Do any UK citizens on here use Interactive Brokers?

thenewcomer

i use IB by the way, albeit a new user

DireEmblem

If IB don't offer and ISA, and that is what you are after, there are brokers that link up to IB that do.

w00519773

DireEmblem said:

If IB don't offer and ISA, and that is what you are after, there are brokers that link up to IB that do.

I know there are brokers that link up using SIPPs:  https://www.interactivebrokers.co.uk/en/index.php?f=39434&ns=T&nhf=T.  Is there a link, which shows brokers that link up using ISAs? Are you based in the UK?

w00519773

thenewcomer said:

w00519773 said:

idkwhattosay said:

w00519773 said:

Why did you stop using Interactive brokers after moving to the UK?

Tax reasons (I had to close all accounts and subscriptions). What is your concern regarding IB? They are as good as they get in the retail market. If you want to see the exchanges and clearing houses they do business with, look here: https://www.interactivebrokers.com/en/index.php?f=561

I am impressed with them so far.  The only concern I have is that there is no ISA wrapper.  
I have a stocks and Shares ISA with Charles Stanley.  Say I sell some shares with Interactive Brokers and there is a capital gain, then can I move the gain to Charles Stanley? I am not sure how it works.

yes, thats correct. as long as it is within the ISA allowance.

Are you sure? That contradicts what eskbanker says in my other post here: https://forums.moneysavingexpert.com/discussion/6238548/is-capital-gains-tax-allowance-on-top-of-isa-allowance#latest

jimjames

w00519773 said:

thenewcomer said:

w00519773 said:

idkwhattosay said:

w00519773 said:

Why did you stop using Interactive brokers after moving to the UK?

Tax reasons (I had to close all accounts and subscriptions). What is your concern regarding IB? They are as good as they get in the retail market. If you want to see the exchanges and clearing houses they do business with, look here: https://www.interactivebrokers.com/en/index.php?f=561

I am impressed with them so far.  The only concern I have is that there is no ISA wrapper.  
I have a stocks and Shares ISA with Charles Stanley.  Say I sell some shares with Interactive Brokers and there is a capital gain, then can I move the gain to Charles Stanley? I am not sure how it works.

yes, thats correct. as long as it is within the ISA allowance.

Are you sure? That contradicts what eskbanker says in my other post here: https://forums.moneysavingexpert.com/discussion/6238548/is-capital-gains-tax-allowance-on-top-of-isa-allowance#latest

No contradiction. Replied on the other thread but you can pay in up to the ISA limit. It doesn't matter where that money is from

Stanley_Bay

Incredibly difficult website, imported from the USA. Asks for all sorts of info we do not use in the UK eg TIN. Very very very difficult to contact the firm. No phone number displayed plus if you want to send a message, you have to go through loads of FAQs.

Overall, I would steer clear - yes you might save a few quid versus certain British platforms but it is really not worth it. 

wmb194

Stanley_Bay said:

Incredibly difficult website, imported from the USA. Asks for all sorts of info we do not use in the UK eg TIN. Very very very difficult to contact the firm. No phone number displayed plus if you want to send a message, you have to go through loads of FAQs.

Overall, I would steer clear - yes you might save a few quid versus certain British platforms but it is really not worth it. 

We do have TINs. When this is asked for usually your NI number will suffice but if you have to submit Self Assessment tax returns HMRC gives you another TIN that it calls a UTR.

shortseller09

I use IBKR as a broker through my existing SIPP, and regularly get messages that they now offer an ISA.

Pros: can trade many global markets, FX conversion costs are peanuts.
Cons: terrible customer services, although there is a live chat if you can find it.

megatower

They do indeed offer ISA, which I have been using for a year now.