Trading NASDAQ shares - how?

longwalks1

Just wondered, can NASDAQ shares be traded through a standard X-O, or Halifax type share dealing account? Or do you need to open an account in the relevant country?

Thanks in advance

Biggles

britishboy wrote: »

Just wondered, can NASDAQ shares be traded through a standard X-O, or Halifax type share dealing account?

Yes, they can.

puzzledinvestor

Not on x-o, but many brokers do.
You should have a look at the commissions, which tend to be more expensive if you're using an UK broker, and in particular for the exchange rate which can be up to 1.75-2% in some cases.
There is very useful information at the-international-investor website (sorry, can't post the link)

Nicholas-bloody-Parsons

Most big broker firms do most of the international markets. But you have to fill out a paper form first called the W8-BEN; which registers you with the US authorities, the SEC i think.

I did the W8-BEN, but did not get round to buying anything because of swings in the exchange rate.

longwalks1

Cheers everyone, read a few article and tips on a couple of NASDAQ shares but didn't think of the exchange rate, and more than likely paying over the odds to trade from GBP to USD

r192

you can invest with halifax, i have a account with them and i believe its 11.95 per trade

rockitup

britishboy wrote: »

Cheers everyone, read a few article and tips on a couple of NASDAQ shares but didn't think of the exchange rate, and more than likely paying over the odds to trade from GBP to USD

Depends on whether you are trading big amounts or not, but with TD Direct Investing you can hold a multi-currency account and hold US$ to trade with. I bought my dollars through a currency broker and leave them in the account if not invested, this saves me on the usual 1.5% fees either side when trading.

If trading lesser amounts on US Shares you could spread bet in £'s per point movement in price, this saves you from currency fluctuations... But be VERY CAREFUL with the leverage afforded by spread betting, if kept low the leverage is ok. IG Index cover Nasdaq stocks and price them for future quarters too so your interest charges are known in advance. Spread betting is not so good if you intend to hold for the long term though.