# Process of trading internationally from Australia



## Vidic (8 November 2015)

Hi ASF,

I'm looking for someone to guide me through the process of trading American stocks from Australia. From A to Z.

Cheers.
V


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## Gringotts Bank (8 November 2015)

Vidic said:


> Hi ASF,
> 
> I'm looking for someone to guide me through the process of trading American stocks from Australia. From A to Z.
> 
> ...




Cool.


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## Vidic (8 November 2015)

Can anyone help me?


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## Wysiwyg (8 November 2015)

The setup is as simple as opening an account with Commsec. They spell it out here with great clarity in black and yellow.

https://www.commsec.com.au/products/international-share-trading.html


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## Vidic (8 November 2015)

Wysiwyg said:


> The setup is as simple as opening an account with Commsec. They spell it out here with great clarity in black and yellow.
> 
> https://www.commsec.com.au/products/international-share-trading.html




Thanks, whats your opinion on Suretrader?


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## So_Cynical (8 November 2015)

Vidic said:


> Hi ASF,
> 
> I'm looking for someone to guide me through the process of trading American stocks from Australia. From A to Z.
> 
> ...




A: Open IB account - Fund it
Z: Trade US stocks

https://www.interactivebrokers.com.au/en/index.php?f=564


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## Gringotts Bank (8 November 2015)

Vidic said:


> Thanks, whats your opinion on Suretrader?




Suretrader is registered in the Bahamas.  

Do you know a girl called Sophia87?


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## Vidic (8 November 2015)

So_Cynical said:


> A: Open IB account - Fund it
> Z: Trade US stocks
> 
> https://www.interactivebrokers.com.au/en/index.php?f=564




When I fun an account. Does my currency transfer over to USD from AUD?


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## Vidic (8 November 2015)

Gringotts Bank said:


> Suretrader is registered in the Bahamas.
> 
> Do you know a girl called Sophia87?




I do not know a Sophia87.


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## Gringotts Bank (8 November 2015)

Vidic said:


> I do not know a Sophia87.




Tell me how much you plan to invest/trade.  Maybe I can help you find a broker that way.


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## Vidic (8 November 2015)

Gringotts Bank said:


> Tell me how much you plan to invest/trade.  Maybe I can help you find a broker that way.




Going to start with 15k AUD


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## Gringotts Bank (8 November 2015)

Vidic said:


> Going to start with 15k AUD




And I'm assuming you'd want to avoid he PDT ruling, yeh?  Would that be a requirement?


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## Vidic (8 November 2015)

Gringotts Bank said:


> And I'm assuming you'd want to avoid he PDT ruling, yeh?  Would that be a requirement?




For now, I don't really mind it. I'm not the best trader and therefore the rule would be healthy for me.


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## Gringotts Bank (8 November 2015)

Vidic said:


> For now, I don't really mind it. I'm not the best trader and therefore the rule would be healthy for me.




okay maybe we should forget about Suretrader.  Let's forget about that company, because I don't trust them and I don't think you trust them either.  Everyone reading this should completely forget about Suretrader.

Now, did you look into Interactive Brokers?  They have a minimum requirement of 10k to start.  Could be a good option for you.


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## Vidic (8 November 2015)

Gringotts Bank said:


> okay maybe we should forget about Suretrader.  Let's forget about that company, because I don't trust them and I don't think you trust them either.  Everyone reading this should completely forget about Suretrader.
> 
> Now, did you look into Interactive Brokers?  They have a minimum requirement of 10k to start.  Could be a good option for you.




IB seems like the way to go > Comsec. So Yes, this is fine. To go back to my question before, when/if i put my 15k into IB. Does that convert into USD currency?


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## Gringotts Bank (8 November 2015)

Vidic said:


> IB seems like the way to go > Comsec. So Yes, this is fine. To go back to my question before, when/if i put my 15k into IB. Does that convert into USD currency?




Good, problem solved.  You now have yourself a relaible broker (one *not *based in the Bahamas).

Re: currency

https://ibkb.interactivebrokers.com/node/1172


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## Gringotts Bank (8 November 2015)

End of thread.

See ya round, buddy.


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## bonkerrs (26 July 2016)

Starting this thread up again!

GB: What do you know about Suretrader to not recommend it? Is it because it is based in the Bahamas and that seems dodgy? Not being a smarta**se, sincere question. Doing my due diligence on the possibility of trading US stocks and avoiding the PDT rule.

Also, do Aussies get taxed twice if trading the US market? Once on the US side when (and if) you make a profit and once again when you withdrawal money from the broker account.

Cheers
Ben


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## History Repeats (26 July 2016)

bonkerrs said:


> Starting this thread up again!
> 
> GB: What do you know about Suretrader to not recommend it? Is it because it is based in the Bahamas and that seems dodgy? Not being a smarta**se, sincere question. Doing my due diligence on the possibility of trading US stocks and avoiding the PDT rule.
> 
> ...




Sure trader I hear good and bad but I'd stick to IB. As for tax you sign a form, W8n or something can't remember the exact name. You only taxed once.


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## bonkerrs (26 July 2016)

History Repeats said:


> Sure trader I hear good and bad but I'd stick to IB.



I too have heard good and bad too. What I wanted was to hear from someone who has used SureTrader or has dealt with them.




History Repeats said:


> As for tax you sign a form, W8n or something can't remember the exact name. You only taxed once.



Thanks. Will look into the W8n form.

Do you trade the US market?


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## History Repeats (26 July 2016)

bonkerrs said:


> I too have heard good and bad too. What I wanted was to hear from someone who has used SureTrader or has dealt with them.
> 
> 
> Thanks. Will look into the W8n form.
> ...





I highly doubt anyone here use/used sure trader. Yes, i have traded US market before EOD stock not day trading.


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