australian seeking simple trading plaform in the uk...

rw1 said:

Hello,

I am an australian, now living in the uk, and i used to receive the Rivkin Report in Australian - a journal that gave tips on when to buy and when to sell etc.

I made quite good returns from it, and i simply used my banks online brokering system - it was really easy - i just read the report, went to my online broker site, searched for the stock recommended, bought it and watched the share price till it got high and then sold it.

So i'd like to get the same sort of system happening now i am in the UK.

So first i'm after a good advice website/e-newsletter with proven performance.

And secondly, a simple online trading site, i don't understand different types of stocks and UK stock terminology, and i am more comfortable with 'this costs this much, buy it, sell it at a higher rate'.

Any tips much appreciated.

Thank You

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dcraig1 said:

IMHO your recent good returns have a lot more to do with a bull market than Rivkin. The first question to address is whether that market is likely to continue.

As for a broker, I suggest InteractiveBrokers which is vastly better than any of the Australian banks such as CommSec etc. The universal account allows trading a huge range of markets including Aus, UK, European, US, Japanese and other stocks from a single account. I doubt that you will find an Aus or UK broker that can match their commissions.

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dcraig1 said:

The other thing I forgot to add is that there is an 0.5% stamp duty on purchases of UK stocks, which rules them out for daytrading. This can be avoided by using CFDs, but you need to DYOR.

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