Trading US stocks

[kkarank]

Any recommendations for a good broker who offers US equity trading ?

Are they based in the UK/US ?
Is there any stamp duty on US stocks ?
Will i have to convert GBP to USD before trading ?
Are they commissions higher than those for trading UK stocks ?

Cheers

 

[damianoakley]

Hi kkarank,

I trade exclusively U.S. stocks although I am based in the UK.

I would recommend interactivebrokers.co.uk with whom you can buy 200 shares for $1.00 - very cheap.

You can fund an account with them in dollars by direct wire transfer from your UK bank account.

It is cheaper to trade U.S. stocks than UK stocks because commissions are cheaper.

There is no stamp duty to pay on U.S. stocks.

Feel free to send me a personal email if you would like any more detailed information.


Good Luck,

Damian

 

[kkarank]

Hi kkarank,

I trade exclusively U.S. stocks although I am based in the UK.

I would recommend interactivebrokers.co.uk with whom you can buy 200 shares for $1.00 - very cheap.

You can fund an account with them in dollars by direct wire transfer from your UK bank account.

It is cheaper to trade U.S. stocks than UK stocks because commissions are cheaper.

There is no stamp duty to pay on U.S. stocks.

Feel free to send me a personal email if you would like any more detailed information.


Good Luck,

Damian

thanks damian , you seem to be the guy to shadow then

are the funds safe with a foreign broker ? like with a UK broker you are covered under the FSA .do these folks have a UK presence and how is the support - i will have a look at their platform.

thanks,
kk

 

[damianoakley]

kk,

Feel free to shadow! You may send me a personal email any time if you would like to ask me anything at all about trading U.S. Stocks - it is my bread and butter. I will gladly let you know what stocks I am currently involved in if you are interested.

As for the safety of trading with Interactive Brokers, they do have a London office although their HQ is based in Connecticut. Check out the "About IB" tab on their website for loads of details about their regulation, etc.


Thanks

Damian

 

[kkarank]

kk,

Feel free to shadow! You may send me a personal email any time if you would like to ask me anything at all about trading U.S. Stocks - it is my bread and butter. I will gladly let you know what stocks I am currently involved in if you are interested.

As for the safety of trading with Interactive Brokers, they do have a London office although their HQ is based in Connecticut. Check out the "About IB" tab on their website for loads of details about their regulation, etc.


Thanks

Damian

just checked their site ....seems that they have a $5000 minimum account limit ?? will have to give that a miss then as have just lost a lot in partygaming !!

btw- damian why does it say 'VENDOR' against your name ??

 

[damianoakley]

Hi kk,

Yes, Interactive Brokers' minimum opening balance is $5,000 which is around £3,000. I would not recommend that you trade stocks with less than this amount to be honest.

If you want to paper trade before "going live", there are a couple of trading simulators that I could recommend, but they are for U.S. Stocks only.

To answer your question, the reason I have the word "Vendor" next to my name is because I provide a private one-to-one coaching service for clients who wish to be shown exactly how I trade. If you click on the "www" link at the bottom of this post, you can view my website which provides full details of everything I do.

Please be clear that all my posts on Trade2Win are to discuss trading topics with people and not to discuss the details of my coaching service. If you do wish to make enquiries about private coaching, please use the email form on my website or send me a Trade2Win personal message.


Thanks

Damian