Shares on multiple stock exchanges & other currencies?

adindas

Could someone please advise the UK SIIP platform where you could do frequent tradings?

I am aware I could use S&S ISA Trading platform but I prefer the option to take advantage of getting tax release earlier from getting Top up from HMRC.

Ideally

It allows unlimited tradings

it shall be the smallest fees for doing frequent tradings.

All markets or at least reasonably well diversified stocks

No spread for buying and selling (or the spread relatively the same level with other big players such as HL, Interactive investor, etc?).

No or minimum fees for trading in foreign currencies.

Thanks

bowlhead99

adindas said:

Could someone please advise the UK SIIP platform where you could do frequent tradings?

I am aware I could use S&S ISA Trading platform but I prefer the option to take advantage of getting tax release earlier from getting Top up from HMRC.

Ideally

It allows unlimited tradings

it shall be the smallest fees for doing frequent tradings.

All SIPP platforms will allow 'unlimited tradings' but they will charge you for it. Some will give a break on the fees if you are doing higher volumes of trading (e.g. at AJ Bell Youinvest, online trades are £4.95 if you did ten trades in the previous month, down from £9.95 for less frequent traders).

Some fixed fee providers are as low as £5 a trade even if you are only doing a couple of trades, but you have to pay them a higher annual admin fee (e.g. IWeb at £90 or £180 a year depending on the size of your SIPP; Barclays is £6 a trade on top of the £150 a year  ). Interactive Investor have a bundled package that gives you a couple of free trades a month with extra ones at £3.95 or £4.95 for UK and US trades respectively, but it costs £240 a year on top of their standard £120 a year SIPP admin.

The 'commission free' providers such as Trading212 and freetrade and eToro don't offer pensions, so about a fiver a trade is the best you'll do with the mainstream ones. 

There are some execution-only brokers that have more attractive dealing costs and cover lots of international markets and will offer accounts to SIPPs, but won't actually administer the SIPP itself or act as trustee - meaning you would need to appoint someone else to do that. So for example you could open a SIPP with Investacc but use the brokerage services of Saxo (https://www.home.saxo/en-gb/accounts/sipp/approved-trustees ). Or get a SIPP trading account with IG.com where you'd need to pay James Hay to provide the admin and trustee services (https://www.ig.com/uk/investments/share-dealing/costs-fees#sipp ).

All markets or at least reasonably well diversified stocks.

Most would not offer 'all markets' but cover the main ones you've heard of. For example AJ Bell (https://www.youinvest.co.uk/our-services/international-dealing ) or Interactive Investor  (https://www.ii.co.uk/investing-with-ii/international-investing ) cover quite a few. I use AJ Bell and have stocks from both ends of the map - Hong Kong to US/Canada with various European ones in between

No spread for buying and selling (or the spread relatively the same level with other big players such as HL, Interactive investor, etc?). 

There is always going to be a spread between buy and sell prices because that's how stock markets work, but all UK regulated brokers who offer SIPPs will have a duty of best execution.

No or minimum fees for trading in foreign currencies.

The going rate for currency exchange on most mainstream platforms is about a percent for small trades, which would probably start to hurt if you were daytrading. If you are doing lots of deals in other currencies, Interactive Investor might be more attractive as they let you have a multicurrency cash account so when you sell an investment for dollars or euros, you can keep those dollars or euros without being forced to flip them back to sterling. But you'd be paying at least £240 a year for the services once the offer to waive the £10pm for the SIPP expires after the first six months.