Which platform for holding US stocks in ISA?

BrockStoker

Steve182 said:

BrockStoker said:

IG's loss is now AJB's gain, although Mrs Brock might open one with them if they can get their act together soon.

With iWeb I'm paying 1.5% FX charges, so AJB is quite attractive in that respect. I was actually planning a 10K trade (more likely would have been 5K + 5K, but a single 10K trade might be better, or even more?), although I could do 20K. Not sure if that would make much difference?

AJ Bells FX commission -

First £10,000	1.00%
Next £10,000	0.75%
Next £10,000	0.50%
Value over £30,000	0.25%

Thanks. I think I could more than make up the difference by splitting up and buying on the dips, but the sliding scale should help more at the other end (hopefully!).

My original plan was to also split up a long term 20K holding in a single stock between Mrs Brock's account and my own, meaning instead of one account maxed out with a single stock (probably not the best use of an AJB account), and one with 20K to invest in other stocks, I'd have 10K of that stock plus another 10K so I've got something to play with in both new accounts.

maxsteam

You need to check the rules. My understanding is that foreign shares that are listed on a "recognised" stock exchange are allowed. Foreign currencies, most foreign funds, ETFs and other derivatives are not allowed. This is my understanding. Some platforms interpret the rules differently. If you are struggling to find a platform offering a particular product within a ISA wrapper, it may be that it is not allowed under HMRC rules.

Voyager2002

Fineco bank have just emailed me to say that they are now accepting applications for their new ISA, with investment possible before the end of this financial year. I use them for unwrapped investments, partly because they do not charge for currency conversion (no fee and very low 'spread'). The details of the ISA are still a little vague, although they highlight that the platform fee will be capped at under three quid (not sure if that is per year or per month!).

Thrugelmir

Voyager2002 said:

The details of the ISA are still a little vague, although they highlight that the platform fee will be capped at under three quid (not sure if that is per year or per month!).

You would expect that to be per month. 

Voyager2002

As a footnote: Fineco have now responded to me and it seems they are not suitable.

They wrote:

Regarding your email, we inform you that to open an account normally

takes few working days, but it is not yet possible to add ISAs

accounts to the standard one for new customers (you were able to

open an ISA account because you requested early access).

We specify that ISAs accounts should be launched in a few weeks for

all the customers (by the end of March 2021).

Please, be advised that in our ISAs accounts is not possible to

invest in securities listed in currencies differents than GBP.

Please, be advised that at the moment there is not any bonus or

promo for bringing a friend to Fineco.

We specify that for more details about opening an account, your

friend can call us at the following numbers:

0800 640 64 65 from UK (landline and mobile)