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Online Broker and Foreign Market Questions
Hey,
I have some questions that some of you might be able to answer.
I'm from the UK and I was wondering if trading on the U.S market was worth it. One bonus I've seen is a lot more of online communities which is very helpful, also I see a lot more business' which adds a lot more opportunities.
Another question is, for trading on the U.S market I've been recommended Zecco, which looks pretty nice (?2 a trade for me). Does anyone have any other recommendations?
Thanks!
Pigeoninator said: ↑
Hey,
I have some questions that some of you might be able to answer.
I'm from the UK and I was wondering if trading on the U.S market was worth it. One bonus I've seen is a lot more of online communities which is very helpful, also I see a lot more business' which adds a lot more opportunities.
Another question is, for trading on the U.S market I've been recommended Zecco, which looks pretty nice (?2 a trade for me). Does anyone have any other recommendations?
Thanks!
Click to expand...
What great questions!
As to the first one: I've wondered the same thing in reverse. That is, should I open an account that allows me to trade on European exchanges.
Perhaps a discussion of the second question will speak to what exchanges are available through what brokers.
Looking forward to this thread.
Well, for me trading on the U.S market is quite good because the Sterling doubles on the Dollar(not that it matters that much because I'm not planning on moving out there and using Dollars). But Like I said there's just so many more communities dicusssing the U.S market which helps a new comer to the market. Also the commission is low!
I can't offer a lot of insight about your questions as I am just starting out.
I have been using LowTrades.com. So far I have no complaints about them. I've completed one trade so far and it went smooth. $4.95 a trade.
I found about zecco after I had already opened a LT account, the fact that zecco offers 10 free trades a month if you have the minimum balance is nice. I might switch when I get my funds traded up to the necessary level to qualify for free trades.
Be careful of the tax ramifications. You will have to file in the states and your normal filing. For U.S. citizens with overseas income one must file in the country where the income is earned, pay the appropriate tax, file credit for the tax paid, and if it exceeds the US tax too bad, and if not one must pay the difference.
