stock trading accounts
stock trading accounts
How to get an account of U.S. equity trading for actions in the U.S. NYSE as an Australian citizen?
Is there any share of online trading companies that allow foreign (Australian) to hold accounts? I want to trade U.S. stocks and I want to wear a seat in the U.S. trading account. Has anyone done this before?
All major U.S. brokers take online international clients – its no big deal. It is tax treaty between the U.S. and Australia so that you do not need to go through the process of SSN above. The agent will give you a Form W-8BEN "Certificate Form of State for Foreign Affairs of Beneficial Owner for United States withholding tax "- you must provide the AU file VAT number [although not required that - this does not raise flags] You will be charged to your withholding tax on profits [some 10% believe], then you must report all capital gains in your tax return from the AU. It will take about 5 business days for your account and start-up funding. For runners, my favorites are www.ameritrade.com www.thinkorswim.com My business partner just switched to Zecco.com and he is very happy. Have a look around and find the right one for you. There is a corridor of Australia – Www.spectrumlive.com that you should have a look. Being a foreign national may CFD trade in the Latin market and gain more benefit than the average portfolio margin account in the U.S. [and you need about 100K so I think]. You also get access to the widest range of currencies and commodity products not available to consumers through major brokerage platforms – you can get the same effect although trade. If your trade ETF serious look at my site: http://www.thedailytradingreport.com – would you like to subscribe to the free newsletter.
