RE: Beginners Questions
(2014-07-22, 11:58 PM)pcabc Wrote:Quote:I guess your best bet like isatrader said is to look at Interactive Brokers.
Thanks Isatrader and Goodtyneguy. Looking at their website it seems to me that they don't offer ISAs nor SIPP. The pattern day trader rules you mention seem to be a US thing. I'm in the UK. I'm assuming somehow that I'd be operating effectively in the US not the UK. I will certainly bear them in mind. Unless I am getting a good batting average, which seems not exactly the case at the moment, I'll avoid margin.
They offer a SIPP account but not an ISA. In the case of the latter, I badgered them for a long time and encouraged others too over on the T2W forum but to no avail. I think you will find Stadia Trustees the most cost effective administrator/trustee if you only intend to hold a stock broker account in your SIPP.
They are regulated by the US SEC so they have to comply with the PTD rules despite the UK branch being located in the UK. I do n't think it's a problem with SIPPs as they do not allow margin accounts inside this structure.