UK-based broker to trade S&P stocks

Hi

The title says it all (apart from meaning trade not stade!!) ... can anyone recommend a UK based broker with online platform where I can trade S&P stocks intra-day ?

I am not a big trader so costs of each trade are an important factor to me.

Thanks :-)

Hello,

I'm not aware of any uk broker with such a platform.

Maybe try CFD's, spreadbet providers or open a US account in the US.

I believe iii offers US stocks, but i'm not sure how good they would be for intraday.

Hi Ns3,

Thanks for your reply.

Ok, forgetting intraday trading, who would you suggest as far as US brokers for this?

Thanks :-)

I'm currently using Tradeking after their merger with Zecco, my previous broker.

You have FX risk and you must consider the cost of depositing and withdrawing, however commissions are only $4.95 and you pay no stamp duty. For long term investments, it makes sense, but if you need to deposit or withdraw regularly, I wouldn't recommend.

Hi Ns3,

Many thanks for the reply. I will take a look.
....

thanks but I am in the UK and they only seem to accept US applications.

"We're sorry, but at this time, we cannot open accounts for individuals living abroad unless you are a member of the United States Armed Forces and have a valid overseas military address"
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Anyone else ?

Hi Willowgal,

Try Intertrader. I'm currently using them at the moment.

They offer pretty much all the US Stocks, plus they don't charge commission.

They have an MT4 platform but it doesn't cover the US Shares. Only UK Shares. Only there online platform allows you to trade the US Shares.

Let me know how you get on.

Pip Singh

If you're serious about trading US stocks, open an account with one of the US brokers such as ThinkOrSwim (TD Ameritrade) or InteractiveBrokers. Think you need about 5-10k to open an account, and 25kUSD to avoid the pattern day trader rule. I have accounts at both. IB have access to more markets, but TOS has a much better platform and charting.

When you trade at one of those brokers, you're actually trading stocks on the exchange. So the spreads will be dependent on the exchange, not the broker.

The problem with trading stocks/indices using CFD's on a MT4 broker, is that you're not actually placing trades on an exchange. The CFD is created by a market maker, so the liquidity, execution and spreads are no where near as good as if you where trading the actual stock on a real exchange. And when market makers get involved, all sorts of manipulation takes place and there's potential for trades to be reversed etc.

As an example AAPL might have a real spread of say 20 cents, and the corresponding CFD might have a spread of 40 to 60 cents. Plus holding CFD's for more than a day incurred steep swap charges.

The advantage of CFD's is that they generally offer more leverage (1:20) compared to 1:4 if you trade big caps on brokers, and you're not subject to the pattern day trader rule. But you can get more leverage trading weekly options on the larger caps.

I try to stay away from MT4 brokers. They're generally very small and shady.

Maybe FXPro or On financial provides it..

I have a spread trading account with GKFX and they offer some S&P stocks, I think about 160 altogether.
They are UK based and registered.
I don't trade US stocks so I have no idea how competitve their quotes and spreads are
They have normal accounts as well as spread trading.