ISA Recommendation for Trading US Shares

Futuristic

shortseller09 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.

IBKR fee is £3 minimum per trade, over £6000 consideration is 0.05%, so on a £50k trade would be £25 one way.

No it's not a %. It's in USD per share. There is no £3 minimum per trade, its $1/0.35 depending on price plan you choose (tiered vs pro). 

https://www.interactivebrokers.co.uk/en/pricing/commissions-home.php

I have traded in and out of COIN with mid 5 figures and it has cost me $3 each time after all fees and automatic fx conversion inside their ISA. 

Treehoger1

wmb194 said:

For the next tax year, so from 06/04, T212 has a 1% cashback offer on Isa contributions.



https://www.trading212.com/isa

Hi, thank you for posting this. I have invest account with them and looks like I should be eligible for this offer but not certain. I plan to pen ISA invest in April so this would be great. Do you know if I would be eligible?
And they also started accepting shares transfers, do you know if I would be able to transfer some shares to ISA in T212, or would they need to go ti invest account?

wmb194

Treehoger1 said:

wmb194 said:

For the next tax year, so from 06/04, T212 has a 1% cashback offer on Isa contributions.



https://www.trading212.com/isa

Hi, thank you for posting this. I have invest account with them and looks like I should be eligible for this offer but not certain. I plan to pen ISA invest in April so this would be great. Do you know if I would be eligible?
And they also started accepting shares transfers, do you know if I would be able to transfer some shares to ISA in T212, or would they need to go ti invest account?

If you click on the "terms apply" link in that banner and look at section three it says that you need an Invest account - which you have and it says you can be an existing client - and you need to open a Isa account for the first time. So as long as you haven't had a T212 Isa before I'd say you will qualify. I took up the same offer last year and the cashback was paid instantly to my Invest account so assuming it will work the same you should find out pretty quickly either way.

You can transfer shares Isa to Isa but It's not possible to transfer shares held outside an Isa into an Isa. Instead you have to sell them, deposit the cash in the Isa and then repurchase them. This is often known as, 'bed and Isa.' You needn't transfer the shares in specie to T212 though, you could just sell them where they're held now and transfer the cash.

shortseller09

Futuristic said:

shortseller09 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.

IBKR fee is £3 minimum per trade, over £6000 consideration is 0.05%, so on a £50k trade would be £25 one way.

No it's not a %. It's in USD per share. There is no £3 minimum per trade, its $1/0.35 depending on price plan you choose (tiered vs pro). 

https://www.interactivebrokers.co.uk/en/pricing/commissions-home.php

I have traded in and out of COIN with mid 5 figures and it has cost me $3 each time after all fees and automatic fx conversion inside their ISA. 

Apologies, I stand corrected.