IBKR announces promotional offer as UK expands ISA regime and share ownership

Rick Steves

The company has announced a promotional offer for eligible UK residents. Those opening Stocks and Shares ISAs through Interactive Brokers could receive a commission credit of £55.

UK Finance Minister Jeremy Hunt is planning a significant overhaul of the Individual Savings Accounts (ISA) regime. This move is part of a broader effort to encourage greater share ownership among the public. The key elements of this overhaul include:

Streamlining the Tax-Free Savings Regime: The goal is to make it easier for individuals to invest in UK companies. By simplifying the process, the government aims to incentivize more people to utilize ISAs for their investments​​.

Changing Rules Around Fractional Shares and Long-Term Asset Funds: In his Autumn Statement, Hunt outlined plans to modify the regulations governing fractional shares and long-term asset funds. This is expected to make ISAs more flexible and appealing for a wider range of investments​​.

Introduction of Additional ISA Allowance for Investing in UK Companies: One of the more radical options being considered is to introduce an extra allowance specifically for investments in UK-based companies. This would be in addition to the existing ISA allowances and is designed to encourage investment in domestic enterprises​​.

Enabling Cash Savings and Stock Investments Without Tax on Interest or Capital Gains: ISAs allow individuals to hold savings and investments without the burden of paying tax on interest or capital gains. This feature of ISAs, encompassing both cash ISAs and stocks and shares ISAs, is a significant incentive for individuals to save and invest through these accounts​​.

This comprehensive overhaul of the ISA regime represents the UK government’s commitment to boosting personal investment in the stock market and supporting the growth of UK companies. By making ISAs more accessible and versatile, the government aims to stimulate wider participation in the financial markets, aligning with broader economic goals.

IBKR announces promotional offer for eligible UK residents

Interactive Brokers (U.K.) Limited has taken the opportunity to reaffirm its commitment to offering cost-effective Individual Savings Accounts (ISAs) to UK investors.

The company has announced a promotional offer for eligible UK residents. Those opening Stocks and Shares ISAs through Interactive Brokers could receive a commission credit of £55. This offer is subject to specific terms and conditions.

Interactive Brokers’ Stocks and Shares ISA offering, launched over a year ago, caters to globally-minded investors. The firm is known for its broad range of global products, professional pricing, and advanced trading platforms. These features are particularly beneficial for UK investors seeking international market access for portfolio diversification and risk mitigation.

Interactive Brokers’ ISA offers several advantages. There are no custody or transfer fees and competitive commission rates. Commissions start from £3/€3 per trade for UK and most European stocks, and from USD 0.005 per share for US stocks. For larger trades, the cost is 0.05% of the trade value. The platform also features low currency conversion fees and a wide range of global market instruments. These are accessible via an intuitive smartphone app and mobile and desktop trading platforms. A minimal monthly activity fee of £3 is applicable. The eligible assets are protected under the US Securities Investor Protection Corporation up to USD 500,000, with a cash sub-limit of USD 250,000.

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