From Phillip Securities Hong Kong "........there is a total of 23 foreign stock market that can be traded in our online trading system, including: - United Kingdom - Europe (EURO NEXT and Germany, Switzerland, Turkey, Finland, Ireland and Sweden) - Russia - China B Stock (Shanghai - B and Shenzhen -B) - India - Thailand - Malaysia - Singapore - Indonesia - Australia - Korea - Japan - Taiwan - Phillippines - Canada - USA (NYSE, Nasdaq and OTCBB) - Brazil Meanwhile, After clarifying with the appropriate department, within foreign stock market, only Singapore Stock, Thailand and USA stock (except OTCBB), is operating with no human intervention for SATS and POEMS system." After looking at various offerings I am planning on opening an account for access to Asian markets not covered by IB. Cheaper than existing broker I use for this purpose. Note not direct access and may be individual restrictions or requirements beyond just opening account with Phillip. Need to check if all listed stocks on exchange and secondary markets available e.g. Kosdaq, Taiwan OTC, for big Vig on currency conversion, tax situation Taiwan Korea, requirements for trading in e.g. Brazil, India, Malaysia etc
Most of these Asian brokers are very expensive by U.S. domestic standards, right? For trading, many people actually use CFD's rather than stocks to avoid stamp duty taxes. By the way Phillip is a well-known broker based in Singapore. http://the-international-investor.com/brokers/phillip-securities-hong-kong says: "The Hong Kong arm offers more markets online than the Singapore division, but less markets overall. International investors looking for an offshore account to trade Asian markets may do better through its sister firm or OCBC Securities in Singapore."
Most of these Asian brokers are very expensive by U.S. domestic standards, right? # generally Yes For trading, many people actually use CFD's rather than stocks to avoid stamp duty taxes. # UK in particular - maybe other markets (CFD writers make their money somehow - can be via overnight rates) #Checked them both and found HK the better one - at least for me. I use them in Thailand and have done for 10 + years If you know a US based broker that offers the above spread of markets I am all ears.
Agreed that U.S. retail brokers do not offer most of these markets, and in fact are not allowed to by regulators.
Right but for U.S. customers, these are only the limited SEC list of approved foreign exchanges which have obtained SEC approval. Also, (almost) no foreign stock options are approved by the SEC. U.S. residents cannot even trade most Canadian stock options. The SEC requires that each individual stock option listing be approved by it - not whole exchanges like stocks - and very few are because of the expense to qualify.
Found this screener - https://screener.co/ comparable with IQ and Bloomberg for making lists of stocks