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TonyTax
TonyTax, Tax Consultant
Category: Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I want to know, how many stock trading accounts one

Customer Question

Hello. I want to know, how many stock trading accounts one UK national could have in the same time? For instance, I have already opened one stock trading account in one broker, which does not offer any trading for foreign currency or spread betting. Now, I want to do some foreign currency trading or spread betting, could I open a new account in a new broker, while keeping the account I already have?
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.

Hi.

There isn't a great deal of detail to be had I'm afraid. There is no government limit to the number of trading accounts that you can have in the UK as the companies involved are always after new accounts but some may ask if you have any accounts already and possibly do credit checks.

I hope this helps but let me know if you have any further questions.

TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15763
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
TonyTax and 2 other Tax Specialists are ready to help you
Customer: replied 1 year ago.

Thank you for your quick reply, and I have gave you an excellent mark.

Just one minor question following. If I apply for a new trading account in a new trading platform/broker, and then get this new account. Do I need make sure, these two accounts are dealing with totally different tradings?

I will use my existing old account to do some long-term investment and holding for large FTSE companies shares.

I want to use a new account (if I have) to do some a bit risky but smaller investment, like CFDs, forex trading and spread betting.

These two accounts are totally independent in two different brokers/trading platforms.

Does this sound OK for an accountant?

Many thanks.

Nick

Expert:  TonyTax replied 1 year ago.
There are no limits on the number of similar trading accounts that you can have. So, if both allowed FTSE company trading that's fine. If you have more than one spread betting account, that's fine too.

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