Is It Smart to Trade in US Stocks if You Are Based in the Philippines?

Discussion in 'Hook Up' started by Cody Lim, Jun 9, 2016.

  1. Cody Lim

    Cody Lim

    Hi guys,
    I'm based in the Philippines and am planning to invest in the Philippine Stock Exchange. In addition, I also plan to trade securities. After searching around, I came across @Koi Broker's thread "Anyone traded in the Philippine Stock Exchange (PSE)?" @SwingToWin and @xandman gave excellent information in that thread about the cost of trading in the PSE, insider trading, and the lack of variety in stocks. @xandman's inputs really rings true. That made me think. Should I trade in a US exchange instead?
     
  2. d08

    d08

    Yes.
     
    Macca1 likes this.
  3. Jones75

    Jones75

    Double check to see if you become subject to U.S. tax laws

    I'm in Canada, and won't trade on the U.S. exchanges, because of being subject to U.S. and Canadian tax laws, and 1.28 exchange rate turns profits into a grind.
     
  4. OptionGuru

    OptionGuru



    • You only pay the buy/sell USD/CAD exchange rate - round trip it is negligible.
    • US trading hours are very good if you trade from Canada - especially the PST timezone.


    On a side note - the Philippines are in a terrible timezone for trading the US market.



    :)
     
  5. Why wouldn't you just keep your trading currency in USD? You only report to the CRA, not to the IRS and are subject to paying taxes as a Canadian only.
     
  6. i960

    i960

    Most definitely. There's also Hong Kong BTW (HKFE/HKEX). Trading at a higher timeframe also nullifies any timezone issue as well.
     
  7. OptionGuru

    OptionGuru

    IMO ........ The hours are too impractical to trade US Market in the Philippines. 9:30PM to 4:00AM local time.



    :)
     
  8. Cody Lim

    Cody Lim

    Thanks. And I'm glad that someone who is also currently in the PH responded. :thumbsup:

    I haven't considered that. I'll look into it. Thanks.

    The timezone differential is indeed something to consider, but I often sleep at 2AM. Extending it a few hours won't matter much, me thinks. I'm currently self-employed, and this allows me to sleep in until 11:30am :D I also plan on trading at a longer timeframe as what @i960 suggests.

    Trading at a longer timeframe was what I was also planning on doing--maybe two or three days depending on how I see the market. I wasn't sure about this at first, though. But now that you mentioned it... :thumbsup: Thanks for the tip on the HK exchange. I'll look into it, too.

    Since you mentioned HK, what do you think about Japan's exchange(s)?
     
  9. You can also try using a broker dealer outside of the US that offers US trading.
    You can also try using a broker dealer outside of the US that offers US trading. I've been trading with Tradezero, a firm out of the Bahamas, and I live in Colombia.
     
  10. Cody Lim

    Cody Lim

    Hi, @NYtrader920
    Are there advantages in using an online broker outside the US?
     
    #10     Jun 9, 2016