How to trade in US stock from hk

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  1. #11

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    Apr 2009
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    Thanks for the information. I will give them a call to find out.


  2. #12

    Join Date
    Aug 2007
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    Chai Wan
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    online

    You might try:

    www.interactivebrokers.com

    Low commission rates and decent trading tools. Do you want a broker that "advises you" or do you want an broker just to "make trades through"?


  3. #13

    There's also BOOM.COM - International Stock Trading

    Boom has a base in Hong Kong and you can set up an account easily (no need to transfer money to the States or anything). They're also fairly cheap in terms of costs.

    I've used them for several years and they're okay.

    BTW the last time I looked, which was a while back, you need to make a certain number of trades with Interactive Brokers to make it worth your while as I had been considering using them also. I'm more long term investing so I don't trade that much, which made Boom more suitable for me.

    Last edited by chris_in_hk; 20-04-2009 at 11:39 AM. Reason: Typo, oops

  4. #14

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    I have been with scottrade for some time, using their basic platform.

    Although someone once recommended Interactive Brokers to me, I have stayed with scottrade because for what you pay, I have a hunch most discount online brokers will be the same. You are not going to get any investing advice with them.

    Trades at scottrade are 7 USD but sometimes I have noticed sells cost 7.01. They will not allow trades on the OTC or pink sheets, at least with the basic service. Buying any stock selling for less than 1.00 USD a share will cost you a bit extra, something like .5 % of the total trade amount.

    Their basic platform software can be quirky. Often it will not make horizontal or diagonal trendlines. Also I have found that in the morning
    (6:30 a.m. on the West coast is when the market opens in New York) when you when want to complete a trade, their server can be overloaded. If you pay for their "elite" platform, it may be better.

    Their stock page does not have an after hours or premarket price, which I use like options to see whether it's worth going long on an issue. But you can figure it out by looking at the bid vs ask on the summary page.

    I have never had a problem over money with scottrade. They seem well run and efficient in that regard. They are easy to contact in America and from overseas they respond quickly and to the point by email.

    Last edited by exit strategy; 02-05-2009 at 09:11 PM.

  5. #15

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    Jan 2003
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    Back in Toronto now - after 10 1/2 years in HK
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    947

    exit strategy, the point is - is it good for someone based in Hong Kong? That's what the OP is after.


  6. #16

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    Quote Originally Posted by HKFella:
    exit strategy, the point is - is it good for someone based in Hong Kong? That's what the OP is after.

    Ok. Despite my meager and deteriorating cognitive abilities, I try to make a pretense of participating.

  7. #17

    Join Date
    Jan 2003
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    Back in Toronto now - after 10 1/2 years in HK
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    947
    Quote Originally Posted by exit strategy:
    Ok. Despite my meager and deteriorating cognitive abilities, I try to make a pretense of participating.
    As I'm also interested in answers to the OP's question (and Scottrade has always had a good reputation for price and execution), I looked at the scottrade.com website and it seems entirely US-resident-centric. The online account opening site asks for US Individual Taxpayer Identification number and SSN, the address limits the choice to US states and US Zip codes only. The terms and conditions say to foreign investors that all the products and services are intended to be made available only to U.S. residents, and then goes on to add a few compliance-type CYA statements to cover themselves if someone accesses them from overseas, given the global nature of the internet blah blah (also those who opened accounts while US residents could have moved overseas for a while and kept the accounts - though the site skirts this). They also have a Chinese Scottrade online, but that probably is only a language thing.

    This is all I've been able to gather. I don't know if there's a special scottrade site for foreign residents and whether despite the party line in the website conditions, there are "other ways" for foreign residents (whether US citizen or not) to open trading accounts with Scottrade, or whether its licence terms strictly prohibit it from doing so. Would anyone be able to confirm?

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