Process of trading internationally from Australia
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Wysiwyg
Everyone wants money
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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
https://www.commsec.com.au/products/international-share-trading.html
Thanks, whats your opinion on Suretrader?
So_Cynical
The Contrarian Averager
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A: Open IB account - Fund it
Z: Trade US stocks
https://www.interactivebrokers.com.au/en/index.php?f=564
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When I fun an account. Does my currency transfer over to USD from AUD?
I do not know a Sophia87.
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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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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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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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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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End of thread.
See ya round, buddy.
See ya round, buddy.
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
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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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.
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.
Do you trade the US market?
