I am trying to get a list of the major, NON-U.S. DISCOUNT STOCK
BROKERS with access to European markets that have the LOWEST
COMMISSIONS.
An example of the type of broker I am looking for would be Internaxx,
a joint venture by TD Waterhouse and Fortis Bank, which has a
commission scale of about 0.07% - 0.1% of the trade value.
Ideally, I would be able to find a non-U.S. based broker geared
towards international investors that charges only a FLAT FEE per
trade. However, I am not sure if the flat fee structure exists outside
the U.S., so I am hoping to find a list of the brokers with the lowest
commissions out there.
Thank you in advance for the research. |
Clarification of Question by
internationalfinance-ga
on
19 Jun 2006 07:41 PDT
I need a broker that does not have any residency requirements (i.e., a
UK broker requiring I be a UK resident), as I am a Singapore-based
investor.
|
Clarification of Question by
internationalfinance-ga
on
19 Jun 2006 08:54 PDT
Also, for clarification, I am looking for an ONLINE non-U.S. discount broker.
|
Request for Question Clarification by
pafalafa-ga
on
19 Jun 2006 10:07 PDT
internationalfinance-ga,
I can find you some pretty good European online
brokers...well-established and reasonable rates.
But your need for no residency requirements is quite a stumbling
block. Every broker I've seen thus far requires clients to have a
resident address in a specified country.
I suspect this is a very substantial problem, and may be impossible to
overcome, but I'll certainly let you know if I find out otherwise.
What are your thoughts at this point?
pafalafa-ga
|
Clarification of Question by
internationalfinance-ga
on
19 Jun 2006 11:13 PDT
pafalafa-ga,
I am glad I found someone willing to help answer my question. The
residency requirements are indeed a huge stumbling block. Internaxx,
which I mentioned in my question, is designed for expatriates, thus
not requiring particular residency. Maybe there are more out there
designed for expats?
Also, since I am resident in Singapore, that may open the door to some
Asia-based brokerages? But, the brokerages I have found here are high
percentage commission-based (not flat fee), and/or only provide access
to U.S. exchanges. Asian, as well as European, exchange access, is
also a plus.
|
