Yes — and the account you pick matters more than the stock
UK residents can buy shares listed on the NYSE and Nasdaq through any FCA-regulated broker that offers US markets. You do not need a US bank account or a US address. What changes from buying a UK share is the paperwork (a W-8BEN form), the currency conversion, the trading hours and, for some products, what you are allowed to buy at all.
Five FCA-regulated brokers that give you the real share
These brokers are authorised by the FCA and sell you the actual US share rather than a derivative of it:
| Broker | Minimum deposit | How US trades are priced |
|---|---|---|
| Interactive Brokers | None | IBKR Lite offers $0 commission on US listed stocks and ETFs for eligible clients; IBKR Pro is tiered/fixed per-share pricing. |
| IG | None | US share dealing commission is reduced or waived above a monthly trade count in supported regions; CFD costs are separate. |
| Trading 212 | $1 | No commission on real stock investing; an FX conversion fee applies to non-base-currency trades. |
| Saxo | None | Tiered commission on US shares that falls with account level; custody fees apply in some jurisdictions. |
| eToro | $50 | $0 commission on real stock investing in most regions; currency conversion and withdrawal fees apply. |
Notice the pattern: commission on US shares is now low or zero almost everywhere, so the cost that actually separates these brokers for a UK investor is the pound-to-dollar conversion. A broker charging no commission but a conversion fee on every trade can cost more than one charging a small commission with a cheaper rate. If you trade US shares regularly, a broker that lets you hold a US dollar balance saves you converting twice.
The W-8BEN: 15% instead of 30% on US dividends
Before your first US trade, your broker will ask you to complete a W-8BEN, usually as an online form. It certifies that you are not a US person and claims the US–UK tax treaty rate. With it, US dividends are withheld at 15%; without it, the default is 30%. It lasts until the end of the third calendar year after you sign it. What the W-8BEN form does, and the rate in every country we cover.
The US does not tax capital gains for UK residents, so the W-8BEN only affects dividends. Gains are taxed in the UK in the normal way, unless the shares sit inside an ISA or a pension.
Can you hold US shares in an ISA or SIPP?
Yes. Shares listed on a recognised stock exchange — which includes the NYSE and Nasdaq — can be held in a stocks and shares ISA or a SIPP, so gains and UK tax on dividends inside the wrapper are sheltered. The US withholding on dividends is not reclaimable inside an ISA; the 15% is still deducted at source. Dividends paid into a UK registered pension can qualify for a lower US rate under the treaty's pension provisions, but whether your provider claims it varies, so ask before assuming it. Not every broker in the table offers an ISA or SIPP wrapper; check before you open the account, because moving shares into a wrapper later means selling and rebuying.
Three things that surprise UK buyers
- Most US-listed ETFs are off-limits. UK rules require a key information document that most US fund issuers do not publish, so brokers block UK retail investors from buying ETFs like the US-listed S&P 500 trackers. UK-listed versions of the same indices are the usual substitute. Individual US shares are not affected.
- No stamp duty. The 0.5% stamp duty you pay on UK shares does not apply to US shares, and the US has no equivalent.
- The market opens at 14:30 UK time. Regular US trading runs 14:30 to 21:00 UK time for most of the year. For a few weeks each spring and autumn, when the two countries change their clocks on different dates, it runs an hour earlier. Orders placed in the morning wait for the open, often at a very different price — use a limit order. Limit vs market orders.
If you want to trade the price instead: CFDs and spread betting
Some UK traders use CFDs or spread bets on US shares instead of buying them. You never own the share and there is no dividend, but you can go short and use leverage. Spread betting profits are generally free of UK Capital Gains Tax and stamp duty for individuals — which is why it exists as a UK product — though HMRC can treat it differently if trading is your main income. Two of our partners offer both products to UK residents:
CFD — no ownership1,000+ US share CFDs, $10 minimum deposit, FCA-regulated.
Open a Pepperstone account
CFD — no ownership3,000+ share CFDs across US and global exchanges, $20 minimum, FCA-regulated.
Open a Capital.com accountStep by step
- Decide whether you want to own the share (a share-dealing account, ISA or SIPP) or trade its price (CFD or spread bet).
- Open an account with an FCA-regulated broker offering US markets, and check whether it offers the ISA or SIPP wrapper you want.
- Complete the W-8BEN when prompted so dividends are withheld at 15%.
- Fund in pounds, and check the conversion fee — or hold a dollar balance if the broker allows it.
- Place a limit order, ideally during US hours (from 14:30 UK time).