(This post was last modified: 2014-03-04, 06:22 PM by goodtyneguy.)
RE: UK Stocks - Watchlist and Discussion
This message relates to trading US stocks but by UK citizens through a Selftrade S&S ISA so thought it would be appropriate here.
If you've ever tried to trade non mainstream US stocks through their online platform you've probably encountered the messages informing you that the investment is not ISA eligible or it is not listed. This often happens on perfectly eligible stocks, please note that under HMRC rules any stock world wide that is quoted on a "recognised" stock exchange is eligible. For our purposes "recognised" covers all western developed markets and beyond. As far as I am aware it's there to protect people from being ripped off on obscure exchanges located in dodgy banana republic like countries.
If you are sure the stocks are eligible I would recommend you call in and don't allow the first operative to fob you off but speak to someone in authority who will have their IT department add them to their system. I have just done that and as an example have had added the following NASDAQ stocks ELON, SCON, CREG, FTEK, QTWW, and SGLBX and CDTI. I was told that they should be available to trade tomorrow.
Please note that ETF's who's provider are not domiciled in the EU are not eligible, even if the ETF only and wholly holds stocks on recognised exchanges. Surprisingly to me these are covered by the FSMA 2000 rules governing collective investment vehicles.
Best of luck.
EDIT: One caveat is the stock must be able to be settled through CREST which from isatrader's recent comment about his broker seems to be the norm with UK brokers.
(This post was last modified: 2014-03-04, 06:22 PM by goodtyneguy.)
RE: UK Stocks - Watchlist and Discussion
This message relates to trading US stocks but by UK citizens through a Selftrade S&S ISA so thought it would be appropriate here.
If you've ever tried to trade non mainstream US stocks through their online platform you've probably encountered the messages informing you that the investment is not ISA eligible or it is not listed. This often happens on perfectly eligible stocks, please note that under HMRC rules any stock world wide that is quoted on a "recognised" stock exchange is eligible. For our purposes "recognised" covers all western developed markets and beyond. As far as I am aware it's there to protect people from being ripped off on obscure exchanges located in dodgy banana republic like countries.
If you are sure the stocks are eligible I would recommend you call in and don't allow the first operative to fob you off but speak to someone in authority who will have their IT department add them to their system. I have just done that and as an example have had added the following NASDAQ stocks ELON, SCON, CREG, FTEK, QTWW, and SGLBX and CDTI. I was told that they should be available to trade tomorrow.
Please note that ETF's who's provider are not domiciled in the EU are not eligible, even if the ETF only and wholly holds stocks on recognised exchanges. Surprisingly to me these are covered by the FSMA 2000 rules governing collective investment vehicles.
Best of luck.
EDIT: One caveat is the stock must be able to be settled through CREST which from isatrader's recent comment about his broker seems to be the norm with UK brokers.