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The Hand of Scalpuman :: The Markets Battlefield Forums :: The Padawan traders ForumShare | 
 

 Equity Platforms in the UK

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Snapman



Posts: 624
Join date: 2009-06-25
Age: 24
Location: New York City

PostSubject: Equity Platforms in the UK   Wed Jun 30, 2010 12:59 am
Hey,

What are good equity platforms in the UK, my friend is interested in starting to trade equites. I'm not familiar with what they have over there. He has 5k start trading. any help would be appreciated.

-snapman
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Sauros



Posts: 502
Join date: 2009-05-14
Age: 37
Location: London

PostSubject: Re: Equity Platforms in the UK   Thu Jul 01, 2010 2:57 pm
Snapman wrote:
Hey,

What are good equity platforms in the UK, my friend is interested in starting to trade equites. I'm not familiar with what they have over there. He has 5k start trading. any help would be appreciated.

-snapman

Hey, it depends on what type of trading/investment horizon your friend considers. For the shorter term/ swing (from minutes to a few weeks) I'd recommend he has a look to spread betting platforms. To be frank I don't trade equities but indices, but I know that with spread betting, there's no stamp duty on stocks and the gains are tax free in the UK. This said, it's highly leveraged and if your friend doesn't want to use leverage on his equity positions, with 5K he won't be able to trade more than a stake of £1-2 in only a couple of stocks.
For instance, having a stake of £1 per 0.01 point on a stock priced at 50.00 is equivalent to have a portfolio with £5000 of this stock.
For the longer term, one needs to have a look at the overnight costs (generally Libor+350bps) as in the long run they end up pretty expensive.
A list / review of spreadbet brokers can be found here : ]http://www.financial-spread-betting.com/where-can-I-spread-bet.html
I personally use GFT for spread betting.

Otherwise, for equities I've been told optionsXpress and tradeMONSTER to be decent
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Equity Platforms in the UK

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