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 Global Trading Accounts, Investing in shares other than KLSE

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rosdi1
post Jun 9 2012, 10:42 AM

Cari makan
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Senior Member
2,211 posts

Joined: Sep 2009
From: Kuala Lumpur
QUOTE(gc68 @ Jun 9 2012, 10:04 AM)
Yeah, Malaysian share market has quite limited options.

We do not have any global companies that give good dividends and have strong track records like IBM, Google and Apple.
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I use Interactive Broker...USD 1 per trade and USD 0.75 per trade for options
opening of a/c USD 10K Margin 4 : 1
to day trade a/c must be maintained above USD 25K ( applied to all us based brokers)
rosdi1
post Jun 13 2012, 12:21 PM

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From: Kuala Lumpur
QUOTE(gc68 @ Jun 9 2012, 11:12 PM)
Thanks for the tip Rosdi1.

How do you manage your cash and foreign currency?

Do you have to TT the money to the broker in the US? Somehow TT rates are not very attractive.

Do you have to maintain a foreign currency account? If so which bank do you use? Maybank's foreign currency rates are not very good ....
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Yes I TT my fund to my account.with them .
They will deposit in the trust accout with the bank there.
You don't have problem to TT less than RM100K per year if not have to get Bank Negara approval
The cost of TT is generally cheap and cleared the same day/ next day there.
To make sure you don't get taxed you must not have any US address and you have to fill in the declaration form.
To cash out I asked them to TT back the fund but your tarding a/c name and your bank a/c name here must be exactly the same.
Good Luck to you.
rosdi1
post Jun 20 2012, 08:21 AM

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From: Kuala Lumpur
QUOTE(yokaze @ Jun 19 2012, 11:34 PM)
Hi rosdi1, I'm interested to open an international a/c as well (mainly US), but mainly for investment purposes. Don't plan to trade frequently. As such, Interactive Broker's minimum activity fees of USD 10 per month kinda negate their low commissions.

Do you know what other online brokers offer accounts for non-US customers? It's difficult to find a listing of such info... so far I've only found Zecco, and it's fee structure appears much more suited for my needs (no activity minimums, USD 5 per trade), but it also looks rather "immature" compared to Interactive Broker.
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Sorry I couldn't help you. I also have TD Ameritrade and option Express which I had stopped using.
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