Can someone share their experience.
What is the best way to buy USA shares and which platform is good. I went to ANZ bank they don't have any service buying overseas share market.
Thank you
How Can I Buy USA Shares?
Winston D on 11/07/2024 - 08:59
Last edited 11/07/2024 - 09:58 by 1 other user
Last edited 11/07/2024 - 09:58 by 1 other user
Comments
You can buy an ETF on the ASX that hold US shares.
As unpopular as it is I'm all about tough love rather than coddling - and my concern seeing this post, which is about a matter thats pretty well documented & across a small number of service providers - but seeking guidance on OzB. Ok
Then how is the OP planning to determine the proper portfolio assets ….?
I suspect the horse is being put before the cart and would advocate reading https://passiveinvestingaustralia.com/ throughout BEFORE doing anything.
And yes as @JIMB0 stated, if you're simply wanting direct US exposure - there's many ASX listings that provide this even to the point of cross listed equities e.g VTS.
BUT if OP is sure they have their ducks in a row & just want a broker to facilitiate US exchange trades - Interactive Brokers are regarded by regular US traders as the best overall solution (FX costs can get out of hand with others). Of course 'best' is subjective - hence DYOR on the aspects you weight heighest.
last couple of years i am using CMC Market Stock Broking (https://www.cmcmarketsstockbroking.com.au/default.aspx).
it is a very nice platform. Currently there is no commission on trading in USA and few other stock markets. You can trade in multiple share markets - USA, Swiss, British, Japan etc. ASX there is no commission on purchase but sale attracts a flat commission or around 9 bucks.
Minimum amount to be traded is $1,000. It is very easy and gives you outside market hours trading options in US markets. They also offer nice reports and an easy to use phone app.
Would highly recommend using CMC.
its actually free for first trade upto $1000 per day
CMC Site says there's a 0.6% FX conversion fee for US shares per order, so that means you pay 0.6% in FX fees each time you buy and sell.That's around $60 in fees per $10,000 trade. If you buy $100k worth of Microsoft stock for example, and sell it, that's $1200 in fees already.
IBKR seems far better. That same $100k of Microsoft stock might cost US$2 in brokerage, and you pay a one time fee of ~AU$3 to convert AU$100k to US$65k. About AU$6 in fees all up, compared to $1200 for CMC markets. CMC seems like highway robbery by comparison.
100%
From purely a cost perspective, I don't think anything beats IBKR for AUstralian based investors. Hence somewhat naive that folks are advocating others referencing only a small part of the costs that make up a transaction i.e the brokerage.
I use CMC for ASX and IBKR for international.
I went to ANZ bank they don't have any service buying overseas share market.
They changed to CMC a while ago -> https://www.anz.com.au/personal/superannuation/online-share-…
What is the best way to buy USA shares and which platform is good
Superhero is pretty cheap per trade.
You move your money from AUD to your USD wallet and then all your trades stay in USD.
When you are ready, you move your money back from USD to AUD.
The main pro for me is you don't get hit with international currency transfer fees for each trade.
I had another share company that was AUD backed. So each trade buy/sell would be hit with a currency transfer fee from AUD to USD, then USD back to AUD.
Stake like other firms all have a FX margin they apply
Our flat FX fee of 70 bps applies only when you convert to/from USD
https://hellostake.com/au/pricingThen trade fees on top.
I have one of the big 4 trading accounts and it is AUD backed, so the FX fees get you on buying/selling when you want to flip shares. That is why I liked superhero, one FX fee to USD.
Superhero until recently had free trading for USA shares, so was nice to flip them for free. Even now its only a $2 dollars for trades up to $20k. So cheaper than hellostake $3. Once you get above $30, the fees are the same at 0.01% for trades.
I do like the Pre-market access hellostake offers. So might have a look at them!
Trading 212 is an international trading platform. Offering signup bonus promo: Deposit at least $1 for a Free Fractional Share Reward (Worth A$8-A$200)
Just had a look for you.
Trading 212 has 0.4% fx fee
Stake is 0.7% fx fee
CMC is 0.6%
Interactive brokers - can't find itJust a heads-up. CMC charges 0.6% on each buy and sell trade because they don't offer USD accounts.
For buy and hold it doesn't matter really.
Only if you are a "trader" it is a trade off.
That doesn't mean there is no fee. Nobody will hold a position forever.
Additionally, there is a 1%-2% buffer.
Nobody will hold a position forever
You haven't read just a book on the markets have you?
You are more likely to under perform the market if you trade frequently.
I can give you examples such as majority of the gains over the long term is provided by a small number of shares. Something like 6 of the best trading days give majority of the returns. If you miss those you under perform the market.
You have a trader mentality which something like 75% of traders lose money.
@netjock: All good. Mate. No need to argue further.
CMC will earn more regardless. Feel free to use it.
What is the best way to buy USA shares
Depends on which shares.
Looking for something stable returns like apple or toyota , im over 50's
Looking for something stable
Why not a managed fund then?
???
Toyota is not US listed & Apple is hardly a 'stable returns' equity.
Sorry but I think you need to do a lot more research as this feels like a putting the horse before the cart situation - not sure when one is 50+ (as I am near myself) learning an expensive lesson is much fun.
I'm going to self-correct here, Toyota's parent company is Japan listed but they are also listed in the US as TM.
Thats my mistake.
There is a lot of brokers that let you buy US shares the question is do you want 'direct' exposure or via and ASX listed vehicle such as an ETF (ie IVV)
Stake/CMC probably two of the 'cheaper' options for direct exposure
Thank you everyone!!
Schwab.
I use SelfWealth
Stake gives you direct access to wall st.
Webull. Still holding some TSLA shares earned last year. They start 24 Hour trading now.
Check out CMS markets or interactive brokers. You need to watch the currency conversion spreads because whatever you are paying less on brokerage might be going there!