UK prop

s.promo · Aug 13, 2010

Hello everyone

please advise me props that can offer trading in UK stock market

thanks

risktaker · Aug 13, 2010

You should be more specific...
What size account?
Experience?
Remote/on-site?
Are you looking for a firm based in the UK or one that is just able to trade UK stocks and based elsewhere?
And also where you're based.

s.promo · Aug 16, 2010

Quote from risktaker:

You should be more specific...
What size account?
Experience?
Remote/on-site?
Are you looking for a firm based in the UK or one that is just able to trade UK stocks and based elsewhere?
And also where you're based.

sent you private msg

just21 · Aug 16, 2010

There is no prop trading in UK shares as you have to pay .5% stamp duty.

marine · Aug 16, 2010

Quote from just21:

There is no prop trading in UK shares as you have to pay .5% stamp duty.

This is not correct. You can get around the stamp duty by trading CFDs or by holding a security for less than a month.

just21 · Aug 16, 2010

Quote from marine:

This is not correct. You can get around the stamp duty by trading CFDs or by holding a security for less than a month.

So how do you get a rebate for holding a security for less than a month?

marine · Aug 17, 2010

Quote from just21:

So how do you get a rebate for holding a security for less than a month?

If you are an exchange member and hold the security for less than 28 days. There are different types of membership and I believe LSE has recently made it easier to become a member for competitive reasons.

Or if you qualify for "Intermediary Relief" then there is no holding period.

See also http://www.londonstockexchange.com/traders-and-brokers/membership/faqs/general-faq/general-faqs.htm

just21 · Aug 17, 2010

Can individuals become members of the Exchange?
Private persons can not trade directly on the London Stock Exchange and to become a member, you must meet a number of requirementâs which can be found above and relate to authorised/exempt firms not approved/exempt individuals. If you wish to begin trading as a private investor you should contact one of the London Stock Exchange's retail member firms.