Buy Palantir shares (PLTR) in the UK

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Table of Contents

You may have heard of Palantir and its growing Artificial Intelligence (AI) business, but how do you buy Palantir shares?

In this guide we’ll take you through how to buy Palantir stock in the UK – or Palantir Technologies Inc. (ticker: PLTR) to give it its full name – through a general investment account, an ISA, a SIPP and a LISA. We’ll also cover how to buy Palantir stock as fractional shares.

Table of Contents

What is Palantir?

Palantir is an American technology company, listed on the New York Stock Exchange (NYSE) in the US.

The company floated on the NYSE in September 2020 through a direct listing, meaning it didn’t issue new shares to the public. Instead, it allowed existing shareholders to sell more shares.

When it made its debut on the NYSE it was valued at around $20bn. At the time of writing, Palantir’s market capitalisation (the combined value of all Palantir shares) is $48 billion. 

Historically, Palantir was well-known for its big data analytics and its association with US military and federal agency contracts for its software.

More recently its AI division, known as Artificial Intelligence Platform (AIP), has been making noise as a fast-growing part of the business. It sells its AIP to companies rather than governments and government agencies as with the rest of its business.

This is one of the factors behind the interest in how to buy Palantir shares – the opportunity to invest in an AI stock with growth potential.

Palantir’s live share price

How to buy Palantir Stock

The process to buy Palantir shares is simple:

Choose the best investment platform for you

We recommend eToro, but we also cover other great investment platforms for you below.

Open the right type of account with them based on your needs

You can invest in Palantir shares through a number of different account types, each with their own pros and cons. We cover these in detail below.

Search for Palantir (PLTR) on their platform and trade or buy Palantir shares

The final – and most exciting – step is to actually place a buy order so that you can own Palantir shares. Simply search on your chosen platform, using your chosen account type, for ‘PLTR’ and then decide how many shares to buy. We show you what this step looks like below.

We recommend eToro as the best way to buy Palantir shares in the UK.

eToro

eToro is our top-rated investment app, it’s easy to use, has lots of innovative features and allows you to trade commission-free.

Capital at risk if you invest.

Here’s what the trading screen in eToro’s app looks like:

eToro trade screen to buy Palantir shares
Snapshot taken 8th Feb 2024. For live share price see above.

Hit ‘Trade’ and you’re ready to buy Palantir shares with eToro.

You’ll also need to complete a W8-BEN form before buying Palantir stock, or any US stock, as a non-US person. More on this below.

This article has been reviewed by Talal, who is a CFA qualified finance professional. Talal previously advised clients with at least £1 billion to invest, so you’re in safe hands.

Buy Palantir shares in an investment account

If you want to set up an account and buy Palantir shares quickly, then a general investment account (GIA), sometimes known as a trading account or just an investment account, is the perfect way to get started.

eToro

eToro is our top-rated investment app, it’s easy to use, has lots of innovative features and allows you to trade commission-free.

Capital at risk if you invest.

You can have as many GIAs as you like, and there are no contribution or withdrawal limits or penalties.

But, you may have to pay income tax, dividend tax or capital gains tax on any gains or income received through a GIA. There are a number of allowances before you’d have to pay tax, but it will come down to your individual circumstances.

Sometimes a GIA is referred to as a dealing account, usually by the more traditional stockbrokers. 

If you’d prefer a traditional stockbroker with modern features and customer support over the phone, then we recommend Interactive Investor.

Interactive Investor

With over 400,000 customers, Interactive Investor is one of the largest investment platforms in the UK.

It has over 40,000 shares and investments to choose from, fees which get cheaper the more you invest and one free trade per month. Its customer service is top-rated, too.

Buy Palantir shares in an ISA

An Individual Savings Account (ISA) is a government approved way of saving and investing without paying certain taxes. 

Through a Stocks and Shares ISA, you can invest in shares, bonds and funds without paying income tax, dividend tax and capital gains tax on your investments.

Whether you’re going to buy Palantir shares or not, you should consider opening a Stocks and Shares ISA as a great, tax-efficient way of building an investment portfolio. You can contribute up to £20,000 a year into a Stocks and Shares ISA. 

We recommend Interactive Investor as our number one Stocks and Shares ISA provider.

Interactive Investor

We recommend Interactive Investor as our number one Stocks and Shares ISA provider. It’s one of the largest investment platforms in the UK, has a huge range of investments and excellent customer support.

Buy Palantir shares in a SIPP

Whether you already have a self-invested personal pension (SIPP), or want to open one, you may be thinking about adding Palantir shares to your portfolio to add some exposure to an AI stock. 

A SIPP is a great, tax-efficient method of saving for your retirement, with lots of investment options and control over how you invest.

If you want to buy Palantir shares in a SIPP, then we recommended AJ Bell as our number one SIPP provider:

AJ Bell

For its huge range of investments and low pricing, AJ Bell is our top pick for best SIPP. 

There are thousands of shares, funds, ETFs, investments trusts and bonds to choose from. Plus, 4 ready-made portfolios if you don’t want to pick your own investments.

AJ Bell is also known for its excellent customer service and it has a Trustpilot rating of 4.8.

Capital at risk if you invest.

For a full range of SIPP providers and to see more on why we ranked AJ Bell top, read our guide to the best SIPP providers.

Note: you do not need to complete a W8-BEN form for investing in US shares when doing so in a SIPP. More on the W8-BEN form below.

Buy Palantir shares in a Lifetime ISA

Lifetime ISAs (sometimes referred to as LISAs) are tax-free savings and investment accounts designed to be put towards your first home, or for retirement. 

You have to be an adult aged 40 or under to open a Lifetime ISA and can contribute up to £4,000 a year, which also counts towards your overall ISA annual allowance of £20,000. 

The great benefit of a LISA is that the government gives you a 25% bonus on all your contributions. 

That can really add up over time, so you should strongly consider opening a Lifetime ISA if you’re eligible. But, there are strict penalties for withdrawing money for any other reason than to buy a first home or for retirement.

Hargreaves Lansdown

Not all investment platforms offer a Lifetime ISA but Hargreaves Lansdown does and it’s one of the lowest cost out there.

There’s a huge range of investments, great customer support and no transfer or exit fees.

Buy Palantir stock through fractional shares

You don’t have to own a whole share in a company when investing these days. You can instead buy a fractional share, which is a proportion of a single share.

Many of the best investment apps in the UK allow you to do this. It’s particularly useful for buying shares in companies with high share prices, which can put them out of reach for new investors.

For example, you can buy 10% or 50% of a share instead of one whole share. This lowers the funds required to get exposure to high-priced shares.

Our preferred platform for buying fractional shares is eToro, and you can buy fractional Palantir shares on their platform. 

eToro

eToro is our top-rated investment app, it’s easy to use, has lots of innovative features and allows you to trade commission-free.

Capital at risk if you invest.

Buy Palantir shares in a Junior ISA

A Junior ISA is a tax-efficient savings and investment account for children, which can only be opened by a child’s parent or guardian. 

Once opened, anyone is able to contribute, such as grandparents, and there’s an annual limit of £9,000. All gains and income generation within a Junior ISA is free from income tax, dividend tax and capital gains tax. 

To buy Palantir shares in a Junior ISA, you’ll need to first open a Junior ISA account for your child. Our top-rated Stocks and Shares Junior ISA is with Hargreaves Lansdown.

Hargreaves Lansdown

The UK’s largest retail investment platform, Hargreaves Lansdown, is our top pick for the best Junior Stocks And Shares ISA.

It charges no account or dealing fees at all – including on US shares – and has the widest range of investment options, as well as great customer service.

For more on Junior ISAs and why we rate HL as number one, read our full guide to the best Junior Stocks and Shares ISAs

How to buy Palantir shares in the UK

We’ve covered all of the main ways to buy Palantir stock in the UK, but as a non-US person, you must complete a form known as W8-BEN

A W8-BEN form is required by the Internal Revenue Service (IRS, the US’s tax collector) for non-US persons who wish to deal in US-listed securities. The key purpose is tax.

The US applies a withholding tax of 30% on non-US persons for dividends and interest income received on US assets. By completing a W8-BEN form, this tax reduces to 15%. Regulated brokers and investment platforms in the UK all require you to complete this form before buying US shares.

All of the investment platforms and brokers in this guide will require you to complete a W8-BEN form before you can buy Palantir shares, unless you do so through a SIPP. Buying US shares within a SIPP is free from US withholding tax and does not usually require a W8-BEN form.

Here’s the prompt you’ll see when buying US stocks and ETFs with eToro:

Buying US stocks and ETFs with eToro requires a W8-BEN form

eToro makes it easy to complete the W8-BEN form through its app and its online platform.

Should you buy Palantir stock?

If you’re reading about how to buy Palantir shares, you’re probably already thinking ‘should I buy Palantir shares?’.

We cannot help you with that one, as we don’t give investment advice. It’s down to you to do your own research on Palantir stock and make your own investment decision. 

The investment platforms we’ve covered above all have tools and resources available to help you with your research and analysis. We suggest you make use of them – especially the tons of features that eToro provides.

All of the investment platforms in this guide are regulated by the Financial Conduct Authority (FCA) and are part of the Financial Services Compensation Scheme (FSCS), protecting up to £85,000 of your money in the unlikely event that the platform goes out of business.

Note: to buy Palantir stock and to buy Palantir shares means essentially the same thing. Buying stock, or owning stock, tends to be more widely used in the USA than in the UK. 

Start investing

That covers how to buy Palantir stock in the UK. Let’s summarise.

First, decide which investment platform you want to use. Then decide which type of account you’d like to invest through – or you may already have an investment account. Make sure to complete a W8-BEN form, too. 

Finally, search for Palantir (ticker: PLTR) on the investment platform, choose how many shares you want to invest in and hit ‘buy’.

Here’s a final reminder of our top picks for each type of account:

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Disclaimer: This article should not be considered financial advice. We do not recommend that you buy Palantir shares, nor do we recommend that you do not buy Palantir shares. No view is held or given on the present or future value of any investment mentioned in this article or elsewhere on our site. You should do your own research and make your own investment decisions. Investments may rise or fall in value; your capital is at risk if you invest.

Any company information or statistics mentioned were correct at the date of publication but may have changed since then.

Buy Palantir shares

We reccommend eToro, it’s commission-free and has thousands of shares.
Capital at risk if you invest. FCA regulated and FSCS protected.

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Get £200 cashback with Interactive Investor

Get £200 cashback when opening and investing in a SIPP, or transferring a SIPP. Terms apply.

Capital at risk if you invest. Interactive Investor is regulated by the FCA and has FSCS protection.

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