Full review of one touch hedging strategy for binary options suck or doesn't suck ask the experts46 comments
Top 10 4 forex brokers in the world
Best tool to buy US shares? What do I need to know about etrade before using them? Hi Arnies, I use OptionsXpress www. I believe they also cater for NZ residents because their terms and conditions say "The customer warrants that it is an Australian or New Zealand resident or citizen OptionsXpress are owned by Charles Swab.
When you transfer money into your brokerage account, it is converted and held in US dollars. It's important to note that most of their literature on their web-site is very trader-centric. I'm a old school long-term buy and hold investor and have found their service to be perfectly suitable for me. I do also buy a couple of LEAPS every year, but again, these are stock options that span up to 2 years in duration.
I absolutely love investing in the US stock market, can't imagine life without it and totally love the sheer volume of choice when it comes to finding companies to invest. I can also attest that OptionsXpress electronic documentation in terms of dividend notices, statements, trade confirmations etc are superb. For disclosure purposes, I have only been with OptionsXpress for 3 years now.
I was force to transfer my significant US Holdings to them when TD Ameritrade decided they no longer wanted to hold brokerage accounts for Australian residents. That was a pain in the butt, because I had been with TD Ameritrade for almost 20 years and had built up a sizeable portfolio. I don't know if they will be the best option for you, but at least it IS an option OK, enough with the lame puns. Sorry for replyling to an oldish thread I too have been using optionsxpress and am also a buy and holder of ETFs.
I have been fairly happy. The only issue is with money transfer which is a huge pain if you want to avoid fees. The easiest way is to wire money but then you are stuck with the horrible bank bid-ask spread and their commission. To avoid too many fees this is one solution that I have done: Set up an Australian bank account commbank - as I am already with asb this was fairly easy 2.
Set up an nzforex account https: Transfer money to your Australian bank account via nzforex optionsxpress won't accept money if it isn't coming from an account under your name, so you can't transfer via nzforex directly unfortunately 4.
Transfer money from australian bank account to optionsxpress How have you been doing it boring? Another possibly better option is http: It seems far less easy to use than optionsxpress. It is possibly more day trader focused. There is not the information about securities that optionsxpress gives you that a long term investor looks at.
Although you can easily get all the info on yahoo or bloomberg. There are several advantages to using halifaxonline that I can see. Interesting comments, as you say very trader focused. What do you think about etrade. Very hard to find a cheap alternative for the long term investor who wants to do the odd trade. After reading about efts and vanguard I want to have a cheap way to purchase these.
Interesting to read your comments on OptionsXpress, Jeronz. And their brokerage fees looked more attuned for a high frequency of trades.
I much preferred the OptionsXpress platform. Out of interest how are the shares held at OptionsXpress, custodial? And is this for us shares only. Yes, stock positions are custodial. Dividends will be automatically credited to your account USD denomination.
All stock holder communications will be delivered via your brokerage account. It does appear to be limited to the US exchanges.
So to buy US shares OptionXspress looks very good. To keep things simple where I just want to add to mainly global etfs some shares on the asx and nzx what is your suggestion. Do I really want 3 accounts? Is it just higher brokerage and FX fees? Limited ETFs available for purchase? Really it is not double currency risk.
I thought of opening an account with trade. You can buy on other exchanges for around. Have not sorted this out yet. I do find NZ so far behind on what is offered here. This is an interesting thread.
Key is whether it applies to non-residents. If you are a NZ resident then you are taxed under NZ rules. Any tax deducted offshore from those investments can be claimed in your NZ tax return. Sorry for dragging up an old thread. In case someone else does the same, I wanted to add my recent experience in trying to open an Options Express account.
The short answer is it appears that New Zealanders can't any longer. The long answer can been seen in the below email.
Which would have been nice to know before going through their entire application process, printing, signing and scanning documents to them. Especially when the very first step of the registration process asks where you reside. And there only two options. Australia and New Zealand. Just a bizarre waste of an hour, so this is a heads-up to others who try: Thank you for your recent interest in opening an account with optionsXpress Australia.
Unfortunately, as a result of the introduction of the Financial Markets Conduct Act in New Zealand, international companies are now required to register to conduct business in New Zealand. We apologise for any inconvenience and encourage you to check back with us at a later date to determine if this situation has changed. Kind regards, Account Services I've just signed up at http: Very simple initial process, but I still have to get my identity witnessed and posted snail mail to them.
So I can't provide much more info on that yet. Any other Etrade customers having to close their accounts due to NZ residency? We apologize for any inconvenience this may cause, and have provided instructions below to help you begin the process of transferring the assets in your linked brokerage account s to another financial firm, or liquidate the assets and close the account s.
I somehow have 0. I use td Waterhouse international based out of Luxembourg. Worked very well for 15 yrs, fees have recently changed which are good for people who are active for me less than ideal now but workable. When we moved overseas to a less 'desirable' country, td have let us continue as we were NZ residents when we opened our account Also, can you use both, or are you limited to one or the other? I set up an account with https: The process was straight forward and they accept NZ residents.
Trades are held as street and you can enable DRP on most holdings. I've used nzforex to fund it, which has worked fine. Also are their tax issues, I have been told to not use US domiciled products as death duties will apply for non US residents. Yes, they are held custodial. There will be taxes charged, that can been claimed on a IR3. I understand death duties would apply, however I'm ok with that for my small holding. Has anyone bought anything on Halifax or have any experiences with it to share?
I have been trying to apply online with Ameritrade. What did you do there? Ameritrade had a second field for what was presumably my IRD number, i.