. Portfolios are held in a nominee account (they keep your share certificates) and shares can be held in a tax free self select ISA account.
I have been using DLJDirect for about 6 months now and find the website and logon process very straightforward. I previously used Barclays Stockbrokers but found the use of digital certificates complicated when away ... ...DLJ direct.
DLJ Direct also have excellent research facilities, which is provided free and I would recommend them to people searching for a good quality and easy to use online broker.
Looking at dealer charges and bid offer spreads shows that DLJ are very competitive. Funding the account is easy via switch. You don't need to post them a cheque to get started. Current trade commission is 14.95 GBP for amounts less than 1500 GBP and a maximum trade ...
badgerbear 24.09.2001 (26.09.2001)
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