There is a feature in the app (from the profile) to exchange currency... Or she just buy US securities, and they'll do the conversion automatically for you.
The tricky bit here is, you don't know the exchange rate. Even if, on the currency conversion screen, they display a rate, it's "indicative".
I asked support, and they told me that - to know the rate for the day - I have to call their office in the morning after 930am and ask.
Are there any low or zero commission brokers for US stocks that allow for pre market and after market trading?
I know I used my US Schwab brokerage account to buy a few shares of VTI after market with a limit order. Schwab didn't charge me any fees for submitting my limit orders (only one went through) and also didn't charge me any fees for processing my order.
In any case it's best to check with a brokerage directly.
Introducing commission-free online equity trades | TD Ameritrade
Was just informed that starting from 3 August, TD Ameritrade HK offers commission free trading
So I found this in the TD Ameritrade Funds on Deposit Disclosure Statement:
"1. TD Ameritrade Clearing, Inc. is a member of the Securities Investor Protection Corporation, which protects securities customers of its members (including you), excluding futures and options on futures, up to a limit of US$500,000, including a US$250,000 limit on claims for cash (against brokerage insolvency). Please note that this does not protect against loss in market value of the securities. An explanatory brochure is available on request at www.sipc.org; and
2. TD Ameritrade Clearing, Inc. maintains an additional insurance policy through a group of London underwriters (with Lloyd’s of London Syndicates as lead underwriter) to supplement the SIPC protection, which becomes available to TD Ameritrade’s clients in the event that the SIPC limits are exhausted.TD Ameritrade Clearing, Inc. provides you US$149.5 million worth of protection for securities and US$2 million of protection for cash through supplemental coverage provided by London insurers. In the event of a brokerage insolvency,you may receive amounts due from the trustee in bankruptcy and then SIPC. Supplemental coverage is paid out after the trustee and SIPC payouts and under such coverage each client is limited to a combined return of US$152 million from a trustee,SIPC, and London insurers. The supplemental coverage has an aggregate limit of US$500 million over all customers. This policy provides coverage following brokerage insolvency and does not protect against loss in market value of the securities."
This sounds pretty good to me. How does SoFi/IBHK compare? From what I can find, their max payout seems to be only HKD 500k as per the Hong Kong Investor Compensation Fund. Also, what does point 2 mean exactly? Are you seriously insured up to USD 150 million? I must be misunderstanding.
Protection of capital in case of default is one of my main worries with my current broker so I am looking to switch.
The way I read this...
- They have an overall coverage of US$ 500M for all customers
- Each individual customer is covered upto $149.9M and US$ 2M
- Customers are paid out AFTER trustee and SIPC payouts
So - you are at the end of the insurance trail. If all accounts are affected, then you get paid proportionally from a pool that is left over from the $500M after all other payments are being made.
Nothing overly special in my opinion, but like all insurance, I'm sure there are several dozen fine print items which are not explained to retail investors.
(I have no clue how these brokers work / what their liabilities are / what the risks are / how much they have lent out to their margin investors etc etc etc.... )
This bit is probably more important to retail investors:
Securities Investor Protection Corporation, which protects securities customers of its members (including you), excluding futures and options on futures, up to a limit of US$500,000, including a US$250,000 limit on claims for cash (against brokerage insolvency).