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.

  • Read this next

    Retail FX

    Weekly Roundup: FX prop firms switch to cTrader, who moved $1.35B BTC?

    The foreign exchange and cryptocurrency markets are always active, and this past week was no exception. Stay ahead with a selection of essential stories and updates that matter most to market participants.

    Digital Assets

    Bitcoin breaks all records with a massive $1.347 billion transaction

    This transaction has surpassed previous records, setting a new benchmark for Bitcoin trades. Before this event, the largest Bitcoin transactions included a $1.1 billion trade in April 2020 involving 161,500 BTC, and other significant transactions ranging from $491 million to $1.033 billion throughout 2019 and 2020.

    Digital Assets

    Uniswap debuts Ethereum ‘uni.eth’ subdomains

    Decentralized exchange platform Uniswap has integrated Ethereum Name Service (ENS), allowing users to create human-readable domain names and cryptocurrency wallet addresses using .eth endings.

    Web3

    Magic Square Expands with TruePNL Acquisition

    Binance’s web3 app store, Magic Square, acquired token platform TruePNL in a cash deal this week for an undisclosed sum. The deal brings TruePNL’s infrastructure (excluding branding & token) under Magic Square’s wing. Initially seeking a partnership, Magic Square opted for a full acquisition.

    Crypto Insider

    The Future of Prediction Markets? Zeitgeist Launches Decentralized Court System

    Polkadot-powered prediction market protocol Zeitgeist has announced the launch of its latest innovation: a decentralized court system.

    Digital Assets

    Crypto exchange Kraken fires back at SEC lawsuit, claiming overreach

    Crypto exchange Kraken is pushing back against the U.S. Securities and Exchange Commission (SEC), seeking to toss out a lawsuit that accused the platform of operating without proper registration.

    Industry News

    Exness Named a Best Place to Work in 2024

     Global leader Exness, tops in retail trading volume, earns 2024 “Best Place to Work” award, cementing its employee-centric culture after three prior years of winning the Cyprus national title.

    Digital Assets

    Swan Bitcoin taps Bakkt for crypto offering in the US

    “We are thrilled to be taking this exciting step forward in our partnership with Swan. This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”

    Digital Assets

    Polkadot Awards Bifrost a 500,000 DOT Loan to Enhance Liquid Staking Adoption

    Bifrost, a leader in liquid staking solutions, has secured a 500,000 DOT loan from Polkadot’s treasury to expand the reach and utility of its vDOT product within the ecosystem.

    <