Hi there all,
I have a qestion that i hope you can awnser for me, If i open a new ISA stocks and shares account on a different provider. And cancel my isa on freetrade.(not 100% decided yet) what happens to my stocks in freetrade account?
Do i have to sell them or keep them in freetrade account and leave it accumulate over time.
Thanks in advance fellow investors
Im siure your stocks stay in the isa but if you ever need to acess them again youll have to pay all the months since you canceled it
You can keep your FreeTrade ISA open but can’t contribute to more than one stocks and shares ISA per year. So if you wanted to open an ISA with a different provider next year and keep the FreeTrade one, you could but I’m sure you would still have to keep paying the monthly fee.
If you did that then you could keep re-investing any dividends that you received and you could still sell existing stocks and then buy more from those proceeds. What you couldn’t do simply is contribute new funds.
OR, you could transfer the funds you have into a new provider and close the FreeTrade one. However, unless the new provider supports in specie transfers, you’d have to sell all the stocks and transfer the cash amount.
If you cancel your ISA then your stocks have to be sold or transferred. Section 6.2 in the T&C’s
Lee please don’t post things you ‘think’ are right it really doesn’t help the people asking questions on the forum.
mate calm it i said think. No issues with that the issue would be it defiantly. So get off your high horse lad
You said ‘I’m sure’. No high horse at all, maybe keep off the forum when you’re in the pub??
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