Hi,

I'm wondering if anyone knows how we can buy stocks on the US stock exchange? I know OSK has a service for this but the charges is very high, anyone know of any more effective way to invest in the US stock exchange?

you can try this Firsttrade.com . Can apply through online and fund the account.

I'm using InteractiveBrokers, the commissions is low, for 1 to 100 shares is usd1.00 and Options are usd1.00 per contract.

You can open the account online and fund your account via bank transfer. The minimun amount to start with is USD2K or 3K, I cannot remember. There is a platform for you to do paper trading as well.

Once you are ready, you can access the trading platform via web or Javaapps, real-time.

I don't work for them, no commissions for promoting them here.

root_y

are they reliable? I mean, I'm gonna transfer my $$ online to them, which I cannot see their office, broker in person, unlike locally I can pay a visit to OSK or HwangDBS...I'm sorta concern to transfer $$ online when I cannot 'see' or 'touch' them..hope u get what I mean

I have been with them for 3 yrs+ and they are already in the market for the past 30 years.

Hey thanks to JimJimKC and root_y for the tips. I'll take a look at these.

these are US based broker that i found from google

http://www.schwabat.com/
http://www.scottrade.com/
http://www.ameriprise.com/amp/individual/p...g/brokerage.asp
http://personal.fidelity.com/products/trad...tent.shtml.cvsr
http://www.mldirect.ml.com/
http://www.sharebuilder.com/
http://www.tdameritrade.com/
https://personal.vanguard.com/us/literature...forms/brokerage
http://www.troweprice.com/

interactivebrokers is the best, offering best tools, report generator, management tools and best rate!

only USD1 for stock and USD 0.7 for option.

Anyway, you need USD 5k to open your account.

http://www.interactivebrokers.com/en/gener...bout/awards.php

Other than interactivebrokers:

www.etrade.com.sg (i am using them, fee is high, $19.99 for 2000 shares)

www.optionsxpress.com.sg


They are both US brokerage firms with office branch in sg.

Welcome to US stock/option trading!

This post has been edited by cloud9_lee: Dec 20 2007, 08:37 PM

can one share the experience of US stocks investment? From open an online trading acc, transfer money, their way to store the shares contract (like our CDS acc), selling our shares on hand and how to transfer back to RM? I'm very interested to know about it.....

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Added on January 15, 2008, 5:32 pmno one sharing?

This post has been edited by AaronCjS: Jan 15 2008, 05:32 PM

To trade in US stocks market you can only start at night at 9:30pm or 10:30pm depends on the daylight saving.

Opening an account is not cumbersome, just go to their website and fill in all your details, to transfer money, just go to any local bank tell them you want to transfer to the account name provided by the US brokerage firm during you sign up your account with them. of course, bank will charges some fees

All the shares you bought will be in the account with the brokerage firm, and can be view via the online software they provided to you. From the software itself you can have the option to transfer the money back to any bank in Malaysia, and of course some processing fees.

Is that what you want to know ?

How bout GCI Trading ?

Hi guys. Does anyone of you guys subscribing any US financial/investment services like Morningstar or Motley Fool. I was just wondering is it really worth spending US150 per year for their services. Do share your opinion/experience.

This post has been edited by amirbashah: Jan 27 2008, 08:28 PM

"worth spending US150 per year for their services" as in all financial advise... nothing is guaranteed.. except berkshire hathaway, gold and oil

amirbashah,

I think you can pay USD $30 per year to join the Motley Fool board. It is worthwhile to join the board but avoid paying $150 for the newsletter.

I am in Mortley Fool and I have subscribed the $150 but it is not very useful to me.

Dreamer

Thanks for the advice. I'm sure you're a good/experienced investor, that's why there's no need for you paying USD150 for the newsletter . What about their stock advisor picks? How's the performance?

amirbashah,

I had moved on to "asset allocation model" and "lazy portfolio" approach. It is NOT WORTH my effort to spend that much time playing with stock market. I have less than 5% of my money as play money in stock market just for fun. I prefer to sleep at night and NOT thinking about stock.

<<What about their stock advisor picks? How's the performance?>>

Who cares?? You are asking the WRONG question. The GOAL is to manage your investment according to your financial goal and risk profile. Performance is so far down the list of what a person should be thinking.

Can your portfolio make money under all markets?? Can you go to sleep for 5 years without doing anything about your portfolio?? If not, you are NOT INVESTING.

Dreamer

Guyz, please take note on witholding tax when investing in US. The only thing not favourable for me to invest in US is they automatically reduce your dividend or any in lieu payment 30%. If you solely depends on dividend for your investment return, then too bad, 30% of your return will gone. Unless you're a US citizen or Tax Resident.

There's no way to avoid it, as, all broker required you furnish W8-BEN form when you open an account with them.

This post has been edited by keith_hjinhoh: Jan 28 2008, 12:56 AM

I thought it's tax free for investing stocks in the US? Do they charge you solely on dividend or how much you gain from your investment?

As keith mentioned, the tax is charged on your dividend income.
There is no charge for capital gain.
But I think investing in US will incur double tax?
I read it somewhere that we'll be taxed there, and if our money comes back to Malaysia, we'll be taxed again.
I forgot which article it is from

Jordy,

<<if our money comes back to Malaysia, we'll be taxed again.>>

Since 2003 or 2005, the law had changed.

A) If the money come back to a Malaysian resident, it is tax free.

B) If the money come back to a non-Malaysian resident, it is taxable.


A Malaysian resident is a Malaysian that lived in the country for at least 180 days for that calendar year.


Dreamer

Oh silly me, thank you dreamer for clearing my doubt

any of these broker for US stock is approved by malaysia government? and is protected under msia law? thanks

davehii,

I would trust US law MORE than than Malaysian law.

Dreamer

In US and some other western countries, capital gain is taxable, (if not mistaken 15%?), while in Malaysia, capital gain is not subjected to any tax.

sure you can say US law is more reliable or what. however we are malaysian and we have to obey the country law, and this apply to every countries in the world. the citizen will be taken legal act if do not follow the law. so anyone has the answer?

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Added on March 2, 2008, 7:05 pmhi, can you show me the webpage saying that the minimum starting is 3k? coz i cant find it. thanks

This post has been edited by davehii: Mar 2 2008, 07:05 PM

try mbtrading.com, min opening is 1k.

This topic was locked.
If you own VISA or MasterCard, must see !
http://forum.lowyat.net/topic/686634

chen9wei were asking how to buy stock in US.
chin20350 answered http://www.interactivebrokers.com.hk/en/main.php

to further elaborate :-
But i prefer http://www.interactivebrokers.com
or http://www.thinkorswim.com

many singaporean use http://optionsXpress.com

Pretty simple, fill up the online forms, print out, sign and fax to them.
Then TT the money to them, and you can start buying.

** DO THIS ON YOUR OWN RISK **

i paid RM4xxx.xx to learn about all these.

If you are serious, do your homework, evaluate the course out there... and choose one that you are comfortable with.
Rather than get crashed in the market without know how to drive your car properly.

---------------

also

SKY1809 were asking about this...

>>
You said you bought the shares at US $ 6x.xx but do not hesitate to recommend to forumers to buy at current price of US $ 84 ?

What is the logic behind. What is your target price and why ?

Investors rushed to buy TMI shares at rm 7.75 thinking much lower than DIGI .

These investors are suffering today.

A lot of credit card holders in US are in serious troubles today. They are facing actions from banks. Visa's business, bulk of them are from US ( as per above data ).

The writer is bullish , what I believe could have bought lot of Visa shares.
>>>>


As a good netizen ... one should be responsible to what he wrote.
I like to answer your questions.

1. Which sentence did i ask anyone to buy at 84? Did you intepret the msg wrongly?
2. It is a pure analysis and statement post.
3. I just said it has an upside of USD200~300 easily within 2 years time.
4. Guys here i believe have the intelligent to evaluate themselves what they want to do with their hard earn money.
5. I am purely sharing of what i learned thru my course, where KLSE is nothing compare to NASDAQ and US Market.
6. Cannot company TMI/DIGI with V/MA. One is apple and another is orange.
7. Do your homework before comment. Visa business have a huge economic MOAT. They are transcation fee based biz. They do not carry debt and risk. Banks carring the risk of CC holder default. They make money thru processing the transcations. Sure win biz.

I might be wrong.. but we are here to discuss and learn.
You all are taiko... with 898 post...
I am a newbie...but willing to share and learn and grow together
Yoroshiku Onegaishimasu...


Cheers,
shrimphead

** in case reader wondering what is Economic MOAT. Check out here www.investopedia.com/terms/e/economicmoat.asp

****
Pls do not judge ppl by what you think...
Why you think ppl intension is ABC.
That is you that is thinking ABC, not necessary that person is thinking about ABC. He might be thinking about abc, or 123, whatever...

Pls allow and give people a benefit of doubt first...

thanks for the info bro . Anyway, i heard my fren said he buy the stocks in US using etrade. Anyone tried before ?

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Added on May 8, 2008, 8:04 amIf i open an account at http://www.interactivebrokers.com.hk/en/main.php , is that mean i can buy stocks all around the world ?

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Added on May 8, 2008, 8:12 amQuestion solved, according to the website, it can trade over 70 markets in 17 countries.

This post has been edited by chen9wei: May 8 2008, 08:12 AM

you need USD10k to start IB.
ToS, you need USD3k only


google for TOP ONLINE BROKER...
you will find that IB, ToS, OptionsXpress are the top ....

you can find similar info at my blog also.... lazy to find which post already... google yourself.

This post has been edited by shrimphead: May 8 2008, 10:10 AM

use online discount broker such as ameritrade.
don't need much to open acct.

e-trade is simpler. you can even have a current/cheque account. You can ask for Cheque book. On top of that, you can have a debit card to cashout your fund thru local ATM.

Or simply issue E-trade US cheque and credit at local bank (cheaper but slower)

Guys, I just opened a few accounts (thinkorswim and optionsxpress) but haven't decided which one I should stick with. Just want to know which one is better? And could someone please teach me how to transfer money to the account? I think it's a bit complicated and I prefer the easiest and safest method. I'm currently subscribing to Motley Fool's stock advisor. I think it's worth spending RM300+ for the service. You guys should have a look Does anyone subscribing other services like Million Dollar Portfolio (Motley Fools)? Do share..............

This post has been edited by amirbashah: May 26 2008, 05:07 PM

go check poems.com.sg..

I heard about Motley Fool's stock advisor. Since I'm not into US market, so its worthless to subscribe it.

Well, check with their helpdesk. Basically, you need to wire the fund to their bank account. Use maybank TT to do it, fast and cheap too.
The same like withdrawal, you can request to wire the fund to your account (mind you the charges is killing, ie USD$25-35, depends)
Then need to convert base currency, ie USD or EURO to your local currency, lose again.

Not to mention the buy/sell brokerage fee, and hidden fees. But what scary about NYSE/DJIA is a share can jump 15-30% or fall by the same. In Malaysia, for example when counter like DIGI posted and announced 200-300 million and beat the market analyst, DIGI oni jump 2-3%.

When you calculate the time, effort, in the end might as well you pump a lot of fund and buy strong fundamental shares in Malaysia KLSE.
For example DIGI, NESTLE, BAT, PETRONAS, SIME, IOI.

All the best man!

http://www.consumersearch.com/www/internet...comparison.html

this good comparison
interactivebrokers=lot charges with inactivity, monthly fee, no doubt low commission and gateway to europe, asia market.

ameritrade; very high margin interest rate average 8.9-9%

http://www.tdameritrade.com/commissions.html#eq_internet
https://oxint.optionsxpress.com/welcome/bro...aspx?sessionid=
http://www.tradingdirect.com/compare/stock_trades.shtml


just one question how will you withdrawal fund from such account which one is easiest.
need to sign some document?

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Added on October 6, 2008, 12:36 ami have 3 account trading in us market, i thing going to sell all my stock and transfer to ameritrade, or INGsharebuilder lowest 9.99 pertrade which offer to non-us citizen, i am not active trader, since they not offer much inactivity fee, wonder anyone agree with me
to zaman, etrade charge 12.99 well i think that is expensive,
i am not a active trader.

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Added on October 6, 2008, 12:49 ami own some stock in us via uobkayhian,citibank they sort of charging inactvity fee 2 us dollar percounter, that gona hurt if more than 50 counter, anyway 1200 usd peryear.
well no doubt uob,citibank cant go bankcrupt, some sense of security.
what about this guy etrade, ameritrade, i am not sure.
zaman anything for a records

This post has been edited by normanTE: Oct 6 2008, 12:49 AM

HI GUY this two is over charge as compare to many more, but yet they are best in singapore, is there ameritrade scottrade in singapore?

No, there is no Scott trade or TD Ameritrade office in Singapore.

i contacted scottrade & tradeking they said no able to provide service to malaysian or singaporean, though they provide lowest around 4.50 and 7 dollar a trade.

i contacted itrade as well they said can provide same price as ameritrade at 9.99 per trade and abolish their quarterly 40usd maintenance fee, if i can keep a minimum of 50,000 usd in their account.
still dont quite itrade,

ameritrade respond very efficiently, email will reply in second, i kind of like their service but the problem is if i want to withdrawal money from such account, it be easier can go to their office in singapore right?

so what other us brokerage firm that have office in singapore, malaysia indonesia thailand, hk, atleast if anything going wrong can be there easily right?

i am really confuse now, which one to choose,
i definately prefer those us brokerage firm that have office in singapore at least i can transfer all the stock i have bought earlier in singapore brokerage firm to those us brokerage firm in singapore.

by the way uobkyhian pertrade is usd 40

any comment, need some suggestion.

It does not necessary to trade US shares through online trading. You can trade US shares through Malaysia broking firm such as OSK. Most importantly, you are serviced by a company dealer (company's remisier). If you are interested to know more, you are welcome to contact me for inquiries. My contact no is 0162677903, MSN : boonhan_choo@hotmail.com, email:boonhan_choo@hotmail.com

This post has been edited by boonhan_choo: Feb 10 2009, 08:48 PM

It does not necessary to trade US shares through online trading. You can trade US shares through Malaysia broking firm such as OSK. Most importantly, you are serviced by a company dealer (company's remisier). If you are interested to know more, you are welcome to contact me for inquiries. My contact no is 0162677903, MSN : boonhan_choo@hotmail.com, email:boonhan_choo@hotmail.com

This post has been edited by boonhan_choo: Feb 10 2009, 08:57 PM

The reason i am creating this post is to informed most investor who are interested to trade US market shares but doesnt have a clear idea of how to do it. I noticed there are quite a number of post in this forum regarding how to trade foreign shares. Basically most people doesnt aware that they can trade foreign shares such as US, Hongkong, UK, Aus, Singapore shares through local securities firm. This is because only a few local securities firm offers such service to trade foreign shares. I am basically an equities dealer representative from OSK investment bank berhad. OSK provides interbroke services to trade foreign shares which they have been doing for quite a long time ago. Currently there are hundreds over client opened a trading account with me just to trade AIG and citigroup shares. What it means by interbroke is that OSK will place an order for their client through our subsidiary in singapore which is DMG partners which then DMG partners will forward the client's order with US broking firm. The advantages of trading through interbroke services is that all your account is managed by OSK in malaysia and you are serviced by the OSK companies dealer representative(company's remisier). The different between interbroke service and direct trading is that you have somebody to deal with instead of dealing with US directly with no clear vision of what is happening and who is handling your account. With a person handling your account, you are able to obtain advises and also efficiency in all kind of complicated procedures that you might face. In order to trade foreign shares, all you need to do is just opened a normal trading account with OSK which is 2 in 1, that enable you to trade local and foreign shares. If you have any further enquiries about trading foreign shares, you can contact me through my handphone,email or msn.

This post has been edited by boonhan_choo: Oct 8 2008, 03:33 AM

How is the commision? In US, the commission is USD9.99 per trade. By the way, what is the exchange rate?

boonhan_choo@hotmail.com

most local interbroke ; double charge, not very attractive, i want to save cost, by eliminate commission fee,
www.zecco.com no commission fee, for those who interested cancheck it up.
scotrade; pertrade usd 7 with no maintenance fee or inactivity fee,
ameritrade pertrade usd9.99 an no minimal , inactivity or maintenence fee.
tradeking pertrade usd 4.5 and not sure got inactivity fee
optionexpress 14.95 per trade
interactive brokers; not sure per trade how much ?
but their is monthly usd 10 for inactivity fee, lot of charges
etrade;12.99 usd pertrade and quarterly usd 40 maintenance fee, not wise to own this account if less then 50,000 is account
fidelity 19.99 usd pertrade on of the top of the charges

well i think open with ETRADE.CM.sg just put usd 50,000 can get 9.95usd pertrade that fare, they have service center in singapore in uob plaza 1 , raffles place.

unless osk going to cut down their commission so as competetive as
scottrade, zecco, ameitrade, i wont mind open account with osk to trade us stock.

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Added on October 8, 2008, 1:16 pmsingapore bank such as uob,ocbc,dbsvicker average ; 40-50 usd pertrade
cimb malaysia; double charge here malaysia flat rm150pertrade plus us brokerage additional charges
osk,tarr security thru singapore securities same as uobkayhian,dbs vicker high charges
citibank sigapore; rate is 0.01% with custody fee usd 2 per counter

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Added on October 8, 2008, 1:22 pmif i not mistaken osk didnt charge minimal fee, inactivity fee, or custodian fee for us stock market,
what about pertransection
as if i bought 1000 share pg, at 70usd pershare , how much in total i will be bill?
and dividend i want in usd,? possible no right
and any dividend reinvestment plan via osk? NO right

thanks

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Added on October 8, 2008, 1:27 pmany margin account can put usd? if can what is the interest be like? can it be the same as in us bank interest

just sorry la osk, unless for ure side can cut down your fat commission and improve system is not ideal for us trading

This post has been edited by normanTE: Oct 8 2008, 01:27 PM

I want to trade in singapore stock market, any broker or bank recommend in malaysia? Currently i found hlebroking transaction fees for trading hk & sg stock http://www.hlebroking.com/v2/templates/foreignstkdet.html pls refer to it and tell me which broker still offer better rate compare to hlebroking, thanx!

This post has been edited by rstusa: Oct 8 2008, 01:58 PM

anyway i have been trading in US market more than half a year using the OPTIONSXPRESS. Their commission is extremely high compare to the other online broker but i am still very happy with it. Their user interface is excellent and i love it. Ask yourself, how many times are you going to trade per day and what's your target profit. If you are planing to buy and sell per day than you will need to choose a broker offer extremely low rate or else just choose a broker which is SAFE, Reliable & easy to use. There is a singapore office. When you submit document for new account application, you can send it to the SG branch. To start trading you still need to TT the money over to US.

it definately avoid high commission, for whatever reason, ofcourse optioexpress over charge,
i heard etrade provide credit card, bank check facility, very convenience, thinking of open that account, somemore near here, can going down from jb anytime. the only problem is not enough bullet or $ that all, orelse everything be perfect.

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Added on October 9, 2008, 12:58 pmrusa;

local bank only for trading local stock, not aboard,
singapore just go down singapore plenty securities to choose at competetive commision rate.
malaysia over charge.
same with hk.

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Added on October 9, 2008, 1:17 pmus been drop for last 7 day, look like they lost direction already
down open last night at -200 point and went up +150 and then went down again -180 point in 1/2 hour and next half +200
. can doing some short selling also damn profiting with 0 commission
with zecco

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Added on October 10, 2008, 12:30 pmwow zecco.com number one site for international trader,
i had read a lot of blog regard rude customer service and system down mosttime,

that no problem to me i trade when can i hardly do short selling, i dont need fancy webpage as etrade,IB,OPTIONEXP, i just need my order excecuted that all,
and as long money not missing that fine.

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Added on October 10, 2008, 12:31 pmif not today tomorrow also fine, i am not aggresive investor or speculator


This post has been edited by normanTE: Oct 10 2008, 12:31 PM

hi all,

i plan to invest in sg or hk stock as now the market value is dropping... i think now is the most suitable moment for this...
wat is the min amount? i m using my car loan money later kena tow...
also i will terminate my internet due to save living cost so is there possible to trade without internet?

Interactive Brokers Trading cost only US1

http://www.interactivebrokers.com.hk/en/main.php

You can trade anywhere in the world with just a phone call away.

But, using your car loan to trade stocks? Sorry but IMO, that would be a crazy idea.
You could lose EVERYTHING!

Playing with stocks is risky and you must be willing to lose it all if the market is bad
or simply the companies that you own is not performing.

Yes, market value is dropping but is like catching falling knives too.

This post has been edited by danmooncake: Oct 12 2008, 10:38 PM

well depend i bought 2000 share citibank at 13 usd now i earn 6thousand in least then 3 day.

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Added on October 15, 2008, 8:16 pminteractivebroker unless ure active trader otherwise lot of maintenace fee wo. inacivity fee monthly cost 10 usd.

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Added on October 15, 2008, 8:18 pmtry zecco.com 0% commission, if u are not active trader.

This post has been edited by normanTE: Oct 15 2008, 08:18 PM

guys... i am interested buying into us stock and i am attracted to the low commission fee that provided by online brokers...

i did contacted with the local broker which can provide buying US stock services but it is about 0.7% .... and i felt it is quite expensive but relatively safety than buying stock through online...

so my question is when we buy stock thru online broker... is that possible that the website brankrupt and we lose all our money that we put into thier website.... this is what am i worrying the most...

can some1 give some comments?? Thx

hi reposting from elsewhere if anyone is using firsttrade let me know your opinion bout it. i m going to open a new account, if wanna refer me please PM me

http://www.firstrade.com/public/en_us/welc...s/referafriend/

Where is your reply? Waiting for it

I have not traded in stocks before. I want to start buying some stocks. I've read some of the members here are making good profits from the US exchange. Compare to the local exchange, is not volatile enough to trade.

Could all please share the pros and cons of trading or buying US stocks versus Malaysia stocks? When should an investor invest in US stocks over the Malaysia stocks and vice versa?

Thank you.

boonhan_choo, did you read the first post? In the very first post I mentioned that OSK does allow people to trade in US stocks. Problem is, the commission is 0.7% + USD100 per trade + 4.x% in conversion charges from RM to USD and back to RM, so, unless I'm trading in huge amounts of money, it's not worthwhile at all.

This post has been edited by eXTaTine: Oct 25 2008, 11:13 AM

try zecco.com commission free for 1st 10 trading of the month

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Added on October 29, 2008, 11:32 pmyou subject to maximum tax 30% of anysort that earn thru dividend and capital gain from speculation

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Added on October 29, 2008, 11:33 pmmalaysia tax only 25% so lot cheaper compare with us


This post has been edited by normanTE: Oct 29 2008, 11:33 PM

A bit of a thread derail, but does anyone know how to invest in US mutual funds, like Vanguard's funds from Malaysia? I know local unit trust companies offer funds that invest in the U.S. and other countries, but personally, it seems to me that if I'm investing in the U.S. I should rely on analysts that know that market better.

Although you may not be able to trade stocks on the American exchanges, that does not mean you cannot trade American stocks. Just like the US exchanges trades foreign stocks such as Siemens, Sony, Nokia, etc. as ADRs (American Depositary Receipts), foreign exchanges trade many American stocks that are limited to trade on a specific exchange.

MyInvestorsPlace - trading, value, investing, forex, stock, market, technical, analysis, systems

Hi! NewB here. After reading the discussion posted here, would like to know from those who have / are using zecco.com on how's the cash withdrawal procedures. Thanks

For more on position trading, swing trading, and daytrading (contra) for US market, you guys can pm me for my msn. I have 10 years of experience in trading and will not mind to share my views and opinions.

Interesting Topic....

We have all talk about how much is it to trade & how to start trading.
However, how much does it cost to get the money out & how to do it?

Let's take a Scenario for discussion

I transfer USD 1,000 in an account under a US online trading company (etrade, americatrade, etc..)
Fast-forward 2 years... got lucky and made USD 2,000
I would now like to get my USD 2,000 back into RM in my local bank.

Any hidden cost? Transfer cost?...
Is there any option to transfer the money back from US account to Msia Bank?


Side question... anybody knows if we can invest Options in Msia?

Thanks!

Hey guys,

Im keen to go for regional stocks, so was considering POEMS. Anyone using POEMS here? Mind sharing whats your take on POEMS and any other alternatives?

Thanks in advance

I am looking to go to others regions share market ..

Targeting AIG - 1.20 , CITIGROUP 2.30 and GENTING INT (Singpore) 0.30

Will that be a bit low ?

Hi,

May i know how you wire transfer your money to a broker firm. Our local bank offer direct transfer money to beneficiary without an intermediary bank.

All broker firm in US needs foreign investor to wire transfer money to a US bank (intermediary bank) which hold the broker firm account. When the broker receive the money then they will fund your money into your account

One of my friend just opened a trading a/c with OSK for regional trading, he told me brokerage fees is minimum USD$30

Citigroup is now about $1, market cap is even cheaper than our PBB & Maybank...for long term investment, this should be a fairy good buy IMHO...

Futura,

<< Citigroup is now about $1, market cap is even cheaper than our PBB & Maybank...for long term investment, this should be a fairy good buy IMHO...>>

Who say so?? There is a strong likelihood that Citigroup will be nationalized. In that case, the share price will go down to almost zero.

Dreamer

Agreed, the only reason anyone would buy into Citi would be to speculate on short term developments like news causing spikes in the share price. No investor in their right mind would be touching Citi with even a 10 foot long pole at the moment.

On Thursday, the House Financial Services holds a hearing on mark-to-market accounting, blamed by some for sinking the banking sector. An alteration of the rule would have a big upside impact on banking stocks.

Check this out., http://www.cnbc.com/id/29549920

Can take a look at NYSE:FAS if u r interested in US stock.

alivecmh,

Come on. If a bank is only worth $1 and you adjust the accounting rule to let it reports that it is worth $5, how does THIS makes any different?? In fact, it will make it worse!!!

As an investor, I want a TRUE PICTURE of what a bank worth before investing. A blurrier picture just make me stop investing TOTALLY.

Let's have some common sense thinking here. People have LOST TRUST on accounting for banks. To earn trust back, you need TOUGHER accounting rule. Not a looser rule.

Dreamer

Hi,

May i know how you guys fund your account ? Investing through an online broker firm (non local broker firm), such as Ameritarde, OptionXpress and etc...As a foreign investor to them, how do you guys fund your account? Wire transfer?

This questions have been asked many times.. and answered too.

Yes, just Wire Transfer (TT) or mail a Bank Draft (cheque) to your new account that you've opened with them.

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Added on March 9, 2009, 9:51 amSure... they are dirt cheap..

Psst.. look at AIG, world biggest insurance and finance corp. It is only 35 cents..(RM1.30) per share. Wanna buy some?

This post has been edited by danmooncake: Mar 9 2009, 09:51 AM

Hi Danmooncake,

I ask my local bank to do wire transfer but it turns out that the wire transfer cannot be done due to US intermediary bank.

Money-->US bank-->broker firm--> your account (in the broker firm)

My bank assume it is a direct transfer from 1 account to the other without going through an intermediary bank in between.

Money--->Broker firm-->your account

What do you tell the bank? I told them the information require such as 2 account number , swift code and bank address. It turns out that they need only 1 account number which make thing weird.

Can't you make a direct wire to the brokerage firm? If you have your account number + swift code of your brokerage account, it should be able to get wired in immediately, no?

Hi elhh82,

As far as i am concerned, there is no direct wire transfer. The money has to go to US bank which hold the broker firm account. After the bank transfer money to the broker firm and from there the broker firm fund the money into your account.

find a new brokerage firm?

Hi elhh82,

Which broker firm did you go to? If i am not mistaken, almost all US broker firm require foreign investor to go through this intermediary bank.

i don't actually have a US brokerage account only a bank account.

don't you have access to your bank account via online banking? You can then make a transfer to your broker through it.

elhh82,

If it is that easy i would not have ask the question. I think you don't understand the situation. Is US that you are talking about and not some local investment bank.

thierry5259,

Why don't you talk or e-mail to your brokerage?? As far as I know, you can direct wire transfer to the A/C?? I always do direct deposit between my US Bank A/C and Brokerage account. And, the US brokerage A/C has the same Routing number and A/C number system that is accessible like the bank A/C.

I use TD Ameritrade. It is NOT the cheapest. But, I do not trade that much so it does not matter to me.

Dreamer

thierry5259:

If you can tell us which brokerage you're using, it may help us to understand why.

I am guessing your US brokerage doesn't take wire transfer, hence that why they require you to have a US bank (as intermediary) for transfer (via ACH). If this is the case, you may go about the snail mail way (by mailing a bank draft to them) if you don't have US bank account.

Btw, I use E-Trade and they take direct wire transfer.

I've dealt with many international transfers, and it's usually hassle free. It just doesn't seem quite logical for me that your broker is making you jumping through so many hoops for you to send money their way. So my logical conclusion was either that you missed something or that your broker sucks.

Find another broker as suggested above, or email the customer service contact and ask what they can do for you.

Is it Foreign Telegraphic Transfer also fall under wire transfer category? the online cimb acc only got Foreign Telegraphic Transfer service

yes, when you want to transfer overseas, fill in the Foreign Telegraphics Transfer form in m2u and you'll be done in less than 5 minutes.

i'm looking for local dealer...pls pm me...interested to buy US share...

DJ jumps like nobody business resulted by Citigroup CEO's memo saying that bank is profitable, sent their shares 34% to north and still increasing at the time of writing..

If only I had it in my portfolio when I mentioned Citi was a good buy few days ago...

I guess they're buying on this rumor..
IMO, Citigroup is very risky now even with the CEO statement - I don't believe him.
If their business is profitable, they should return all the TARP/TALF money.

Just wait for another 6 weeks, when the next quarter earnings come out..
if the losses hasn't increase, it will be a good sign... CitiBank will have further upside.

Good news.. is upstick rule is coming back afterall.

anyone bought FAS ?? surge 30% over.

Thanks

Citi is similar to Maybank in 1998, it's too big to file bankruptcy, look ahead 3 years from now, tell urself what is the price of it then?

That's y i wanna open ameritrade to buy citi for long term investment

Hey guys,

Okay so you are saying that you have successfully send your money to the US broker using FTT (Foreign Telegraphic Transfer).

Let's take optionXpress as an example .

U.S. Dollar ($) Wire Instructions:
JPMorgan Chase Bank, NA
Swift Code: CHASUS33* (International wires only)
ABA # 021000021* (Domestic wires only)
A/C 707660205 optionsXpress, Inc.*
F/C/T [your name here]*
A/C# [your 8 digit account number]*

Bank Address: (wires only - do not mail funds)
1 Chase Manhattan Plaza
New York, NY 10081


There is 2 accounts number provided but in FTT you need to fill in only 1 account number. Which account number did you fill in? Kindly look at CIMB FTT online application form (uploaded). There is no Swift code for me to key in. By the way, under the name of beneficiary's bank , you put the name of OptionXpress or JPMorgan Chase Bank in this case. I need to be clear of how you guy fill in the FTT application online like Maybank2U.


Attached thumbnail(s)

Yes, you're right. CITI is good for long term investment. The more you buy, the richer you will in the future.

Hey, I got some Freddie Mac and Frannie Mae to sell tooo.. very cheappppp..
Definitely those will make one richer than Warren Buffett!

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Added on March 12, 2009, 1:19 pmDude,

Look for IBAN..The IBAN is the same as SWIFT code.



This post has been edited by danmooncake: Mar 12 2009, 01:19 PM

Hi danmooncake,

If IBAN same as swift code then where do i key in the acount number? Care to briefly guide me through the FTT aplication form?

Demo with picture using maybank2u:

http://www.elitetraderfx.com/forum/showthread.php?t=8

Hope this help