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  1. #41
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    Quote Originally Posted by voltage View Post
    why is this so difficult to fine a cheaper way to purchase overseas stock that is relatively simple
    I'm with Tdameritrade paying US$6.95/trade, Have been using them for over 10 years and had never any issues getting money in or out.

  2. #42
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    I think it may have all to do with Money Laundering etc. I think others have posted previously, that quite a few overseas brokers that use to take all comers now are very selective, fine if you are already with them, but if not well...

  3. #43
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    Quote Originally Posted by Jay View Post
    I think it may have all to do with Money Laundering etc. I think others have posted previously, that quite a few overseas brokers that use to take all comers now are very selective, fine if you are already with them, but if not well...
    Oh yeah I didn't read through the whole thread. I know it from my days of online Poker how difficult the US made it to get money out of the country. I consider myself lucky that I have had accounts with online wallets, brokers etc before this law came into play.

  4. #44
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    Hi Jay and Silu
    is getting money out of a US broker (like interactive brokers) actually hard?. Looking at their website they say one free withdrawal a month, and given what you need to do to prove identity to open an account, I wasn't anticipating any issues getting money back home. Afterall you are transferring from your US broker account back to your NZ account?

    Also, I've been playing around on the interactive brokers free demo. I'm a bit surprised it doesn't know some of the UK stocks I hold though. Anyone had a problem with Interactive not covering smaller UK companies??
    Last edited by jg8512; 07-08-2018 at 04:46 PM. Reason: typo-es

  5. #45
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    Sorry jg. don't know, don't have an account with one of these brokers, there is another thread(s) around discussing this if I recall

    https://www.sharetrader.co.nz/showth...ght=US+brokers
    https://www.sharetrader.co.nz/showth...ght=US+brokers

    https://www.sharetrader.co.nz/showth...ght=US+brokers

    There is 3 to have a read, I just searched us brokers

  6. #46
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    Quote Originally Posted by jg8512 View Post
    thanks BeeBop. useful to have that perspective from experience.
    PS. I had a look at Interactive Brokers too ... they are even cheaper, and have lower inactivity fees too. but you have to pay for market data (which I think is optional).
    i don’t use the market data provided by internaxx. Of course I would like cheaper fees (these don’t seem materially cheaper on my folio at all) but I fear that the cost of changing platforms would not be worth doing, additionally, I have found internaxx to be responsive and good....but yes, interactive brokers actually look very good.

  7. #47
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    thanks BeeBop
    Interactive Brokers (IB) definitely look a lot cheaper.

    re: service levels. Yesterday I asked the same question of both Internaxx and IB. It was a genuine question - whether they allowed trading of all AIM shares. I have some niche little holdings and I'd like to be able to add / sell them when I move brokers.
    I got a very fast response from Internaxx - yes. I also emailed a third player - Hargreaves Lansdown - who replied within a couple of hours. But 24 hours later, I'm still waiting for IB to reply.

    So I think my decision is coming down (perhaps unsurprisingly) to better service vs lower prices. I must be a tight-arse as I'm leaning toward IB (assuming they can trade all AIM).

  8. #48
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    Quote Originally Posted by jg8512 View Post
    thanks BeeBop
    Interactive Brokers (IB) definitely look a lot cheaper.

    re: service levels. Yesterday I asked the same question of both Internaxx and IB. It was a genuine question - whether they allowed trading of all AIM shares. I have some niche little holdings and I'd like to be able to add / sell them when I move brokers.
    I got a very fast response from Internaxx - yes. I also emailed a third player - Hargreaves Lansdown - who replied within a couple of hours. But 24 hours later, I'm still waiting for IB to reply.

    So I think my decision is coming down (perhaps unsurprisingly) to better service vs lower prices. I must be a tight-arse as I'm leaning toward IB (assuming they can trade all AIM).
    FWIW - I do quite a few AIM listed shares and have had no problems with Internal...although, I find it better to by 'at market' as some take days to fill due to low liquidity (e.g. EMR that struggles to trade some days as a lot of the shares are owner held). Had an issue buying SLI (standard life property investment trust) on the LSE three weeks ago, so phoned internaxx. There was a website problem so they filled it for me at their cost (i.e. paid online brokerage)...had a pleasant chat about life also!

    Sometimes being a tightarse helps you focus on every cent - even if the cost is not material. However, recently, I have loosened my tightness somewhat to get better quality e.g choice of airline and flight times!

    Best of investing to you.

  9. #49
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    Quote Originally Posted by jg8512 View Post
    Hi Jay and Silu
    is getting money out of a US broker (like interactive brokers) actually hard?. Looking at their website they say one free withdrawal a month, and given what you need to do to prove identity to open an account, I wasn't anticipating any issues getting money back home. Afterall you are transferring from your US broker account back to your NZ account?
    I've used IB for a number of years. Mostly money only goes in but yes it is easy to get money out again. If you have an Oz bank account too (I use NAB and NABTrade) then IB can be used to transfer funds into AUD and across to NAB etc.

  10. #50
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    Quote Originally Posted by kiwico View Post
    Mostly money only goes in but yes it is easy to get money out again.
    Why?

    Quote Originally Posted by kiwico View Post
    If you have an Oz bank account too (I use NAB and NABTrade) then IB can be used to transfer funds into AUD and across to NAB etc.
    Or NZ bank.

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