Broker account

By bernhardm, August 1, 2012

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Dear members!
Who can recommend me Candian (or American) broker?
Following requirments are binding:
Possibilty to open an account for an Austrian (non Canadian) via internet (plus transferring all necessary documents)
unlimited Internet access to the account
Easy money transferring (CAD, USD, EUR?)
Easy ordering (buy, sell, stop loss, limit…) of stocks in markets (exchanges) of USA and Canada
Very important: (Facility of) Participation on SDPs and/or DRIPs for Foreigners (e.g. Enerplus)
Thank you for helping in advance
Martin

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9 Comments on " Broker account"

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John
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John
August 4, 2012 11:20 am

Martin,
Interactive Brokeres is the real deal but reaching a real person requires patience.
I would reccomend having most of my money there with a smalller account at TD Ameritrade. Both have excellent margin rates if you have enough money.

Ray
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Ray
August 9, 2012 12:14 pm
Definitely Canada would be your better choice-US seems to have stiffer regulations for accounts for outsiders. Canada: Your best discount brokers are: Interactive Brokers: office also in UK and elsewhere; more for professional investor but commissions steeply discounted, you are on your own with little customer service BMO Investorline: nice user interface, good customer service, 4th largest bank, decent commissions TD Webbroker: more confusing interface than BMO, good customer service, same commissions as BMO, 2nd largest Bank If your purpose to open account in Canada is to participate in New Issue financings in small mining companies, then you have to… Read more »
blufox
Member
12
August 11, 2012 3:49 am
I have 2 accounts at Interactive Brokers which I use for all my purchases of foreign stocks in the countrys’ currencies. Their exchange rates for currency are the best as they do forex as well as stocks, options, et al. They are also one of the largest clearing houses in the world. Their rates are a bit higher than Fidelity on large quantity purchases but the difference is insignificant compared to the executions I’ve gotton and the ability to trade in stocks virtually anywhere in the world. I also have an account at Fidelity which is a different type of… Read more »
blufox
Member
12
August 11, 2012 3:53 am

Meant to add, Martin, that about 45% of my portfolio is in Canadian stocks bought on the Toronto and Venture exchanges which is why I use IB. I would think IB is available almost everywhere but you should check and see if it is available in Austria.
Interactivebrokers.com is the web site.

Ray
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Ray
August 11, 2012 12:18 pm
Interactive Brokers does not allow DRIP investment plans. Personally, I don’t like the idea of DRIPs in this type of market environment going forward for the next 10 years. It is similar in one respect to Dollar-Cost Averaging, however, I think a better way would be to by your (DRIP) stock through a discount broker whenever it is 2 Standard Deviations below the 20 day moving average. At least you can assure yourself that you will never be buying at the high (unlike a DRIP where you have no control). This strategy will work well when you have higher volatility;… Read more »
Ray
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Ray
August 26, 2012 12:21 pm

Yes, Macquarie is a very reputable firm, I know one of their mining analysts well in Vancouver. You should be in good hands with them.

Ray

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