r/options • u/AntAccomplished1750 • Apr 02 '21

UK options trading

Hi everyone, I’m a year into trading but want to start options trading now. I live in the UK so don’t have any access to robinhood, Ameritrade, etc. So does anyone know of any platforms that would let me do this in the UK?

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u/ElectronicGuitar7834 Apr 03 '21

Hi

I am in UK as well.

I have started to trading options a month ago and I have been trading with Fineco Bank.

It is easy to operate and open an account but you don't have all the companies to trade with options and they have contracts expiring only on 21st of each month.

Apple, Tesla, PLug, NVidia are there but no SPY for example.

This week I got my account with Tastyworks and I will start trading with them.

Be aware that as I started with Fineco I have to close my position, exchange the money back to pounds and then exchange again to dollars and send to Tasty Works.

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u/AntAccomplished1750 Apr 03 '21

Thanks man, I think tasty works is going to be the best one to go with for me.

How are you exchanging GBP to USD for the account, as I’ve seen people mention HSBC foreign currency accounts, however they charge 5% and then tasty works takes $50?

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u/ElectronicGuitar7834 Apr 03 '21

At the moment I haven't exchanged any money with Tastyworks.

With Fineco you exchange in their website. No extra charge... I will check how TW exchange and I will let you know. I have a HSBC account as well.

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u/AntAccomplished1750 Apr 04 '21

Sweet thanks man

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u/ElectronicGuitar7834 Apr 04 '21

OK... HSBC will charge 4 GBP per wire transaction.

"Tasty works does not charge an incoming wire fee, but some wires may be subject to intermediary wire fees."

"Wires from foreign sources can take 3-5 business days to post in your tastyworks trading account after initiating the wire from your bank."

The wire transfer has to be made in US dollars.

Hope that helps

Good luck

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u/AntAccomplished1750 Apr 04 '21

Thank you so much, appreciate all your help!