New to investing but would like to know peoples thoughts on having to pay 0.5% stamp duty on British stocks, this 0.5% levy makes day trading and swing trading geared against an investor to get a return on their investment and ultimately has a detrimental effect for the potential of investors day trading and swing trading for regular intervals and volumes
That’s one of the purposes of derivatives like CFDs and spreadbetting. No stamp duty on those, but incur their own costs.
Another alternative would be american stocks but your having to trade with a forex variable as well then
I believe you don’t pay stamp on AIM stocks, but they are higher risk as they have less reporting requirements.
Thanks for the info i’ll bear this in mind for future reference