International Trading
Which non-UK markets can I trade on?
With Halifax Share Dealing you can trade more than just UK listed shares...
| Five Key Benefits of International Trading with Halifax Share Dealing |
| 1. Deal online or over the telephone - access your account online 24/7, 365 days a year or by telephoning our UK based call centre (lines are open 8am- 9.15pm Monday to Friday and 9am-1pm Saturday excluding English Bank Holidays) |
| 2. Highly competitive international dealing charges - trade online or over the phone for only £11.95 commission |
| 3. Deal on international stock exchanges in sterling - all deals are converted into sterling using the latest Foreign Exchange (FX) rate for your convenience |
| 4. No stamp duty to pay when trading on foreign markets |
| 5. View your UK and international investments through a single account |
International Markets you can trade on with Halifax Share Dealing
| Stock Exchange | Local Times | UK Times |
| New York (NYSE, NASDAQ, NYSEAmex) | 09:30 - 16:00 | 14:30 - 21:00 |
| Frankfurt (XETRA) | 09:00 - 17:30 | 08:00 - 16:30 |
| Milan (MTA) | 09:00 - 17:25 | 08:00 - 16:25 |
| Paris (Euronext) | 09:00 - 17:30 | 08:00 - 16:30 |
| Amsterdam (Euronext) | 09:00 - 17:30 | 08:00 - 16:30 |
| Brussels (Euronext) | 09:00 - 17:30 | 08:00 - 16:30 |
During the change between Greenwich Mean Time and British Summer Time our opening hours may not match those of foreign markets.
Please note
Foreign currency conversions are required to facilitate the settlement of international transactions. We apply a charge of 1% either side of the available exchange rate when buying and selling international securities. The available exchange rate is based on the exchange rate provided by Digital Look. Indicative exchange rates are provided prior to trading, and the rate applicable to the individual trade is confirmed on the contract note once the deal has been completed.
What is Withholding Tax?
This is a tax which is levied on dividends, interest distributions and increasingly on other types of corporate actions initiated by the foreign company. It is deducted at source and paid to the government of the country in which your shares are listed. For example, U.S. dividends currently have 30% Withholding Tax deducted. The amount of Withholding Tax is therefore likely to affect the value of any returns you might expect from foreign investments.
If you have traded international shares with us you can view how much Withholding Tax you have paid on your Consolidated Tax Certificate. This is available to view online, or, if you are not registered online we will have sent one to you by post after the end of the tax year.
The Internal Revenue Service (IRS) provide the W-8BEN form which allows non-US citizens to receive a reduced rate of taxation on any income (such as dividends and interest) sourced in the US. You would need to contact the IRS for more information on the W-8BEN form as we do not file these on your behalf.
Further information can be obtained from the DirectGov website.
Risks of Investing in international Markets
Foreign markets will involve different risks to UK markets. In some cases the risks will be greater.
| Culture | Language and cultural differences between the UK and foreign markets may mean that there is a lack of information, or difficulty in obtaining information you may consider important to your trading decisions. |
|---|---|
| Currency Risks | When trading on foreign markets or in foreign denominated contracts, the potential profit or loss arising from such transactions can be affected by fluctuations in foreign exchange rates. |
| Economy and Politics | General economic and political factors such as the inflation or fluctuations in interest rates within the UK may impact overseas markets. In addition, there may be no correlation between the general economic outlook and the market conditions within the UK as compared to foreign markets. These may be less or more favourable. |
| Emerging Markets | Emerging markets tend to be less developed than the UK model and this can lead to greater volatility in securities pricing. This can mean the value of your investments may quickly change. |
| Shareholder Rights | As a shareholder who is resident in a different jurisdiction to that of the company you're invested in, you may find that you're excluded from certain shareholder rights and benefits. For example, the ability to participate in corporate events, such as Rights Issues. This means that you might not receive the same treatment as other shareholders and you could suffer economic losses as a result. |
| Taxation |
Tax laws in other countries are different to those in the UK. In many countries the local tax authorities will withhold an amount of tax which exceeds the rate which would apply in the UK. In particular it's worth remembering that ISAs and SIPPs will only shelter you from UK tax. The treatment of tax is therefore likely to affect the value of and any returns you might expect from foreign investments. |
| Trading and Settlement | Trading volumes in foreign markets can be smaller than those in the UK. This can mean that reduced liquidity in overseas markets makes it more difficult to sell shares you have bought. Delays in settlement may also occur. |
Which accounts can I hold foreign listed stocks?
Share Dealing Account - buy and sell international shares in our easy to use account
Self Select Stocks & Shares ISA - trade selected foreign stocks in a tax efficient ISA.
(ISA eligibility of a foreign stock can be found on our Market Research Centre)
SIPP - Take control of your pension and invest in international stocks for your retirement
Next Steps
Apply Now for an account
Transfer in your investments from another broker to Halifax Share Dealing
Research the performance of shares on the
Dow Jones I.A (US)
NASDAQ (US)
Xetra DAX (Germany)
MIBTEL (Italy)
BEL 20 (Belgium)
IT CAC (France)
AEX (Netherlands)
