Access to US Markets for International / Foreign Investors

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I have finally saved enough money to start investing. What company gives online brokerage account non us citizen, diversified access to stock, ETFs and mutual funds? Does it make sense to use company like Vanguard or Fidelity for that? You might do better online brokerage account non us citizen open with an EU brokerage company. Just watch out for trading fees. I would stay away from mutual funds unless you really do your research. Vanguard on the other hand has some incredible ETFs.

Currency transfer companies may charge 0. Some of the bigger ones are…. Investing is still important. Low-cost ETFs in a jurisdiction without capital gains tax or withholding tax are the best starting point. Some geographic diversification and a small emergency fund in gold coins also helps. The most significant is that ETFs are traded like stocks which can either be an advantage or disadvantage depending on your investment style and needs.

There is this http: But I not yet tested it on real money, so cannot say anything more precise yet. I use Interactive brokers, they are by far the cheapest and most flexible online solution. Thus my fees per big trade end up being very less. Their fees are higher and the available number of symbols is smaller. And you can also convert currencies. The books are very dated now, but the interesting part is the thought process anyway. How do you invest internationally as a nomad?

Here are some portals that list some offshore brokers… https: Some of the bigger ones are… http: Account opening is pretty easy and can be done remotely.

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A couple of months ago, an American woman living in Singapore sent me an email. But my broker says he can no longer do business with US citizens who live in Singapore. One of my American friends lives in Thailand. For the past 15 years, he has invested with TDAmeritrade. They recently sent him an email. It was emphasized in bold. Before , American expats could open accounts with Vanguard.

American investors who live abroad now have fewer places to turn. There are low cost brokerages overseas. But it makes sense. The United States is one of the few countries in the world that taxes its citizens on worldwide income. My wife, for example, was born in Pennsylvania. But like other U. That means every American abroad must also declare all foreign bank accounts to the IRS. Many foreign countries charge low or no capital gains taxes.

Such firms still welcome everyone. Many are located on the Isle of Man. It's a low-tax haven. But for Americans, these companies are like three-pronged hooks. When adding up platform fees and fund costs, investors pay 4 percent or more in annual fees.

So you are literally paying significant principal for the privilege of having an investment account. Investors who catch on to the high cost burden find themselves stuck.

That could be 25 years away. The IRS also whacks these investors. A couple of years ago, Americans in Singapore could open accounts with Schwab. Each year, it flashes a lot more red than green. One firm, however, seems to keep flashing green. Interactive Brokers is an American discount brokerage. They will, however, let you build a low cost portfolio of exchange-traded funds. Trading commissions are also low.

Andrew Hallam is a Digital Nomad. From Millionaire Teacher to Millionaire Expat. This article contains the opinions of the author but not necessarily the opinions of AssetBuilder Inc. The opinion of the author is subject to change without notice.

All materials presented are compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. This article is distributed for educational puposes, and it is not to be construed as an offer, solicitation, recommendation, or endorsement of any particular security, product, or service.

Performance data shown represents past performance. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Consider the investment objectives, risks, and expenses carefully before investing. Back to the knowledge center.