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Which account types support opening an MEXEM UK Stocks and Shares ISA?
To open a MEXEM UK Stocks and Shares ISA, you must use a GBP-denominated cash account.
A cash account means that:
1. All trades must be fully funded with available cash
2. You can only hold long positions (i.e. no short selling or margin trading)
This is in line with HMRC ISA regulations, which require that ISA accounts cannot use leverage or margin, and must be cash-funded.
Only GBP accounts are eligible for ISA use. Foreign currency accounts or margin accounts are not permitted within an ISA wrapper under UK tax rules.
