Hey you all, do you know a brokerage company for US stocks that allows funding an account with EUR and offers per-Trade commissions ? Interactive Brokers offers EUR accounts, but no per-Trade commissions. Lightspeed would be my favourite, they offer per-Trade commissions, but no EUR accounts. Same with Centerpoint Securities... So maybe I missed something and you know a brokerage company that offers both, EUR funding and per-Trade commissions ? Greetings, CALLumbus
I think Lightspeed allow you to fund your account from any currency account but those funds will be converted into USD. Or your bank will do this conversion for you( which i have done. when i send fund to my lightspeed account my bank have option to convert EUR to USD for a very small fee.This bank lost USD wire capabilities for a few month).
Hi RaghuRomeo, thank you for your input. Yes, usually it is possible to send EUR to most brokerage accounts, but if it is a USD account, the EUR funds will then be converted into USD. No matter if your bank does the conversion for you, or the receiving bank where the broker has the accounts, you usually lose some good money on those conversions, especially if you deposit substantial amounts of cash. And I also dont want to have toe much exposure in USD, so I would have to hedge that USD funds on that account. Because of this, what I am really looking for is a broker that offers me EUR accounts and per-Trade commissions. But it seems such a broker does not exist ?
Because I want to trade some size... If I buy and sell 5,000 shares per trade and commissions are calculated per share, then I have to pay something like 0.0040 x 5,000 = 20 USD per transaction. Of course it will be much better for me to have a per-Trade commission structure and pay something like 4.00 USD per trade.
Yeah but you didn't specify domicile (or should it be assumed that no US citizen has an EUR bank account?)