Is there a way to day trade LSE stocks only, using margin, with a small account? UK.

[ukstockbroke]

Is there a way to day trade LSE stocks only, using margin, with a small account? For UK clients?

 

[tomorton]

You can spreadbet them. The spreads in SB are not the narrowest and the margin requirements are high. But you can scalp and hold positions in opposing directions simultaneously and the profits are exempt from Capital Gains Tax.

 

[ukstockbroke]

You can spreadbet them. The spreads in SB are not the narrowest and the margin requirements are high. But you can scalp and hold positions in opposing directions simultaneously and the profits are exempt from Capital Gains Tax.

thanks, im new to day trading and so far i only really understand basic trading. ive no idea what spread betting is, are you buying lots of difference companies at once? i more looking to buy x stock at x price and sell later in the day for a small profit. can that be done on sb?
also which broker do you recommend?

am i able to put a stop loss like a normal trade?

 

[Sharky]

Like tomorton says, spread betting and CFDs is the usual route fro retail traders in the UK who want leverage. Apart from Interactive Brokers, DEGIRO is the only other broker I'm aware of that offers margin (see https://www.degiro.co.uk/helpdesk/money-transfers-and-handling/trading-margin) - so they might be worth contacting.

Otherwise your only other route are the private banks like Barclays Wealth, Coutts, if you've got a large enough bankroll.

If you're new to spread betting check out the excellent Financial Spread Betting site: http://www.financial-spread-betting.com/Spread-betting-uk.html and they have a comparison to cfds here: http://www.financial-spread-betting.com/course/Cfds-shares-trading-spreads.html

 

[Sharky]

thanks, im new to day trading and so far i only really understand basic trading. ive no idea what spread betting is, are you buying lots of difference companies at once? i more looking to buy x stock at x price and sell later in the day for a small profit. can that be done on sb?

Yes that can be done with spread betting

also which broker do you recommend?

IG and CMC are the two largest brokers, I've used both and can recommend them.

am i able to put a stop loss like a normal trade?

Yes.

 

[Smith2525]

I have only come across US stocks on the 'easy to use' MT4 based brokers. I tried Interactive Brokers, but found it to be very restrictive and complicated. I tried to purchase a French stock and had to ask their permission to access the market and all kinds of red tape to navigate through (questionnaires about my financial status and what not). I ended up giving up on it and withdrawing my deposit.