Or, to be more precise, it has introduced a range of 30 blue-chip US stocks that can be traded using the Dodl App.
What US stocks can you trade using Dodl?
The list includes internet and technology giants such as Amazon and Alphabet, the owner of Google, as well as old economy names such as 3M, Visa and Coca-Cola. There are many consumer-facing stocks such as Disney, Mcdonald’s and Starbucks, and pharmaceuticals Pfizer and Moderna.
Dodl users will be able to trade and invest in these stocks paying dealing fees of just 0.15%, though there will also be a 0.75% FX charge, as you will be dealing in US dollars and not pounds sterling.
Which account types can trade US stocks using the Dodl App?
All of Dodl’s account types will be able to access US share trading, be they ISAs, Pensions, or General Investing Accounts or GIAs.
The 30 US stocks join a range of UK shares that are drawn from 9 different sectors, as well as a series of specially selected funds, run by AJ Bell, and themed investments that cater for various risk appetites and geographies. Dodl also allows you to save and invest regular monthly amounts, via a direct debit, starting at just £25.00.
Has Dodl made any other changes?
Dodl has made some changes to its terms and conditions for example the daily order cut-off time has been moved to 3.00 pm from11.00 am to accommodate US trading.
Dodl aggregates its trades combining customer orders together into larger transactions and then polls the market for quotations, using electronic order management systems and RSPs.
Dodl clients who want to deal in US stocks will also need to complete form W-8BEN from the US Dept of the Treasury, which clarifies their US tax status if any. Though we note that pension accounts are exempt from this form.
The platform’s website advises that you read through the new T&Cs to refresh your understanding of them, even if you are an existing user.
The new offering from Dodl isn’t going to set the world on fire, in terms of its coverage or its charging structure, but it shows the direction of travel for the App, and we would expect the list of US shares available to grow over time, and for stocks from other jurisdictions, such as Europe to be added to the App in due course.