Execution only brokers

[rabbitrun]

Hi,

I'm just about to start trading. One of the areas that I'm still looking for information on is brokers that allow the trader/investor to use an existing ISA account.

Thought I had it sorted with i Dealing only to be told yesterday that they can't offer reliable daily data from foreign markets, only the UK and Ireland. (It would be fine for EOD data and a longer term buy and wait strategy, not if you need intraday data to close out a position for instance).

My trading strategy works better if I have access to other liquid markets apart from the UK and of course I want to buy short as well as long and have some flexibility on stops.

Not much to ask for I thought. Does anyone have any suggestions before I open an account with Interactive Brokers and throw away all of that Capital Gains protection.

Thanks

Rabbit run

 

[Jack o'Clubs]

I'd suggest you either keep your i-Dealing ISA open and just put any UK trades through there, and do the rest through a decent international broker (like IB), or move your ISA to someone like Selftrade who offers a reasonable international service (although only generally only larger cap). But check that it's practical to trade through your ISA - assuming you've got around the £7k limit in there, dealing charges are going to be disproportionately high: don't let the tail wag the dog: often it's better to make money and pay the tax than not make the money in the first place whilst avoiding tax...

 

[rabbitrun]

Thanks Jack o'Clubs,

I'd suggest you either keep your i-Dealing ISA open and just put any UK trades through there, and do the rest through a decent international broker (like IB), or move your ISA to someone like Selftrade who offers a reasonable international service (although only generally only larger cap).

I've just found the International Retail Service on LSE which gives some access to bigger US and European stocks. Having invested in a comprehensive US stock feed it is still very limiting.

But check that it's practical to trade through your ISA - assuming you've got around the £7k limit in there, dealing charges are going to be disproportionately high: don't let the tail wag the dog: often it's better to make money and pay the tax than not make the money in the first place whilst avoiding tax...

I was only considering using my current ISA as I have a reasonable amount of capital in there (relatively speaking).

I think you're right about the two accounts. There's a limitation with what you can trade with an ISA anyway, based on g'ment legislation regardless of broker limitations.

 

[Glenn]

Thanks Jack o'Clubs,

I'd suggest you either keep your i-Dealing ISA open and just put any UK trades through there, and do the rest through a decent international broker (like IB), or move your ISA to someone like Selftrade who offers a reasonable international service (although only generally only larger cap).

I've just found the International Retail Service on LSE which gives some access to bigger US and European stocks. Having invested in a comprehensive US stock feed it is still very limiting.

But check that it's practical to trade through your ISA - assuming you've got around the £7k limit in there, dealing charges are going to be disproportionately high: don't let the tail wag the dog: often it's better to make money and pay the tax than not make the money in the first place whilst avoiding tax...

I was only considering using my current ISA as I have a reasonable amount of capital in there (relatively speaking).

I think you're right about the two accounts. There's a limitation with what you can trade with an ISA anyway, based on g'ment legislation regardless of broker limitations.

I can recommend what used to be Comdirect and is now called Selftrade.
All deals are £12.50 irrespective of size and you can manage several different accounts e.g. Your cash account, Wifes ISA's, your ISA's etc.
Glenn