International Broker

[robertbanking]

Hello everyone, happy Monday, hope you are all doing as well as possible.

I am sadly struggling to find a good international broker for trading US shares. Some charge incredibly high FX fees some as high as 1% every time a stock is bought and sold. Does anyone kindly have any recommendations for brokers they use for buying US shares please, i would be forever thankful and grateful. These fees are extremely high and the cost to the broker for these transactions would be minimal, so clearly they are charging this high to take advantage of retail customers who do not know what is going on.

Thank you very much for any advice and support you can offer, i would truly appreciate it. I wish you a wonderful week and i must add this forum is the best stock forum i have ever being part of.

 

[qldfrog]

I use Saxo

 

[divs4ever]

Pershing negative interest rates for CommSec International Trading Accounts
As a result of global central banks adopting an expansionary monetary policy, there are instances where interest rates are negative. In a negative interest rate environment, positive balances attract an interest charge as opposed to an interest return.

What does this mean for CommSec International Trading Accounts?

Pershing apply an interest rate charge on positive balances in the below currencies. The rate of interest charged is dependent on the balance of the currency, different rates are applicable depending if the balance is below or above a set amount (known as the balance threshold).

Effective 21 March 2022, the interest rate charges for the below currencies will be as follows:

Currency Balance threshold Rate below balance threshold Rate - above balance threshold
CHF (Swiss Franc) 100,000 CHF -2.00% p.a. -4.25% p.a.
DKK (Danish Krone) 1,000,000 DKK -1.40% p.a. -1.80% p.a.
EUR (Euro) 86,000 EUR -0.80% p.a. -1.05% p.a.
JPY (Japanese Yen) 100,000,000 JPY -0.40% p.a. -0.65% p.a.
NOK (Norwegian Krone) N/A -1.10% p.a. N/A
SEK (Swedish Krona) 2,000,000 SEK -0.85% p.a. -1.25% p.a.
Please note these charges are applicable to accounts holding currency within the thresholds outlined above, any applicable Pershing charges will generally be applied on the 20th day of each month. These charges will be reported as “Free Credit Balance Interest” on your account statements.

Rates are subject to change by Pershing. Any changes to rates will be communicated via the CommSec website.


add on the fees and charges and FX expenses , and you will understand how i found trading/investing ( mostly ) in international shares unattractive