Interactive Investor

Fee-free US shares trading offer

12th July 2021 15:03

Jemma Jackson from interactive investor

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To coincide with the start of the second quarter US earnings season, interactive investor announces a five-day special offer.

The second quarter US earnings season gets under way this week, with reports from JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC) and other banking institutions.

To coincide with the start of a new earnings season, interactive investor has announced a five-day trading fee-free offer* for US shares only to new and existing customers.

The offer applies to US stocks bought and sold on the ii website and mobile app between 2.30pm BST (when the major US stock exchanges open) on Monday 12 July until 9pm Friday 16 July 2021.

Traditional US heavyweight stocks such as Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) all feature on the list of bestselling US stocks on interactive investor, the UK’s second-largest DIY investment platform, in the first half of the year.

But they also had the so-called meme stocks kicking at their heels, with GameStop (NYSE:GME) and AMC Entertainment Holdings (NYSE:AMC) in second and third positions, respectively.

Tesla (NASDAQ:TSLA) ranks highest in first position, but NIO (NYSE:NIO), which designs and develops smart, high-​performance electric vehicles, is arguably closing in, ranking in fifth place.

Richard Hunter, Head of Markets, interactive investor, says: “Q1 results were exceptional, with an estimated 90% of US companies comfortably beating expectations. Having had another three months to return to some kind of normality, and with some predicting the strongest growth rate since the tail end of the great financial crisis in 2009, there is perhaps more scope for disappointment rather than positive surprise. 

“Indeed, by some estimates, earnings could be more than 62% higher than the same quarter in 2020.

“The technology sector will be an interesting test of this optimism. Despite some recent share price difficulties resulting from a switch out of growth and into value stocks based on inflationary fears, the Nasdaq has not only regained its ground but has also pushed to new record levels. 

“With expectations also rising for economic growth (according to FactSet Economic Estimates, 13.1% year-on-year growth is now expected for the second quarter, revised up from 11.7% at the end of March), this could be a quarter where companies hit peak earnings, given the tailwinds in place.

“In addition, rising commodity prices are also resulting in higher earnings estimate in the oil sector, for example, where the price rose 24% in the second quarter.

“These factors have led to an unusual situation, whereby around 66 companies within the S&P 500 have issued positive earnings guidance, that is their estimates are higher than analyst forecasts. The opposite would usually be true, as companies manage down expectations in an effort to outperform when the results are released. This in itself should be a positive sign.

On banks, Richard Hunter says: “As is normally the case, the banks will kick off the quarterly reporting season. The banks could benefit from further releases of impairment (bad loan) provisions, which could in turn have positive implications for the UK banks, who report around the end of this month.

“Overall, with the major indices at or around record highs, buoyed by government and Federal Reserve stimulus, companies will be pushed to meet high expectations.

“This in turn will determine whether investors consider that this escalating growth can be maintained, or whether share prices are now actually up with events.”

Most-bought US equities on interactive investor from 1 January – 9 July 2021

Notes to editors

Trading fee-free US trading terms and conditions

  1. A trading fee of £0 (the “Offer”) is applicable to all buy and sell orders of US equities placed via the ii website and using the interactive investor mobile apps. Orders must be executed between 2.30pm (BST) on 12 July 2021 and 9pm (BST) on 16 July 2021 (the “Offer Period”) in order to be eligible for the Offer. For the avoidance of any doubt, any orders placed within the Offer Period but not executed until after the Offer Period has ended will not be eligible for this Offer.
  2. The Offer is open to new and existing customers.
  3. Before you can buy US-listed shares, you need to complete the relevant IRS W-8 form. If you are a UK resident and your account is in your individual name you can complete the form online. We cannot guarantee that the process of either opening a new account and/or enabling the account for international share dealing will be completed before the Offer closes.
  4. These terms and conditions should be read in conjunction with the Interactive Investor Services Limited (“IISL”) Terms of Service and the ii SIPP Terms (together, the “Terms of Service”). In the event of a conflict between these terms and conditions and the Terms of Service, these terms shall prevail.
  5. After the Offer has ended, the trading fee you will be required to pay will be as set out in our Rates and Charges.
  6. Orders placed via telephone dealing are not included in this Offer and will be subject to the charge set out in our Rates and Charges.
  7. All other fees, for example foreign exchange rates for currency conversion and Government charges, are not subject to this Offer and shall continue to apply notwithstanding.
  8. Anyone who is seen to be abusing the offer may be excluded at our sole discretion.
  9. We reserve the right to alter, withdraw or amend this Offer and/or these terms and conditions at any time without prior notice.
  10. All participants to this Offer agree to be bound by these terms and conditions.
  11. IISL is the promoter of this offer. The registered office for IISL is 201 Deansgate, Manchester, M3 3NW.

These articles are provided for information purposes only.  Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties.  The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.

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