lacoste: Is it possible for someone living in a foreign country to trade, invest or buy shares on the NYSE?
I live in South Africa, is it possible for me to trade, invest or buy shares on the NYSE?
Answers and Views:
Answer by the man
yes it may be a little difficult for you to turn your currency into american dollars to do so but a great brokerage is td ameritrade since you speak english you could call them and ask them how you could set up an account and they probably would tell you
you should ask your bank, they would know what is the best brokerage to trade with or if possible on line.Answer by myself
Hey lacoste, I am a south african living in china and I’m able to do it. Go to the bank and they should set you up. ABSA or standardAnswer by m s
Yes of course, it’s very easy. Talk to your broker/financial adviser and you can have an account almost immediately. You may not get the tax credits that you get in many places for investing domestically (ie you may not be able to shelter these investments in your retirement savings plan).
Be sure to talk to a professional first so you know what kind of tax breaks you are passing up. These breaks combined with the higher transaction costs may mean you would have to get exceptional returns from American investments to compare with moderate domestic ones.
Another thing to keep in mind is that you are taking on a new kind of risk by investing in a foreign currency. This means that your investment could make 10% gains but the currency takes a hit and wipes out your gains so net you end up losing money because of the fees.
Happy trading!Answer by Zentheman
Absolutely..people trade from all over the world any market they want.
Depending on what you want to trade there is a broking
platform to use online.
You can also have your own broker.
To learn more about how you can trade go here:
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