London stock exchange question

Discussion in 'Stocks' started by gimp570, Apr 23, 2010.

  1. gimp570


    London stock exchange

    Roughly how much is a stock that trades on the LSE worth in USD that trades at 850.00 (or 1000 for a easier example) on the London stock exchange.

    Also i have heard about this .05% purchase tax. Is this true? So if i bought $100,000 how much would this tax be?


    This is for purchases only?

    Has anyone had any experience trading the LSE with IB? Is it worth it?

    thanks for any help

  2. 850.00= 850 "pence" (British version of cents)

    = $13.07 (USD) per share.

    100 shares=$1,307.00

    With regard to tax, it depends where you trade.
    With IB, yes taxable at .005*trade value

    If you trade at a UK prop shop or exchange member, then no tax.
  3. how come if u trade at a prop shop then no stamp duty? using cfd's?
  4. henry76


    A lot of ftse 100 shares are also listed on nyse , and therefore don't incur stamp duty, and can be traded through ib .
  5. CFD but the prices match LSE at all times, so no difference. Same order entry platforms as stocks.

    Not available to US traders, though.

    US gov rule to "protect" US citizens.