How To Not Pay Stamp Duty On UK Shares
What if I told you there was a way to save money every time you purchase UK shares.
Ever bought some shares on the “commission-free” platforms such as Trading 212 and FreeTrade but still had to pay Stamp Duty on the purchase?
This is because if you buy UK shares electronically aka over the internet a 0.5% fee is charged by our lovely government. Note the free trading platforms do not see any profits from this charge.
However, eToro absorbs this fee. Yeah, they foot the bill on this one!
Very nice of them indeed.
You see eToro is very unique, not only do they offer the usual stocks, ETFs etc. They also allow you to buy cryptocurrencies such as Bitcoin all under one roof.
I am pretty new to the platform but I am liking what I see! Its all very nicely laid out.
Amazingly they also have a “practice” portfolio where you can play around with fake money to get comfortable. Trading 212 also has this (they are still not accepting new signs ups though!) and I think it’s an awesome feature.
Perhaps the most unique feature that eToro offer is the “Copy Trade” this is so different and not something I have seen before. I have yet to test it for real but intend to very soon as it seriously intrigues me!
I shall be updating this post as I learn more and find my way around the platform. Just note there are no trading fees, no account fees and for UK shares no Stamp Duty. There are FX fees as there are on every other platform though.