Interactive brokers vs optionsxpress
I want to trade only a few times per year and hold US securities, particularly tech stocks, conglomerates and ETFs. My research thus far has illuminated Interactive Brokers and optionsXpress as potential brokers, but I'm eager to read about alternatives. How is the process for depositing and withdrawing funds between an Australian bank account and IB? How does holding ASX: Are there any intrinsic fees, costs or other inefficiencies to holding a CDI?
Is there any way to avoid paying any US withholding tax? There interactive brokers vs optionsxpress no restriction on opening an account with an American broker directly, and I think you should look at that. The only hassle is transferring money internationally. I don't think there is a single broker who allows both ASX and US trades at a competitive price, so having two accounts is the way to go, in my opinion. The paperwork to open the account is a bit over the top remember it when people are telling you how good Americans have it with their lack of regulation!
My broker mailed it to me each year. Most years it went in the bin if I had no income to report, and nobody ever contacted me in any way about it. But again, Interactive brokers vs optionsxpress wasn't earning dividends most years, so I expect it would be different if you had any meaningful dividend income. This is a bit of a specialist question, I'd suggest posting it on Hotcopper or another investment forum where you will get more replies from active investors doing what you are wanting.
Would it make sense to sell and re-buy around special dividends to avoid US withholding tax? Does that have to be a CGT event? Even still, it could be a beneficial tactic if no more than one special dividend is paid within a year. Thanks, I plan to. But I respect the community here and have seen Interactive Brokers mentioned by a few users, so hopefully they find their ways here and share their experiences.
They do the paperwork and present an after-tax position so I don't have to do any of interactive brokers vs optionsxpress, and the income statement just goes off to the accountant like a dividend statement. I haven't got one to hand or I'd take a look and see how each part is worded. I have found them OK, but they have limited liquidity, so the spread can be painful, and they obviously focus on a sector or index so they might not cover the specific equities you want, or conversely include some you rate as dogs.
I don't think you could do well turning over equities to avoid the dividend, it is possible it might even breach the ATO tax rules as we tax income higher than capital gains they might view it as trying to take gains as capital rather than income, but I'm speculating. In any case, transaction costs and the hassle of recalculating and paying CGT probably makes it interactive brokers vs optionsxpress trouble than it is worth. And remember, any withholding tax you pay is credited against your Australian tax bill, so you won't be double taxed although this is obviously still a problem if you don't pay AU tax!
Have you tried speaking to a US discount broker recently? Most are unwilling to touch accounts for foreigners or americans living overseas.
FATCA interactive brokers vs optionsxpress has interactive brokers vs optionsxpress it almost impossible. Very low liquidity so the spread is a bit crazy. But most of the time the price tracks quite well with the USD docimiled subject to the fx market. Betashares has the nasdaq interactive brokers vs optionsxpress ASX: NDQinteractive brokers vs optionsxpress could work for you. All trademarks are owned by their respective owners. OzBargain is an independent community website which has no association with nor endorsement by the respective trademark owners.
Do US brokers typically accept Australian clients? Comsec is reasonable for people only trading a few times a year. That fee is waived for accounts above a certain Net Liquidation Value. They're much more expensive than IB: Multiply it out and see how much interactive brokers vs optionsxpress it actually makes. You're better off spending time on your interactive brokers vs optionsxpress strategy, than minimizing brokerage.
Commsec would cost hundreds per trade. IB would cost only a few dollars per trade. I really just want to buy and hold growth securities, but have the freedom to change securities. That's a significant component of their appeal to me. So do I, I gather yours are domiciled domestically? Advice and General Discussion.
The website does not provide investment services or personal recommendations to clients to trade binary options. Information on BinaryOptionRobot. com should not be seen as a recommendation to trade binary options or a be considered as investment advice.