Hi there, I wanted to ask your recommendations for the best place to trade foreign stocks online as an Australian resident (I am a permanent resident, foreign passport holder). Primarily interested in Asian markets and Nasdaq. Thanks in advance for your help!
Trading Foreign Stocks
[Deactivated] on 20/04/2018 - 23:16
Comments
Yep, you've said all that needs said. Agreed.
Don’t worry about stocks just goto your local pub and play on the pokies
It's always amazing to me how little people value their time to write things like this.
Touché
Check out stake.com.au
I use IG Shares for my international stocks which I plan to hold. $10 USD per trade in the US markets
Or maybe something like Plus500 if you want to play with CFD/Options
Interactive Brokers - 0.005 cents per share in US (so basically $1 or $2 for most trades) and some of the best FX conversion rates around. I have been using them for many years now, trading ASX and US. Ability to trade AU/US Shares or CFDs from the same platform.
I'm concerned about what you mean by "trading". Transaction costs, foreign exchange spreads and the costs associated with moving money into the correct country are all huge barriers to entry in terms of trading. I would hazard a guess and say that even if you could make decent above-market returns, most of that will be absorbed by the costs you incur with international transactions. Obviously if you intend to buy and hold long term then that's another matter, but I wouldn't suggest active trading unless you're doing so on a large enough volume.
Better option if you want foreign exposure is to find an ETF that has an investment in the market that you like. E.g. if you're interested in Asian emerging markets, there are ETFs which specialise in that area and are publicly listed on the ASX. This makes them much easier to buy, cheaper to deal with and foreign exchange risk is sometimes hedged (if that's what you're after).