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New Broker - Suggestions appreciated
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demontfort
Posts: 265 Forumite
I've been investing/trading in UK stocks for the past 15 years using UK high street bank brokerage accounts. I'm now considering opening a new broker account which would offer CFDs and options and would pay me interest on my substantial cash balances. Has anybody got any recommendations? I'm looking for somewhere reputable as I do hold a lot of cash and trade quite large amounts so good execution and speedy cash transfers are more important than trading fees. So far I have looked at Charles Schwab and Interactive Brokers but even their UK sites seem very US centric focussing on US stocks (which I have no interest in) and fees in US dollars. I also want to hold my cash in Sterling and not USD. Any suggestions appreciated.
Thanks,
DM
Thanks,
DM
0
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I am a very light user of XTB (xtb.com).They trade CFD's and some shares (not sure which as I have never used them for shares).My account manager called me to let me know as of this year they pay interest on unsed balances. At the moment they are paying 5.2%.Note they have a monthy charge if you don't trade in the previous month.I don't believe they offer spread betting.They use their own platform and not MT4.You get an account manager wo will help you with trading and using the platform, should you require.I like their service.1
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Thanks both for your suggestions but l am looking for more reputable platforms. I know 212 (I'm not convinced by Bulgarian financial regulation) but not XTB (wasn't encouraged by their homepage with a picture of a tattooed goon).0
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