Quote Originally Posted by FTG View Post
There you go, good news, you were getting alarmed unnecessarily.

Just something to keep in the back oy your mind.... is security of deposits with overseas based providers. I'm thinking IBKR would be totally unsecured (as they are at JD too). But of course JD, like BNZ is domiciled in NZ, so you potentially would have a little less of a fight on your hands if the "poo hits the fan".

BTW: JD's USD current rates, start at 3.55% and increase the higher the account balance.
If i'm not mistaken, security of deposits in NZ would be different than abroad as NZ doesn't have depositor insurance. If they did on NZD, they certainly would not on foreign currency. This has been the case where I grew up in Canada where Cdn currency deposits were insured up to $100K per account in CDN currency but anything foreign is not covered.

Therefore the issue of where you park your funds is important, hence i'm speaking big fish here. Also each broker has varying coverage on insured balances. SIPC comes to my mind which both IBKR and TDAmeritrade/Schwab offers to ALL account holders.

What I don't like about NZ brokers like Jarden is their high administration fees. Also if I choose to leave NZ to live abroad, i'm much happier with a large overseas broker than someone local only to NZ.