sharetrader
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  1. #1
    Junior Member
    Join Date
    Mar 2017
    Posts
    2

    Default Seeking recommendations for best way to (infrequently) purchase US stocks

    Hi,

    I'm new to the forum and to stocks in general, and hope someone can help.

    I know this has been asked before, but many of the posts are old, and many international traders have stopped supporting New-Zealand residents (ETrade, OptionExpress).

    Can anyone give a recommendation for a good way to purchase US stocks.

    Largish volume, VERY low frequency (maybe once a year, maybe not even that).
    No need for time sensitive trading, no need for market analysis or any fancy tools.

    I checked ASB Securities, and they charge a percentage fee, and paying hundreds of dollars for a single transaction seems a bit harsh given others charge less than a tenth of that, but I may end up doing that just for simplicity.

    IB has a minimum monthly fee, so not really much better for what I need.

    Halifax has all the right fees, but people here don't seem too positive about them. I know they just resell IB, but they don’t have the monthly minimum fee. Would I be risking my money going through them? As I understand, they don't actually hold anything with them - is that correct?

    Any others I should check out?

    Thanks
    Jon

  2. #2
    Member BullishBear's Avatar
    Join Date
    Feb 2017
    Location
    Fabulocity Slave.
    Posts
    42

    Default

    Hey Jon, you could check out https://www.firstrade.com/content/en-us/welcome I remembered I set up and account after looking at the thread for US transactions yesterday, long process to set up with paperwork needing to be sent to the US for verification not sure if that has changed, and ave yet to transfer Funds have a few options though International Wire transfer looks to be the simplest. $4.95 per trade fees. very good from what Has been touted with other brokers. Good support, available on Chat or phone...

  3. #3
    Member
    Join Date
    Jan 2013
    Location
    Wellington
    Posts
    223

    Default

    I use Interactive Brokers - very cheap rates and easy to set up. There is a US$10 monthly charge if you hold less than US$100,000 although any brokerage fees go towards this. Note the shares are not held in your name though....

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