Recent content by airmark

from this discussion: https://www.bogleheads.org/forum/viewtopic.php?t=196465 and specifically this document: https://gdcdyn.interactivebrokers.com/Universal/servlet/Registration.formSampleView?ad=uk_customer_agreement.html it seems that all IB customer assets are held by IB LLC which is located...

When you say through internet banking, you mean via BACS (now Faster Payments)? I am in the process of opening an account with them and they categorically told me that only wire transfers are accepted. This seems absurd to me, and quite frankly unacceptable (I do not want to pay wire transfer...

This is very interesting. I'm quite surprised to hear actually. I would imagine that retail traders would be net buyers of options (as a directional punt) rather than net sellers (for collecting decay).

Also, one more point: the CGT is paid only if there are capital gains. Whereas the other additional costs in spreadbetting compared to a traditional direct market access broker are paid regardless. A proper cost-benefit analysis has to take that into account by weighing the two scenarios with...

It's not 0.5% vs 28% tax. It's 2.5% on the notional (paying 2% financing vs receiving 0.5%) PLUS the difference in transaction costs (not major as only do very few transactions but still much better to trade directly in the market vs crossing the spread every time) PLUS there's a tax free...

I see. Not very good for long term buy and hold positions then. How about for the following? I have been selling naked OTM puts for a while now against cash for the entire notional (so if they go in the money I get assigned which I'm happy to do). I have actually been assigned less than 10% of...

Hmmm. And it's still called "financing" charge? How is this justified? And is there any way to avoid it?

What happens if the full notional of the underlying bet for a simple financial instrument with no cost of carry (for example equity shares) is deposited in the account? For example, say I buy the equivalent of 100 shares of BP and I have 500 quid deposited in the account, so not using margin at...

I've had similar experience, coincidentally with Scottrade as well. Filed both US and UK tax returns for a couple of years, and eventually when I mentioned to Scottrade that I now live in the UK, they said they have to close my account as they can't knowingly cater to non-US residents. So I...

Don't you have to pay the £30k charge for using the remittance rule though, even if the money stays abroad? Maybe one way to avoid it is to set up a company (LLC) that you own and all the trading (and the profits) to stay within the LLC as retained earnings and only pay yourself via a dividend...