Hi All, I want to get into few specific foreign stocks (mostly from Tokyo Stock Exchange but few european as well) that have no US ADRs. After some research I found only these two possibilities: - buy "grey sheets" (other-OTC) for these - pay Schwab $100 + 1.5% per transaction (rip-off IMHO even for long term) Is there any other option ? What is the structural risk in owning "grey sheets" of large cap foreign stock ? There is suprisingly little info on "grey sheet" trading (how it is done, what do I own in the end, laws governing "grey sheet" trades, etc.). Any help will be gretly appreciated !
If you want to diversify and trade Asia, there is another option: BOOM at www.boom.com.hk, a Hong Kong based online broker from which on can invest in several Asian market, including Japan. You take a currency risk as you will invest in the domestic money of the courntry you invest in, but you will enjoy the diversification and possibilities to invest in a vast range of countries. I use Boom for many years at I am satisfied of their services. I have no direct or indirect connection with them and no intesive to recommend them, but it was also a recommendation of Asia Business & Investment newsletter. For Europe you can also invest online through Boursorama at www. boursorama.com. By investing abroad you get a pretty nice diversification of your portfolio but do your own research
Your best bet would be IB http://www.interactivebrokers.com/en/trading/products.php?ib_entity=ca#global
pmajoernt, thanks, I'll check Boom, it may be just what I need gr8stock, IB does not offer individual Tokyo Stock Exchange stocks, only european ones