Paper shares - US stock - where to hold??

barras

Hi,

I've recently transferred most of my paper shares to a Hargreaves Lansdown accout - however they won't accept some US shares I have.

Anyone know of a share service that will take my paper stock (it's Nasdaq listed).

Cheers,
Barras

digerati

barras wrote: »

I've recently transferred most of my paper shares to a Hargreaves Lansdown accout - however they won't accept some US shares I have.

Anyone know of a share service that will take my paper stock (it's Nasdaq listed).

Open an account at a US discount brokerage. Typical sales fees are $5-10 on any size transaction and can be done online. It'll take a while to get the account up and running plus some paperwork but it's worth the effort. You send them the share certificates and they convert to electronic form (like CREST).

A UK broker will usually charge £75 for the same service as they are foreign shares.

Hope this saves you money :-)

Biggles

Selftrade only charge £12.50 to trade US shares but it isn't clear whether you can transfer in US certificates.

paulspenceley

Open an account at a US discount brokerage. Typical sales fees are $5-10 on any size transaction and can be done online. It'll take a while to get the account up and running plus some paperwork but it's worth the effort. You send them the share certificates and they convert to electronic form (like CREST).

Do you know any US brokers that will accept UK clients with a UK mailing address?

I tried to set one up a while ago, but it was difficult as they all seemed to need a Social Security Number, and a US address.

digerati

paulspenceley wrote: »

Do you know any US brokers that will accept UK clients with a UK mailing address?

There are quite a few that accept foreign clients. Can't give any recommendations here, but suggest you Google for discount US brokers, etc. I found a host of them that accept non-US clients.

paulspenceley wrote: »

I tried to set one up a while ago, but it was difficult as they all seemed to need a Social Security Number, and a US address.

Avoid these ones as they aren't geared up to accept foreign clients. You don't need a Social Security Number or US address to open a US brokerage account. You will need to provide a copy of your passport, utility bills and bank account statements as proof of ID.