Since the merger TOS has changed a lot regarding account opening procedures, and with customer service in general.
I wanted to trade some fx some time ago with TOS but the order was rejected.Called them and was told that since I hadn't traded fx before the merger they were not allowing any new non US fx accounts to trade. No idea when that policy will change .
Have just opened an IB account as a UK citizen with HK PR id with no problems.
TOS customer service (US side) is a dream in comparison, even now.
anyone can access from their website, not only clients, as in ib. they know that if potential clients try out their customer service (US side), they would be discouraged from opening.
Hi,
Just wondering an update on this; does ToS (TD Ameritrade) accept non-US resident accounts? I can't see anything about international customers on their website, and a quick look at their New Account registration page seems pretty clearly aimed at US residents only (no option to choose country).
I'd love to go with IB (10x lower commissions!), but they don't accept noobs: minimum of 100 trades and 2 years experience needed in any product you wish to trade.
TOS certainly used to accept international customers. Maybe a good idea to call them and double check.
No idea IB had this 100 trade requirement, must be a very new idea as it was not in force a year ago when I joined.
Cwbguy, can I ask, were you a novice at the time you joined IB, or did you obviously meet those minimum requirements. These minimums are in the online application. It may be that they are a bit more lenient if I go to their office in person (though I've heard bad things about their customer relationship).
https://www.interactivebrokers.com.h...dex.php?f=1591
Minimum Requirements to Open an Account
A minimum equity deposit in cash or stock of USD 10,000 (or USD equivalent) or USD 5,000 for IRA Account (or USD equivalent).
Prior execution of 100 or more trades (any product).
Good or extensive product knowledge for any product you wish to trade.
I did online application and was not asked about my experience. I did have to go to the office with ID to prove who I was.
IB wins many prizes for their trading platform and range of products offered, but their back up service is notoriously shite. Search some of the trading sites like www.elitetrader.com for traders views on them.
If I do go the road of a US-based broker, I'm starting to look at TradeStation http://www.tradestation-international.com/
They do seem to accept international accounts, have a low commission (1c per share), and low account opening minimum ($5000). The website and trading software seems quite user-friendly too.
I could use CurrencyFair to pay only HK$35 for the transfer, with a decent exchange rate.
Seems a better plan than paying US$9-10 through Schwab or Etrade. I know they're a big name in the US/UK. Anyone here had experience with them?
FYI, I am an NZ'er resident in Hong Kong.