Which UK online broker for trading on the Nasdaq?

[bubblewrap]

First post, hello!

I'm a UK citizen currently resident in the US where I have stock on the Nasdaq, I'll be moving back to the UK and need to figure out the best way of transferring (ideally) my stock, or selling and then repurchasing in the UK.

I am currently using Scottrade but they cannot maintain my account unless I live in the US.

I'd like to trade online and ideally not be paying huge commissions or exchange fees needless to say.

Recommendations, experiences?

 

[P4chira]

You will likely find it difficult opening an account with most UK brokers whilst you are resident in US.

I would suggest instead opening an account with a US broker that accepts UK resident citizens - for example Interactive Brokers or MyTrack; you could then continue running the account as is when you move back to the UK and would simply supply the broker with a form W-8Ben (so you get double taxed) when you move back to UK. There would then be no need to sell/repurchase in the UK and you will also find the commissions and fees on US broker accounts substantially lower than that charged by most UK brokers.

 

[bubblewrap]

Great advice P4chira, much appreciated!

 

[mikeball87]

First post, hello!

I'm a UK citizen currently resident in the US where I have stock on the Nasdaq, I'll be moving back to the UK and need to figure out the best way of transferring (ideally) my stock, or selling and then repurchasing in the UK.

I am currently using Scottrade but they cannot maintain my account unless I live in the US.

I'd like to trade online and ideally not be paying huge commissions or exchange fees needless to say.

Recommendations, experiences?

if you are moving back to the uk you might be best closing your current trades.

open and just opening an account with a broker over here.


you say you have just one company? you currently own? and how many shares?

 

[bubblewrap]

4 companies, the largest position is 9000 shares. A couple of the others are around 5000.

 

[mikeball87]

First post, hello!

I'm a UK citizen currently resident in the US where I have stock on the Nasdaq, I'll be moving back to the UK and need to figure out the best way of transferring (ideally) my stock, or selling and then repurchasing in the UK.

I am currently using Scottrade but they cannot maintain my account unless I live in the US.

I'd like to trade online and ideally not be paying huge commissions or exchange fees needless to say.

Recommendations, experiences?

4 companies, the largest position is 9000 shares. A couple of the others are around 5000.

you would be best buying shares direct rather than through a uk CFD provider..

so i would close those positions and just simply buy them back when you are in UK, via a UK broker, NOT CFD provider. because you will get charged every night for holding costs (interest )

 

[bubblewrap]

Thanks again for the advice Mike, I wasn't aware that could be an option, I'll have to look into that further.

 

[vanyo1]

you would be best buying shares direct rather than through a uk CFD provider..

so i would close those positions and just simply buy them back when you are in UK, via a UK broker, NOT CFD provider. because you will get charged every night for holding costs (interest )

There are no overnight charges when you buy cash CFDs with DF Markets

 

[maxtail]

Does anyone know any broker allowing to trade in US Equities, should not resident in UK nor in USA ? Though not interested in CFDS..

 

[bubblewrap]

So, with CFDs you can only buy specific shares that they have selected?

 

[yellowfloyd]

First post, hello!

I'm a UK citizen currently resident in the US where I have stock on the Nasdaq, I'll be moving back to the UK and need to figure out the best way of transferring (ideally) my stock, or selling and then repurchasing in the UK.

I am currently using Scottrade but they cannot maintain my account unless I live in the US.

I'd like to trade online and ideally not be paying huge commissions or exchange fees needless to say.

Recommendations, experiences?

Have you tried Interactive Brokers? They're a US broker who have operations in the UK I think so they may be able to help you.

 

[bubblewrap]

Will check them out thanks floyd!