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About This Club

A club for BBT members where we focus on trading the US stock market from the United Kingdom. You don't have to be British to join, all welcome :) This is a place for members to learn more about what it's like trading the US stock market from the UK, as well as tips and tricks to help one another. We can talk about subjects ranging from trading itself, to taxation, and even the weather (because we are British and we love talking about the weather!). Join us, the more the merrier :)

  1. What's new in this club
  2. I'm in the states, but it took a looooooooooooooonggggg time for my funds to be available after the day I initiated the transfer from my bank account. At least 1 week, might have been 2. - Jeff
  3. Just wondering if anyone else has experienced issues making cash deposits to their IBKR account? I made my first cash deposit on the 3rd Jan via wire transfer from my HSBC account and I'm still waiting for the funds to show in my account. I called them up this morning and was put through to an Indian call centre which wasn't much help as they just advised me to raise a ticket via the online portal. Has anyone else experienced delays with this? In your experience how long doesn't it take to fund your account from a UK bank? Would be interesting to hear what your experience has been
  4. Hi everyone, New member here based in the Midlands UK. Are there any active traders in the group that are happy to share what brokers & accounts they use for trading US & also European stocks? BBT traders seem to go down the IBKR route but I'm just wondering if that's also the best route to go down if you are based in the UK. Cheers! Alex.
  5. Hi everyone, I'm a bit late to the party but I've only recently begun trying to meet other traders. My names Andrew and I'm an economics undergraduate working and living in London, and I've been trading on the DAS simulator for the past 4 months and watching the chat room for about 6, after naively trying to make it big on etoro, and then reading Andrew's book and realising that I really needed to devote myself to getting an education on day trading before I lost all my money. I've almost exclusively been trading and trying to master the ABCD pattern on the simulator on mid cap NYSE stocks ($10+) in the first 90mins of trading hours, but I've been having mixed results. I've also been logging my trades to keep track of my progress and try to identify whats working and what I could be doing better. I was wondering if perhaps there was a group chat I could join, or anyone looking for a trading buddy to share advice on trades with. Also since it's been a while since this topic was made, I'd be interested to hear how all your trading has been going for the past 6 months. Andrew
  6. Hi all! I have been trading in SIM for a few months. However, I will be transitioning to Live trading soon. I have a funded IBKR account and I am looking into the commission fees. Do we have to pay a 0,05% commission of the trade value? Can we not pay by the number of shares we take like in the U.S? For example if someone buys 50 shares of AAPL at $150 per share. IBKR (UK) - 50*$150=$7500 -- Which 0.05% off is $3.75 IBKR (US) - 50 shares * $0.0035=$0.175 -- So it doesn't even get up to the minimum, which is $0.35 per order. Are we paying $3.75 for this order, while people in the US are paying $0.35 for it? Or am I completely misunderstanding the commission structure?
  7. Hey krooto -- thanks for the update . Good to know I have reached out these guys in the US; they are focused on traders: https://greentradertax.com/ . I went down this root becuase my Bristol based accountant wasnt and they were ensisted I should talk with a US accountant.
  8. Hey @naptof330, I emailed them and called them a couple times, and unfortunately didn't hear a single word from them. For me, this caused alarm bells to ring and so I decided that I would steer clear of them, as there is nothing worse than a service that is ill provided, particularly when there could be severe repercussions. My experience might be isolated and as such, perhaps try them for yourself and see what happens. In the end, I stayed with my current accountant and asked them to do the research for me. My accountant is just a small (2 branches, I think), midlands based accountancy firm that deal with small/average local businesses and self-employed people, so nothing special. They charged me somewhere around £500 (I can't remember the exact figure), and they contacted a 'specialist' to advise them on my situation. All it boiled down to really was just filling out the US tax form correctly and having it checked by someone in the know. As always though, please do your own research! Hope that helps
  9. Hi there. I have found this on the internet. This is not a recomendation, instead I am wondering if anybody here have worked with them? https://www.accountantsfortraders.co.uk/
  10. Thank you for your response @krooto I will look forward to hearing back from your search. Keep safe and let the green days roll! Cristhian
  11. Hey guys, Happy new year, I hope that you are all doing well Just a quick update regarding trading from the UK as a limited company. I have asked my tax accountant to look into this, and unfortunately the situation is that they are moving at a snail's pace. This is because of the 31st Jan deadline for self-assessment, so they have a large backlog and my query appears to have slipped to the bottom of the pile. As soon as I get a response, I will update you all! In the meantime, stay green! Kind regards, Krooto
  12. Hey Cristhian, Nice to meet you and good luck on your day trading journey! Sorry for the late reply, I've had a very busy past few weeks so haven't been on here as much as I would've liked. Welcome to our group, and I'm sure that once this pandemic is over, we will all be itching to get out and have a meetup! Krooto
  13. Those questions you oped there are very interesting, I am afraid I haven't got the answers for them, though if you found out for yourself I would really appreciate if you could share that information with us too. Thank you @krooto! Cristhian Arce
  14. Hey guys! I am Cristhian, I work and live in London, just got started on my trading career, I read Andrews's book "How to day trade for a living" witch I loved and really got me exited about learning all about day trading. Its comforting to know that there are other traders in the UK, for a moment I even wondered if it was possible, as I don't know yet how easy is the process to activate your trading account with a broker from here, how to deal with taxes, etc... I would be happy to have a meet up in central London once this pandemic and the restrictions are over here. Cristhian Arce
  15. No problem, thanks for creating this group. Yeah I had the same problem with small caps, too volatile for me at the moment. I am mostly trading in sim as well with a few live trades here and there. How long have you been studying? I about 7 months in now. Dexter
  16. @Dexter177 Thanks for kicking this off! Been meaning to get round to it but have been super busy! I am also from London area and started this year. I've had some bad experience with mid cap stocks (more-so towards the smaller end), so i try to stick to larger mid caps, and large caps with values of $10+. Not yet live, been in the sim for a good four months, and in no rush to move live as would like to meet a few personal criteria before then. In an ideal world, I would be live come Feb time, but we'll see how it goes! Krooto
  17. Hey guys, I'm starting this thread to learn a bit more from people that have experience (or knowledge) about trading US stocks from the UK via a limited company. Obviously, anyone visiting this thread should get advice from an accountant before actioning anything that they have learnt on here. This thread is just a place to share knowledge and experience. I have very little knowledge about tax, and would like to hear some of your views. My broker is CMEG (Trinidad and Tobago), and I trade the US stock market. Is there anything that I should be aware of if I plan to trade using this setup via a limited liability company? Will I have to pay US tax? Will I have to pay T&T tax? Are there extra forms that I have to fill out for HMRC because of this setup? Is it even financially advantageous to trade using this setup? Or is it better to just trade as an individual? I will be asking my accountant over the next few days so will post anything that I learn. Thanks in advance!
  18. Hello everyone, I am from London and trade on the NYSE I started out trading small caps but now have moved to trading mid cap stocks. I just started trading this year due to the pandemic to get some extra income. Where abouts is everyone from and how long have you all been trading? Dexter
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