london stock exchange

Hi, does anyone trade LSE? Can you recommend a broker?

I'm interested in a couple of smaller stocks and I've sent some emails to nz brokers and was a bit surprised at how expensive it is. Eg asb securities charge 1.4% brokerage + 0.5% stamp duty (90 GBP minimum) but don't do all LSE stocks. Macquarie is 1.5% + 35GBP brokerage + 0.5% per annum.

I guess dealing with a UK based broker wouldn't be possible if you don't live there?

I have not traded uk shares for a long time so things may have changed.Costs were high as you have found out.selling was a problem as share certs had to be with UK broker before they would sell,then they had a fortnight settlement system,then a long time to get clear funds from Nz bank.
I was having a look round and found a site that may be of interest to you. www.selftrade.co.uk

I wouldnt mind knowing this also.

I had been buying up BP stock (Unfortunately) via an employee scheme and I know I was paying a small amount of stamp duty, not sure about sales though.
But when I was looking at selling, the costs seemed very high.
Some advice would be helpful.

Cheers

Hi captainigloo,

Please see the link below for information that may be useful in your search for a broker that offers UK trading:

https://www.directbroking.co.nz/Dire...tlTrading.aspx

Direct Broking offers a custodial trading service for the top 200 stocks (by market cap) on the London Stock Exchange (LSE).

Please let me know if you have any questions.

Cheers,
Alice

Thanks Alice. The stocks I'm interested in are outside the top 200.

I've looked at selftrade.co.uk already and they require a UK bank account according to their website. I've heard of ppl opening UK bank accounts from here in order to prove funds for their working visas, sounds like a hassle though. Might be worth emailing a few UK brokers to see what they reckon.

Like you i am interested in some blue chips but also non top 200 which have outstanding prospects

CFD's via someone like IG Markets is one option covers many LSE and AIM stocks www.igmarkets.co.nz

Brokerage fees are inexpensive around 10 pounds and no custodial costs (small amount of interest payable on long positions)

CFD's aren't for everyone ...but i've done ok in the UK and Aust markets

many options and quick to set up no foreign account needed

Bear

I'm just trying to find a NZ site that allows you to follow stock on the London exchange, I;ve been trying to find one for the last hr or so now without much success,..closest I got was the old direct broking site, that now leads you to anz, which needs you to open an account with them by making an appt to go in and sit down with someone,surely theres a site that you can sign up to that allows you to add stocks without too much hassle??

Thanks in advance,and Happy new year!!

I'm just trying to find a NZ site that allows you to follow stock on the London exchange, I;ve been trying to find one for the last hr or so now without much success,..closest I got was the old direct broking site, that now leads you to anz, which needs you to open an account with them by making an appt to go in and sit down with someone,surely theres a site that you can sign up to that allows you to add stocks without too much hassle??
The above sites not seem to work for me...
Thanks in advance,and Happy new year!!

Quote:

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Originally Posted by alliswellthanks

I'm just trying to find a NZ site that allows you to follow stock on the London exchange, I;ve been trying to find one for the last hr or so now without much success,..closest I got was the old direct broking site, that now leads you to anz, which needs you to open an account with them by making an appt to go in and sit down with someone,surely theres a site that you can sign up to that allows you to add stocks without too much hassle??
The above sites not seem to work for me...
Thanks in advance,and Happy new year!!

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Maybe you've already found something suitable, since this is a dated post, but I follow a couple though the "stocks" app on my iPhone.

Sharesight is also handy..

we do US and UK but yeh its expensive.... and they are held in custody with 5$ per month holding fee
I sold some US stocks last night for a client @2.5% :ohmy:
If you're interested private message me.