Getting into day trading from the UK

ironjaw

Member
71 9
Hi ironjaw,
Kaeso makes a very good point. Given that you say in your OP that your starting balance will be £1,000 - I think it's safe to say that it will be many, many years before you need to worry about paying CGT! ;-)

Ha! correct. I'm mainly going to work on my strategy and order execution as well as market familiarisation to get practice. Thanks all for the help.
 

tomorton

Legendary member
8,379 1,335
Where does this (widespread) reluctance to use leverage originate? Leverage is a useful tool for the job. Like any other tool it can be misused - its always possible to bring that hammer down on your thumb, but if you really want a nail in the wall what else should you use?

By the way, for the anti-leverage crusaders, what do you think your mortgage is?
 
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TickedOff

Newbie
6 0
hey Im in a similar spot as OP except I want access to the max leverage as possible, with an account size of $5k. I believe with IB I only get 2:1 leverage?
 

oOMavvyOo

Newbie
1 0
Hi everyone
I'm in a similar position being in the UK and looking to open a trading account with a broker. My hope was that I could day trade from a Stocks and Shares ISA however the software for those brokers offering both a S&S ISA and low feels appears to be very basic. Has anyone had any joy finding a good middle ground?
 

MasterOfCoin

Experienced member
1,228 478
Hi everyone
I'm in a similar position being in the UK and looking to open a trading account with a broker. My hope was that I could day trade from a Stocks and Shares ISA however the software for those brokers offering both a S&S ISA and low feels appears to be very basic. Has anyone had any joy finding a good middle ground?
Welcome to T2W.

I trade with a selection of brokers doing just that.
You shouldn't have any difficulty finding an established broker that suits your needs for day trading.
But best avoid the offerings from old guard fuddy-duddy high street banks if you want better charting and a reliable easy to use interface, unless you like being logged out every few minutes and having to verify every tiny transaction 'for your own protection' ha ha.

But seriously, there's a whole bunch to choose from, just check out any that undercut the 'old guard'.
It costs the broker just pennies to execute your trade, so any charging you pounds for doing so need to be offering very, VERY good support for overcharging you with high fees.

If you get really stuck finding one that suits, by all means message me, but you find one easily enough.

☺️
 

ironjaw

Member
71 9
Welcome to T2W.

I trade with a selection of brokers doing just that.
You shouldn't have any difficulty finding an established broker that suits your needs for day trading.
But best avoid the offerings from old guard fuddy-duddy high street banks if you want better charting and a reliable easy to use interface, unless you like being logged out every few minutes and having to verify every tiny transaction 'for your own protection' ha ha.

But seriously, there's a whole bunch to choose from, just check out any that undercut the 'old guard'.
It costs the broker just pennies to execute your trade, so any charging you pounds for doing so need to be offering very, VERY good support for overcharging you with high fees.

If you get really stuck finding one that suits, by all means message me, but you find one easily enough.

☺️
I haven't found any good ISA brokers that support stop loss. IG, T212, Freetrade forget them. Interactive Investor, is quite expensive but many go with them as they have ISA and SIPP. The only everyone is recommending is Interactive Brokers but they don't have ISA. I think if your serious in wanting to day trade start with IB and forget ISA and deal with the taxes later.
 

MasterOfCoin

Experienced member
1,228 478
I haven't found any good ISA brokers that support stop loss. IG, T212, Freetrade forget them. Interactive Investor, is quite expensive but many go with them as they have ISA and SIPP. The only everyone is recommending is Interactive Brokers but they don't have ISA. I think if your serious in wanting to day trade start with IB and forget ISA and deal with the taxes later.

Well, ALL the brokers I deal with support stop loss and limit orders, including in their ISA offerings.

☺️
 

MasterOfCoin

Experienced member
1,228 478
Most of them get mentions here quite regularly.

And who said anything about 'lucrative'.

It's more 'does what it says on the tin'.

ie 'charting' or 'ISA' etc.

There are hundreds of brokers in the UK.
They all have pro's and con's, depending on any particular traders needs and preferences.
Terms, conditions and offerings constantly change over time.
As posts aren't user-editable to reflect those changes, it's pointless to post a list that would rapidly become obsolete.
- Which might be why there isn't one to be found anywhere on the forum.
Neither am I in the business of promoting my preferred brokers over others, as everyone needs are different.
Someone will always find fault with any given broker, like 'spreads too big' or 'execution too slow'.

So. You does your research and ya makes your choice.

😊
 

ffsear

Senior member
2,241 489
To be honest, I'm not interested in spread betting as by using leverage is the quickest way to blow your account.

It's also the quickest way to grow your account. But that comes down to the individual
 
 
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