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ISA Recommendation for Trading US Shares

abeezar
Posts: 84 Forumite


Hi
I would like to open Stocks and Shares ISA to deal with US shares.
I see there are plenty of providers and I seem to think T212 is a better fit.
Consider starting with 5K ...and slowly building up to 50K+ ( year on year).
T212 does not charge Platform Fees / Buy and Sell transaction charges - but a 0.15 % FX fee - so it will be 0.30% ( buy and sell).
So for a 50K with T212 - FX Fees is £150.
So any recommendations from my fellow MSE members?
Regards
I would like to open Stocks and Shares ISA to deal with US shares.
I see there are plenty of providers and I seem to think T212 is a better fit.
Consider starting with 5K ...and slowly building up to 50K+ ( year on year).
T212 does not charge Platform Fees / Buy and Sell transaction charges - but a 0.15 % FX fee - so it will be 0.30% ( buy and sell).
So for a 50K with T212 - FX Fees is £150.
So any recommendations from my fellow MSE members?
Regards
0
Comments
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I've used AJ Bell for the last 15 years. Fees are amongst the lowest and the service has always worked very well for me. I've been tempted to try freetrade or HL but as I don't have any problems with AJ Bell it's likely that freetrade would be worse rather than better.
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Interactive Brokers. £3/mo ISA fee, 0.002% fx fee. US stock trades for me are around £2-3 each time on higher amounts than you mentioned.1
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Futuristic said:Interactive Brokers. £3/mo ISA fee, 0.002% fx fee. US stock trades for me are around £2-3 each time on higher amounts than you mentioned.
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For the next tax year, so from 06/04, T212 has a 1% cashback offer on Isa contributions.
https://www.trading212.com/isa
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gravel_2 said:Futuristic said:Interactive Brokers. £3/mo ISA fee, 0.002% fx fee. US stock trades for me are around £2-3 each time on higher amounts than you mentioned.
For GIA there's no reason for either, just go with robinhood UK. If they launch ISA product then I would move there.1 -
If you do this presumably you will need to complete a W8BEN form?
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Futuristic said:Interactive Brokers. £3/mo ISA fee, 0.002% fx fee. US stock trades for me are around £2-3 each time on higher amounts than you mentioned.0
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A small point I didn't realise until quite recently.Note that - as I understand it - ISAs don't fully protect you from tax on dividend income from foreign shares.0
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Johnjdc said:Note that - as I understand it - ISAs don't fully protect you from tax on dividend income from foreign shares.That's right, for instance you wouldn't be able to reclaim all of the US withholding tax, unlike a SIPP, as the US doesn't recognise UK ISA status so it would be the same as a GIA in that respectISAs don't even fully protect you from some UK taxes. E.g. stamp duty and the Panel on Takeovers and Mergers levy1
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