Hi folks, I am not sure if anyone has brought this up, but at the moment, I am looking to invest some in US stocks.
As I am still new in US stocks, I would need to start reading up more past data from the US companies.
Is there any PDF annual reports that I can refer to?
USD has somewhat more or less stabilised, and with the speculation that there could be a rate increase there, this should cause the USD to appreciate a bit higher. Converting some of my money to USD while waiting for my stock purchases there could be an option.
Any kind of opinion is welcomed for the sake of discussion.
Thank you for all your time.

maybe u can try the following :

Google Finance http://finance.google.com/finance

Yahoo Finance http://finance.yahoo.com/

MSN Money Central http://moneycentral.msn.com/investor/resea...wizards/SRW.asp


Lots of info available such as fundamental data, charting, news, sec filling, earning estimate, analyst rating, insider trading, financial results, etc


Hope it helps

Thank you for the very prompt reply. Do you trade in NYSE as well?
Any other replies are appreciated.

Yes. But not stock tho..... am in option

Are you based in Malaysia or US?
Do you do it online?
I am planning to trade some stocks there from Malaysia, but I am not sure how do I go about doing it.
I would like to know can a Malaysian open a savings account in US, without staying there?

Am based in Malaysia, but I travel quite often, as I can trade anyway as long as there is Internet access. Of course a reliable connection is critical.

Not sure why u need to open a saving account in US. Mind to share?

Basically I opened a few a/c with some broker in US, and it it not necessary to have any saving a/c in US in order to do so. Go to their website and register online and fund the a/c when u are ready to trade with real $. To fund your a/c, just TT $ to the broker after u initiate the instruction online from the website. Normally it take few days to credit into your trading a/c with the broker in US. The fastest I experienced so far is I TT today before 12pm and the $ is in my trading a/c the following days.

Same as u wanted to withdraw $ from the trading a/c with the broker in US into your a/c in Malaysia. Initiate the request online, and the $ will be TT into your a/c in few days time.

Any US broker u have in mind?

I'm not sure though, as I do not have any broker in mind at the moment.
Can you recommend one reliable broker?
So, we can do everything online, no need to be physically there right?
Do they pay interest on our money kept in their account?

Yes, u can do everything online, without physically be there.

Some of the brokers pay interest with your credit balance, but not all.

One of the best that I know is Interactive Brokers (IB)

I like their trading platform, they have web based, client server based and also mobile application. Damn fast execution and reliable.


Other broker that I deal with are are OptionsXpress (OX) and Thinkorswim (TOS) , but both of them are known best for option trader. Personally I prefer TOS.

For me, if I trade stock, I will go with IB (again, becoz I like their trading platform).

try to check out other as well, like etrade , Ameritrade, etc.

Try ask Mr. Google, he will be able to give u as much info as u want


All the best bro

This post has been edited by maxximus: Jun 12 2008, 08:04 PM

Thank you for the very detailed information bro
Again, one more question I would like to ask.
Do you have any idea if I could transfer my money from Paypal into my brokerage account?
I would rather use Paypal because it is easier and cost less.

No problem bro. Just sharing whatever I know.

As for whether u can use Paypal or not, I am not sure.

I would suggest u to check with the online help or use the search function at the website.

I am looking at TD Ameritrade and Interactive Brokers as maxximus has suggested. I would like to use TD Ameritrade for trading but I do not understand a few things, that I hope someone here could help me out. I am looking for ways to fund an account with TD Ameritrade, and I found these on its website:

Foreign Wire Transfers

Wire transfers that involve a bank outside of the United States are classified as foreign wires. Because these banks are not on the Federal Reserve System, an intermediary U.S. bank is needed. Along with the name and address of the intermediary bank, a SWIFT code or a sort code needs to be included. Third party foreign wires are not accepted.

So, what does this mean? How do I go about getting an intermediary bank in US? I appreciate all help and thank you in advance for your time.

Jordy,

As far as I know, most Malaysian bank has their own intermediary bank partner in USA. For example, Maybank's partner is Wells Fargo, I think. I used TD Ameritrade. But, I do not trade regularly. So, the commission level at Ameritrade does not bother me.

Dreamer

As dreamer said, most Malaysian banks have their own partner already. In my limited experience, when you fill up the form, pay attention to what you write in the instructions. Most likely it'll be something along the lines of FFC (for further credit) to <you> <your account number>. If you're using Maybank2u for TT, the comment line is too short for this info unfortunately so you may end up going to the counter. M2U is fast though, TT before 6pm will end up in a regular account on that same day.

I've used Ameritrade as well, they're pretty good. Currently trying out Zecco for their zero cost trades but the site is painfully slow so I can't recommend them.

Thank you dreamer and tishaban for your valuable input
So, what I should do is just go to the bank and enquire about it?
I don't really like the PB here because they are always confused with what I was trying to say. I will try to ask if there is anyone more knowledgable in this matter.

Since both of you have been trading in NYSE, how is the taxation like? I know there is a witholding tax of 30% on dividends in US, but do we get charged when the money comes back to Malaysia? What about capital gains tax there? I am afraid that I might be double taxed and end up with less/no gain

Thank you once again for the help.

Tax is the standard capital gains tax in the US, I file as usual and pay my taxes. I'm not sure how you would file your taxes since you probably don't have a SSN or tax ID, you'll have to check with a tax consultant.

To be honest up to now I have not declared anything in my Malaysian tax declaration since I don't bring the money back. If I understand the Malaysian tax laws correctly there is no double taxation, you're only taxed once.

Also don't forget fees/charges. TT to the US using M2U has I believe a 1% surcharge on top of exchange rates. I don't know what the charge is like coming in from the US but if you're going through the ATM then you'll most likely be hit by a 2% surcharge as well.

This post has been edited by tishaban: Jul 10 2008, 10:00 AM

Oh, thank you tishaban. I do not have a SSN or tax ID there since I have never visited US
But from my observation, having a SSN or not doesn't really makes a difference in the tax amount, is it?
Can we open a SSN without having any identification in US or even visiting US?
Since I do not work there, I don't think they would just allow me to open up a SSN there right?

It is okay for me to keep the money there, since I will be investing for a VERY long period.
I might be going over in a later stage for holiday, so I can use that money there
Saves the troubles next time, and I do not have to pay so much surcharges.
Kindly advise, and thank you so much!

tishaban,

<<If I understand the Malaysian tax laws correctly there is no double taxation, you're only taxed once.>>

1) No double taxation only apply IF Malaysia has a tax treaty with USA. Malaysia DO NOT HAVE a tax treaty with USA.

2) Malaysia TAX when you bring in the money. If you remit the money to a Malaysia TAX resident, it is NOT taxable now. You can remit to yourself if you are tax resident.

Dreamer

So dreamer, am I not considered a tax resident, since I am not working or paying taxes?
If so, how much is the tax rate for foreign income?
Can I just direct my remisier in US to keep the dividend in my stockbroking account instead to avoid the double taxation?

jordy, I think this is a question for a tax consultant, I don't know the answers. I know you can't get a SSN unless you have certain immigration status and if you don't plan to work or live there you won't be able to get one. At least you'll only be taxed at the federal level only, not at the state level

You can download the relevant IRS forms, compare the info from the regular tax forms vs. the non-resident tax forms. I think you're right though, it'll probably be the same.

i thought you just sign the W8-BEN form & that's it, you're clear. dividends will be held back for tax purposes though. no tax on capital gains as far as I've heard.

read more here:

http://invest-faq.com/cbc/tax-non-us-nat.html

& I think there's no problem wiring money straight to TD Ameritrade, you can even ask for a chequebook.

This post has been edited by zeusu: Jul 10 2008, 02:42 PM

Do you know where I can get all these taxation information from the internet?

IRS, H&R Block etc.

Again, thank you for the helpful information tishaban

Jordy,

We are TALKING about Malaysia TAX RESIDENT. We are NOT talking about USA TAX RESIDENT. To be Malaysia TAX resident, you have to be Malaysia Resident/Citizen and stay in Malaysia for more than 180 days during that calendar year. So, in general, you are Malaysia TAX Resident. Your remittance to yourself is NOT taxable.

Dreamer

Ah, I see Thank you again.
If there is anything else that I do not understand, I will post here again.

go for CIMB invest for US trade loh...u can pay by US or Sin

CIMB is local broker, so the transaction cost is not going to be high?
What about the tax on dividends if I trade with CIMB? Will I face double tax if I use its platform?
I am planning to retain all my dividends+proceeds in USD in US. I do not plan to bring the money back to Malaysia for at least 10 years.
That is why I hope that I can retain everything in my US stockbroking account.

This post has been edited by Jordy: Aug 3 2008, 03:19 PM

Alright, I have now between TD Ameritrade, Scottrade and E*Trade to choose from. As I have been receiving positive feedbacks on TD Ameritrade, I can be sure that it is safe to trade through them. Unfortunately, I have not heard of anyone using Scottrade and E*Trade, so I am a bit wary with their reliability. If I am not mistaken, Scottrade does not allow a non US resident to apply. Any comments?

Thank you in advance for all your opinion and comments

tax from dividend in us stock is 30% and
most broker such as ameritrade,IB, they all have account maintanace fee of usd 10 permonth, regardless of number of counter that u own,
most rediculous is some singapore banker charge custody fee for each counter, such as dbs vicker, uonkayhian, that going to hurt in long run if u own more than 20 stock. imagine singapore 2 singapore dollar percounter in us stock, no wonder most singaporean not holding foreign stock for long run
citibank also offer online broking with us stock with initial deposit not less than 5000 usd and minimal stock maintain in margin account not less than 10000 usd and monthly charges 2usd per counter, this banker are smart in making money leh, the bigger they are the bigger appetite they have,
but generally they are more financially sound, unlike scottrade some broking which have no investment insured, most bank in us insure their investor up to 100,000 thousand usd. so keep ure investment save in the bank. not too sure with ameritrade,scotla,

scottrade is the only one that doesnt charge account maintanance fee, but unfortunately they do not provide service to south east asian country, they have office in HK,TW,CHina,

cimb, osk, tar all offer trade with us stock just some offer self online order other not. but they all double charge customer and cimb all deal with ringgit account, who want to keep changing currency, bank are smart leh, earn currency exchange rate and comission once u trade us stock and need to fill domestic ringgit credit facilities as defined under control notice of bnm. need to check ure tax portfolio before trade.
if not careful everytime u buy and sell u probably lost huge part of portfolio to banker.

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Added on October 4, 2008, 12:10 amapart still some good stock at home land, well pbb well pay good dividend,
of course ko,c,pfe,mo,jnj,be,pg. those look more sound have business globally. with financial history over 200 year.
most malaysia stock just as old as country years of independence 50yrs
plus political instability and most stock here overprice and will suffer badly next quarter,
well that my prediction dont quote me if wrong

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Added on October 4, 2008, 12:13 amjordy so u are unittrust consultant?
mind i ask u something which stock u use to pick, i mean high ROE, with guaranted 15% yeild over years for past 10-20 yrs.
do u mind share,

i have account with IB, i dont mind hearing some oversea stock, nikkei, europe, india,hkse,indonesia, singapore

thanks first ya

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Added on October 4, 2008, 1:03 amdont be Interactivebrokers charge u for cancelling order,
no doubt system are superb.

This post has been edited by normanTE: Oct 4 2008, 01:03 AM