Happy New Year!
Any of the traders out there have a SIPP account which features the following:-
1. Stop losses on US stocks.
2. Trailing stop losses on us stocks.
3. Cash can be kept in US dollars to avoid fx transaction fees.
4. Reasonably priced. Low fees.
5. Automated Buy order once SP hits xyz.
I’m with HL, which to be fair has been pretty good for uk investing. But, I want to see if I can get more success over there, with more of a trading element.
Cheers!
Nick.
Live in Glasgow, Born 1982. Trading within my Hargreaves landsdown SIPP. Evolved to growth and momentum stocks with little to no debt and a track record of earnings. Favourite authors include Peter Lynch, Mark Minirvini. Read Benjamin Graham, but found little success in value strategy, so I’m now about growth. Would say 2020 was my first year (of 3) as having success. Ambition is to evolve as a private investor but 20% per year would keep me interested, and more importantly retired in 10 years. more »
IKBR - Interactive Brokers.
$1 transaction fee, fast fill at small quantities (liquidity) and peanut spread - all what the UK does not have.
Extremely complex to set up and customise and if have other interests (boat sailing, Ferrari battery charging (because you don't use it), wife, kids, food, etc) perhaps too much stress.
Hence my reason for Stocko and TradingView for the technicals to try and simplify investing for 2022.
Maybe find a good private investor management co and go sail the boat.
I use Ig Group (LON:IGG) but not a SIPP. Can you hold US$ Cash in a SIPP, in an ISA you can’t, has to be in £s. I don’t use stop losses, I think IG may have some arrangement but not trailing. In an ISA you can buy at limited price and the only fee is 0.5% forex, no transaction fees, if you do 3 trades in prior month. Not sure you will find any SIPP providers that offer what you want. I would consider using an ISA for US stocks. I think HL are expensive especially for US stocks.
I was considering AJ Bell for a SIPP but their fees are almost as high as HL unless you do lots of trading, 10 trades per month. There forex fee is 1% I think.
Happy New Year.
I have a SIPP with Interactive Investor after transferring from Fidelity. Flat fees of 9.99 for a service plan and an extra 9.99 per month for the SIPP with 6months free when transferred in, so eventually 19.99 per month.
I have shares in Apple and there is the option to setup a stop loss for up to 90 days. There isn’t a trailing stop loss option as far as I can see.
Cash can be kept in US dollars but the fee to convert from UK pounds is 1.5% up to £24999, 1.25 25000 to 49999 etc with a sliding scale to 0.25 for over £600,000
There is also a limit buy price which can be set to run for up to 90 days as well.
Screen for Stop Loss attached
Hope this helps!
hmmm, sorry my reply was maybe not relevent to the question asked, so scrubbed it.
Just saying, dont take too many risks with the SIPP....
Yes, from what I’ve read your right. You can’t hold US dollars in a ISA but can in a SiPP. I don’t know the reasoning behind it. cheers!
Yes you are right you can hold foreign currencies in a SIPP. Interactive Brokers look like your best choice, then Saxo but their fees are higher.
Hi Nick,
I use interactive investor for my Sipp dealings in US Stocks which I hold in US dollars so saving me transactions costs. If you are interested they also have a referral promotion that will save you some fees for the year which I could add you too.
Cheers
Rob
Hi Rob,
Thanks for the above.
I've just signed up to them, but it says as I've already opened the account its too late. Shame could have made/saved us both a bit. Ah well next time.
Good to know I'm not the only one going down this route. So far I've had success in the method (trading), but getting killed in fx charges. Hopefully this will crack the process going forward. also a bit frustrating you cant hold USD in ISA. Wonder what the thinking is there.
Nick.
