# Friend in USA wants to trade in the ASX - but how?



## Muschu (7 December 2009)

Hi

Help appreciated with this.

I have a friend in the US who is an Australian citizen.  The US is essentially his home now and he trades the USA market in a casual sense.  

His banking accounts are largely in the US of course but he has retained a BankWest account here for his occasional trips home.

Now he wishes, in the short-term, to enter the Aussie stock market and hopes to do so soon.

Any thoughts on how he could quickly open an online account would be welcome.  His current US accounts will not allow purchases in overseas markets.

Any thoughts welcome.

With thanks

Rick


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## theasxgorilla (7 December 2009)

Open an Interactive Brokers account in Aust.  Fund it from the US via wire-transfers.  Base currency of the account will be AUD.  When you want to withdraw funds, deposit them to the Bankwest account and wire-transfer them back to the US.  Or keep them local and fund the home trips.

As a non-resident Australian citizen, you may be told you can't open an Australian based IB account, but I'm sure where there is a will there is a way.


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## Muschu (7 December 2009)

theasxgorilla said:


> Open an Interactive Brokers account in Aust.  Fund it from the US via wire-transfers.  Base currency of the account will be AUD.  When you want to withdraw funds, deposit them to the Bankwest account and wire-transfer them back to the US.  Or keep them local and fund the home trips.
> 
> As a non-resident Australian citizen, you may be told you can't open an Australian based IB account, but I'm sure where there is a will there is a way.




Many thanks for this. I have heard of IB but not used them.  Is this Bell Direct 

www.beldirect.com.au

or is that different.  I was looking for a website.


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## Timmy (7 December 2009)

Rick - Bell Direct are not Interactive Brokers.

Here is the Interactive Brokers website:

http://individuals.interactivebrokers.com/en/main.php


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## Muschu (7 December 2009)

Timmy said:


> Rick - Bell Direct are not Interactive Brokers.
> 
> Here is the Interactive Brokers website:
> 
> http://individuals.interactivebrokers.com/en/main.php




Many thanks Timmy - thought I may have left the track.  Will pass this on to my friend.

Thanks again.


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