Hi,
I was looking at moving my ISA to an account where I can deal in both US and UK shares mostly long but the occasional short. Any recommendations would be much appreciated.
Thank you for any help
Correct me if I'm wrong, but I understood the ISA rules to be that you can't invest in non-UK shares? Nor can you "short" via spreadbets (I think to short you're restricted to just inverse ETFs)
I use IG.com for my ISA. Been happy with it so far.
You can't deal short in an ISA. Many platforms deal long in US and UK markets, also many European ones.
Yes, no restriction to UK listed shares, although a provider may choose to limit their offerings to that.
You're wrong, for many years can deal in some foreign markets inside ISA and SIPPs. Cuts out all the hassle with dividend tax.
I use IG also, good until something goes wrong then a nightmare. IG have no dealing fees on US shares, only 0.5% forex fee.
Ah interesting! I learn something new every day.
Hmm, this opens up possibilities... I was in self-imposed box with my ISA! :)
My ISA is 70% US so I’m moving to IBKR because the FX and US dealing costs are much lower.
If you predominantly trade UK small or micro caps I’d recommend IG as it provides level 2 price data for free. You can pay for it with interactive Brokers (ii) or sharepad but it costs. £280+.
How much are IBKR fees and forex fees?
How do you get level 2 on IG?
I was considering IBKR for next years ISA.
Sorry I got the IG free Level 2 wrong.
Below is a link to IBKR fee page.
https://www.interactivebrokers...
You can also get LSE level 2 pricing for £7 per month or just LSE live pricing for £4.50 per month.
In addition, they provide analyst forecasts for EPS, PBT, EBITDA, Revenue, Net debt, Dividends for free
Hi Boon,
You can trade stocks other than UK in an ISA but the offering will depend on the provider. To buy US stocks you will need to complete a W-8BN form but that is very straightforward.
If I do 3 trades a quarter they waive the platform fee, but the fee for level 2 is independant of that.
Very much still getting used to it. The analyst forecast data is there, it's more comprehensive than Stockopedia, but it's presented better on Shared.
For live market pricing, including level 2 and graphs there is a separate trader workstation. It looks comprehensive but I need to do some training
