dominoman

Back in the UK I put my savings into Hargreaves Lansdown and buy shares and investment trusts from there.

Can anyone recommend one here in UAE?

Now that I'm here in the UAE I continue to send money home and invest it through Hargreaves Lansdown. But the downside is it means the whole lot is subject to UK taxation. So I'd rather use an offshore share dealing account for my savings now (I'm not intending to move what's already invested of course. Too much expense and hassle).

I've done a bit of googling but the ones I found don't allow me to buy and sell individual stocks, only funds.

Where should I look? I'm not interested in financial advice or a "wealth manager", only in an account I can manage myself.

Thanks!

scrubbedexpat141

Lloyds eventually caught up with my UK share dealing account. Now I can only sell them by phone, can't buy. Which is incredibly frustrating.

I've looked at a few and whatnot, spoke to one company but it was a bit of a hassle and a faff. Interested to hear if anyone has been more successful as I'm in the same position as you.

Brains1983

if you are on facebook, then have a look for the SimplyFI group. there's a few recommendations for Interactive Brokers, with some detailed reviews. The only other name I see regularly is swissquote.

I'm still with HL for the time being, will change over some time this year.

Millhouse

Mubasher innit

scrubbedexpat141

Expensive though isn't it, 30 quid a trade on UK stocks?

Millhouse

That’s what happens when you go offshore. I don’t use them though.

scrubbedexpat141

Guess so.

Seem to be about the only option

frequentflyer1234

Interactive Brokers are the cheapest by far with an easy to use platform.

Internaxx have a simple platform but cost a bit more, also they give multiple currency accounts all under 1 master account which can be useful.

Swissquote look very expensive.

Saxo I think are ok.

DeGiro are apparently ok too.


I use the first 2 and really can’t complain.

If you’re going to go it alone then I’d recommend at least reading Andrew Hallam’s book. Millionaire Expat. For further reading there’s loads of info on the bogleheads.org forum.

csdf

I also use Internaxx. Been fine so far (apart from the ballache of having to prove a residential address when you first open the account).

UKCityGent

Ive used IB since 2004 - always returned to it


Its the best commission available, slippage is almost non consideration (unless it is close to news time). The platform does feel like a Tonka toy but I have it linked to other packages (Amibroker for stocks and MT4 for FX).

dominoman

Great advice! Thanks all. So glad I asked.

I will take a look at IB and Internaxx for now. I like the idea of having multicurrency as I'm earning in dollar-pegged AED and am waiting for the pound to weaken before I transfer money home.

IB do seem very cheap. 6 GBP to trade UK equities. A 10 USD / month maintenance fee against which commission is automatically offset.