Can anyone help me with this question. There is an Australian company I am interested in investing a few thousand in. This is purely a speculative play. What I need to know is. 1 Are there any brokerage companies in the USA that can buy Australian stocks for me. Or 2 is there any law obstacles preventing me from opening a foreign account with TD waterhouse in Australia. Also if anyone has had experience with a similar situation please reply to this thread or e-mail me. Thanks
You might check with TD Waterhouse! I understand that Bank certificates of deposit are paying 4.5 to 5% interest in Oz. There are also some Oz closed in bond funds available here in the USA. jj
It is my understanding that you can open account with an Aussie based brokerage but not trade U.S. securities. Besides TD Waterhouse, Etrade also has an operation there. Schwab also has an international trading desk that covers a lot of countries.
you forget that it is a weekend and not everyone is around to answer your questions..... for a US citizen, etrade is probably your best bet for now. if you are looking for a local aussie broker, PM me and I'll send you a few recommendations on Monday. and yes, aussie dollar is earning over 4% now and the currency is looking very strong.
Do you know of an Australian broker that will allow Americans to buy AUS stocks. TD and E-trade will not do it.
I full service broker might. Although you'll probably get slugged about $40 bucks brokerage. And they may not be interested if you only have a couple of grand to invest? What is the company you wish to invest in and why? I've traded the Australian marketplace and you'd need a pretty good reason to justify the hassle. Runningbear