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Online trading query     

foitek - 20 Jan 2004 18:43

Is there anyway of opening an online trading account with a UK broker without needing to have a UK bank account? A few of the ones I've tried have this requirement which is a bit awkward for me. My own online broker (in Ireland) doesn't give access to all the shares in the FTSE or to any in the AIM. Are there any in the Channel islands or Isle of Man?

Ta, foitek.

Kayak - 20 Jan 2004 20:59 - 2 of 8

Try TD Waterhouse. I believe they have an in-house bank account as well as a dealing account and so might not have that requirement.

erencr - 28 Jan 2004 10:47 - 3 of 8

Does anyone know if it is possible to set up a trading account as a Limited Company as opposed to personal ?

If so, with whom ?

little woman - 28 Jan 2004 11:01 - 4 of 8

foitek, I opened my CFD acccount with D4F without providing bank details. They asked for them after I opened the account, incase I wanted to transfer back to my bank account. They accept credit cards to credit your account.

erencr - opening a trading account as a limited company is the same as opening a bank account. But it may not be a good idea - limited companies don't get CGT allowances, and accountants are gearing up to suggested people de-register Ltd companies, as they believe they are going to get hit badly in the next budget.

erencr - 28 Jan 2004 11:29 - 5 of 8

Many thanks little woman, where did you get your info from, would like to do some research ?

little woman - 28 Jan 2004 11:59 - 6 of 8

All over the place! Some from this site, some from sites that other mention on these BB, and of course the actual companies I'm interested in sites.

If you are going to invest (buy shares from a broker with the intention of holding so you hope the shares go up) you need to pay attention to comments from traders who are shorting. (Traders are looking for price movements over ver short periods - a little as minutes, or longer - but that can include the share price going down - hence shorting) If a share is being shorted, you need to stay away until the dust settles, which can take a long time!

Traders don't tend to have accounts that only allow you to sell shares that you have bought - they are for investors!

little woman - 28 Jan 2004 12:00 - 7 of 8

Before I forget - theres always the traders thread - lots of info if you know how to use it!

erencr - 28 Jan 2004 13:33 - 8 of 8

little woman, I meant info on tax circumstances.. CGT for companies etc..
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