Got some EXTRSEC ETS BERK [ETSBRK] for AUD/US edge and a bit of a safer bet..Any thoughts? Are there any other benefits apart from convenience (traded on the ASX so less paperwork, normal trading hours, etc.)?
Has anyone "invested" in Apple or Google stocks this way?
Re: Has anyone tried investing in US stocks indirectly via ETIS?
Got some EXTRSEC ETS BERK [ETSBRK] for AUD/US edge and a bit of a safer bet..
So far OK
Chosen for convenience and low cost, direct purchase on the US market being not that easy or cheap
This was years ago and i sold out so long ago I even forgot if it was with profit or not.Have ETIS been discontinued? And if so, did you have to sell your Brk.B shares?
This was years ago and i sold out so long ago I even forgot if it was with profit or not.
I ended up opening a comsec international account to invest in the US, ETF leveraged or not, and direct shares
on the asx, i hardly play international.
Sorry but that is all i can help you with.
Hi Neoss84
Yes referring to comsec brokerage rates, they are extremely pricy, not sure how fx works, they'll probably sting you on currency conversion as well.
Anyhow, I can highly recommend Interactive Brokers, I use them and so do many ppl here on this forum.
There's a company called Tastyworks which has popped up on my radar, good looking platform but don't do aussie stuff.
for info,Thanks for your response. Ultimately, I'm trying to work out the best way to buy BRK.B
I know you said you have a Commsec International account but you don't play international much, but any major pitfalls or things I should know with buying BRK.B through Commsec International? (from a logistic point of view)
for info,
chi-x do an alternate product that tracks many of these top US stocks individually and called a transferable custody receipt (tracrs). They are bought and sold the same as "normal" shares except they are not offered by all broker platforms as they are a chix only product - so you will have type the ticker into your platform and see what comes up (I have 4 platforms and only 2 will allow me to trade these)
Apple is TCXAPL
Berk is TCXBRK.... etc
All done in aussie dollars etc same as a normal trade.
Hi Neoss84,
Just wanna clarify my previous post, finally pulled the trigger!
The system simply does a currency trade so no negative US dollar balance.
Hi @cutz thanks for both your updates in post #14 and #17. When I pull the trigger, I think I"ll use IB. Given weak Aussie dollar, will probably only do so if there's a severe double dip in the US.Oh, forgot to mention, reason for this is when I got transferred to IB Australia my account reverted to a Cash account therefore not allowed to be negative cash, a Margin account will allow a negative cash balance like what I described in post #13.
Hi @cutz thanks for both your updates in post #14 and #17. When I pull the trigger, I think I"ll use IB. Given weak Aussie dollar, will probably only do so if there's a severe double dip in the US.
Its not somewhere I want to play with, because of spreads and other unseen costs, but Chi-X now offers Australian investors access to 35 listed US companies through its TraCRs, which function similar to American Depository Receipts in the US. They give the purchaser a beneficial interest in an underlying share. So buying one Zoom TraCR means an investor holds the beneficial interest in one Zoom share.I didn't know about this but it looks like you can see them on CommSec.
Spreads look like they are 3% on average!!! Depth doesn't look crash hot for some of the names, better for others.
Seems like people will do anything to avoid getting a US broker account. Spare yourselves! Get an Interactive Brokers account!
The exchange has seen just 1300 TraCR trades in total since launch, with its TraCR assets under management sitting at about $30m. “It isn’t significant, but it’s growing,” he said, adding that he is targeting $200m in assets under management in the next 12 months.“In a time of heightened volatility and heightened risk, diversification is one of your only tools if you’re going to be in the equity market. And diversification into big global proven brands is not a bad place to be,” Chi-Xs Mr Jokovic said. First launched in late 2018 with its Apple TraCR, the uptake of the product had been “slower than we would have liked”, Mr Jokovic conceded.
Nine Mile Financial joins Deutsche Bank, Virtu Financial and Susquehanna as the fourth registered market maker on Chi-X.“As a relatively new player in the market maker space, which has traditionally been dominated by major global financial institutions and investment banks, agility was a critical factor for us when considering an exchange,” Mr Potter said. “Our decision to partner with Chi-X was driven by a belief in their products, agility and a joint desire to deliver better outcomes for Australian investors.”
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