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Customer registration department
Halifax Share Dealing Limited
12 Wellington Place
Leeds
LS1 4AP
Dealing on foreign markets will involve different risks from UK markets - in some cases the risks may be greater. Remember that the value of investments and the income from them can fall as well as rise, and you may get back less than you invest. If you’re not sure about investing, seek financial advice.
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 |
Any potential profit or loss from your trade in foreign markets may be affected by fluctuations in foreign exchange rates. |
Economy and politics |
Economic or political factors such as inflation or interest rate fluctuations in the UK could affect overseas markets. The general economic outlook and market conditions may differ considerably between the UK and foreign markets causing them to be less – or more – favourable. |
Emerging markets |
Emerging markets tend to be less developed than in the UK leading to greater volatility in securities pricing. The value of your investments could, as a result, change quickly. |
Shareholder rights |
You may find, as a shareholder, you are excluded from some shareholder rights and benefits because you are resident in a different jurisdiction from that of the company you have invested in. An example would be participating in corporate events such as a Rights Issue. You may find you are not treated in the same way as other shareholders and could suffer losses as a result. |
Taxation |
Tax laws overseas differ from those in the UK. Tax authorities in many countries will take a larger amount of tax than they would in the UK because of higher rates. Remember that ISAs and SIPPs will only shelter you from UK tax. How tax is calculated abroad could therefore affect the value of, and returns from, any foreign investments. |
Trading and settlement |
Foreign markets may trade at a lower volume than in the UK and this reduced liquidity may make it more difficult to sell shares you have bought. It could also cause delays with settlement. |
Cost of shares - 10 x $100.00 |
$1,000.00 |
---|---|
Cost of shares in GBP - $1,000.00/1.52 |
£657.89 |
FX rate with FX charge added (1.25%) |
1.25% of 1.52 = 0.019 |
Cost of shares in GBP including FX charge |
$1,000/1.501=£666.22 |
FX cost: £666.22 - £657.89 |
£8.33 |
The final figure shown within the above table as the FX cost will be the fee taken by us for the $1,000 international trade at an exchange rate of 1.5200.
Stock exchange |
Local times |
UK times |
---|---|---|
Stock exchange New York (NYSE, NASDAQ, NYSEAmex) |
Local times 9.30 to 4pm |
UK times 2.30 to 9pm |
Stock exchange Frankfurt (XETRA) |
Local times 9 to 5.30pm |
UK times 8 to 4.30pm |
Stock exchange Milan (Euronext) |
Local times 9 to 5:25pm |
UK times 8 to 4.25pm |
Stock exchange Paris (Euronext) |
Local times 9 to 5.30pm |
UK times 8 to 4:30pm |
Stock exchange Amsterdam (Euronext) |
Local times 9 to 5.30pm |
UK times 8 to 4.30pm |
Stock exchange Brussels (Euronext) |
Local times 9 to 5.30pm |
UK times 8 to 4.30pm |
During the change between Greenwich Mean Time and British Summer Time our opening hours may not match those of foreign markets.
Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.