brokers

[jk]

a question arose in the "who do you read" thread in the context of remarking on marc faber's recommendations of international stocks. anyone know of brokers who don't require multimillion dollar accounts who can trade stocks in places like thailand, malaysia, indonesia, brazil, etc? [and who don't kill you with huge commissions and ultra-wide spreads?]

and as long as we're on the subject. any especially interesting brokers in terms of unusual services? interactive brokers, for example, allows trading of equities on multiple north american and european exchanges, as well as japan [its only asian equity presence]? [it also allows trading of futures, options, currencies in multiple markets around the globe.]

[Charles Mackay]

Re: brokers

jk, this is an excellent question but I doubt if you'll get any feedback at iTulip. I posted in the "Capital Controls" thread the following and no one responded. I suspect no one knows the answer.

It's not easy. Try and locate a satisfactory overseas institution. I tried Canada, Hong Kong, and the UK and no one will buy securities for US citizens because of US SEC regulations. The SEC strong arms these countries by blocking them from participating in US markets if they don't "play ball". Playing ball means that country can't allow US citizens to buy and hold foregin securities from that country's brokers and banks. You can get on the phone right now and call TD Trust in Canada and they will tell you nope they can't buy Canadian securities for US citizens.

If you do it in Austria or Switzerland expect to pay fees that are so exhorbitant that you won't make any money.

My criteria is:
1) multiple currency support
2) low fees
3) online banking
4) gold storage
5) willing to buy stocks and securities even though I'm a US citizen.
6) no foreign taxes
7) bank secrecy
8) English speaking

Jyske Bank in Denmark was suggested to me but I found out that only the Swiss branch of Jyske can store gold and then you don't get Netbank so you can't do online transactions.

I can buy CEF or Mega Uranium or any other Canadian securities thru Interactive Brokers but that doesn't protect me from US controls. It's easy to open a bank account in Canada and hold C$ but I'd rather hold gold mining stocks, uranium, and energy and commodities in Canada and I can't do it.

[jk]

Re: brokers

anyone know about institutions in singapore or the caribbean?

[zmas28]

Re: brokers

I saw an interview with Peter Schiff of Euro Pacific Capital. Sounded like they may be enabling purchase of foreign securities in foreign markets, without charging an arm or a leg.
Link:
http://www.europac.net/

Just curious if anyone has had any experience with them?

[EJ]

Re: brokers

Our hosting company provides tools that collect data for marketing purposes on who is visiting the site. Data privacy is strictly protected.

We know that among iTulip's 2000+ visitors per day there are many brokerage firms from around the world.

I'm sure there are at least a couple that would like to answer your question but our one strike anti-spam rule on this forum prevents them from doing so.

We will post an RFI (Request for Information) on the landing page for brokerages that meet the requirements that you've specified, collect their contact information and provide it to you here.

Does that work for everyone?

[bart]

Re: brokers

Does that work for everyone?

Fine with me, pretty sane way to balance the issues.

[qwerty]

International brokers / Europac

Did any brokers come offering their services?

Bad timing this past month I guess.

I have been trying to contact Euro Pacific but no response from them via their website, and left on hold for 10 mins to talk to a broker about a new account. They're pretty small huh?

[phirang]

Re: brokers

I use interactive brokers: best service out the imho.

[qwerty]

Re: brokers

I use interactive brokers: best service out the imho.

Thanks. I think I saw some online broker advertising foreign stock trades.

Now, which one was that, or are they all doing it?

And which ones are weak financially - I think I saw one of them at the top of a Weiss list of risky banks.

[SamAdams]

Re: brokers

Is this still of interest to anyone other than me? Did Eric get info on some brokerages? I have some in mind that I am willing to share that I have mostly not used but found out on another site but don't want to break any rules. Feel free to PM me if you want resources. Anyone have any luck? The options do seem limited.

[globaleconomicollaps]

Re: brokers

I think I posted this before:

I live in France and have a french passport. I opened an account at BNP pariba. They wanted to see a local address. I took them several months to set up a brokerage account, and although they have an online brokerage system, they review each trade manually. Also they seem to be somewhat arbitrary about what stocks can be traded. For instance I tried to buy this:
http://www.etfsecurities.com/en/upda...Fact_Sheet.pdf
and was declined.
BNP Pariba has not discovered gold yet. The concept of segregated allocated storage doesn't seem to exist in french banks.
Fees are low and there are a few English speakers on staff. It is a bit hit or miss if you can find one. I recommend learning french.