Help: $USD Brokerage Account for US Equity Trading

[Wolfe]

Hey ASF'ers,

I'm sure many people here trade US equities, and if you use a AU Brokerage account like me, you're probably sick of paying the currency conversion each way on those US trades.

So I'm wondering if anyone has, or knows how to open a US/$USD retail trading account from Australia (as an Australian citizen)?

If so, what was involved? Any tricky bits or watch outs that can be shared?

Were there any banking issues that needed to be dealt with?

From a banking pov I stumbled across Transferwise's new 'Borderless Account' which offers an American bank account and routing number (this may be helpful).

Check it out here if you're interested https://transferwise.com/au/borderless/

Any reco's on brokerage provider, I've seen a lot of love for Interactive Brokers on here.

cheers
Wolfe

 

[greggles]

Any reco's on brokerage provider, I've seen a lot of love for Interactive Brokers on here.

Hi Wolfe, I don't trade US equities so perhaps someone else can chime in regarding your more specific queries, but all the feedback I have seen over the years has pointed to Interactive Brokers as being the international broker to use for those who trade overseas markets.

 

[Wolfe]

Hi Wolfe, I don't trade US equities so perhaps someone else can chime in regarding your more specific queries, but all the feedback I have seen over the years has pointed to Interactive Brokers as being the international broker to use for those who trade overseas markets.

Thanks greggles,

I've been poking around their website and reading some other forum posts and they look like a good outfit. Hopefully someone can confirm how they opened a US/$USD account so I can eliminate those pesky currency rips I endure trading in an account base of $AUD.

A penny saved is a penny earned after all

Wolfe

 

[cutz]

Thanks greggles,

I've been poking around their website and reading some other forum posts and they look like a good outfit. Hopefully someone can confirm how they opened a US/$USD account so I can eliminate those pesky currency rips I endure trading in an account base of $AUD.

A penny saved is a penny earned after all

Wolfe

Hey Wolfe,

Interactive brokers is the way forward, just follow the bouncing ball when opening account.