Post: #1

Can anyone recommend me a good online trading account which allows you to buy a wide range of assets? The last I saw was "interactive brokers", but it requires a monthly subscription fee and is more designed for active traders.

Specifically I want an account somewhere like Singapore, which is online, has no ongoing fees, and allows you to buy a wide range of assets (e.g. stocks and index funds from a wide range of countries, including developing ones).

My intention is for investing (i.e. not trading often).

Any insight would be great thanks.

Post: #2

(12-28-2014 05:30 AM)Phoenix Wrote:  Can anyone recommend me a good online trading account which allows you to buy a wide range of assets? The last I saw was "interactive brokers", but it requires a monthly subscription fee and is more designed for active traders.

Specifically I want an account somewhere like Singapore, which is online, has no ongoing fees, and allows you to buy a wide range of assets (e.g. stocks and index funds from a wide range of countries, including developing ones).

My intention is for investing (i.e. not trading often).

Any insight would be great thanks.

Look at :

OCBC Securities in Singapore - http://www.iocbc.com/

Monex Boom Securities in Hong Kong - https://www.boom.com/en/

TD Direct Investing in Luxembourg - http://int.tddirectinvesting.com/

Post: #3

(12-28-2014 05:30 AM)Phoenix Wrote:  I want an account somewhere like Singapore

Why? If you are not a resident of the UK or the US, you can just as easily open accounts there without incurring any tax obligations those countries. You'll get a better choice of instruments and software in NY or London than you will in Asia. A lot of the Asian brokers require original application forms too; elsewhere you can open an account with scanned docs.

Post: #4

(01-27-2015 11:04 AM)DaveR Wrote:  

(12-28-2014 05:30 AM)Phoenix Wrote:  I want an account somewhere like Singapore

Why? If you are not a resident of the UK or the US, you can just as easily open accounts there without incurring any tax obligations those countries. You'll get a better choice of instruments and software in NY or London than you will in Asia.

I doubt the accuracy of this information.
Also I previously had a trading account based in US, but the Dodd-Frank Act basically neutered it, and the company recommended all its clients reopen their accounts in their Singapore division. Also Singapore has zero tax on investments - an attitude I find appealing.

Post: #5

(01-27-2015 02:20 PM)Phoenix Wrote:  

(01-27-2015 11:04 AM)DaveR Wrote:  

(12-28-2014 05:30 AM)Phoenix Wrote:  I want an account somewhere like Singapore

Why? If you are not a resident of the UK or the US, you can just as easily open accounts there without incurring any tax obligations those countries. You'll get a better choice of instruments and software in NY or London than you will in Asia.

I doubt the accuracy of this information.
Also I previously had a trading account based in US, but the Dodd-Frank Act basically neutered it, and the company recommended all its clients reopen their accounts in their Singapore division. Also Singapore has zero tax on investments - an attitude I find appealing.

None of that makes any sense. Your tax obligations arise in the country in which the profit is made (where the investment is issued, not where the broker happens to be incorporated or based), and the countries in which you are tax resident.
If you wish to take advantage of Singapore's tax regime, either yourself or your investment vehicle (company, trust, etc.) would have to be resident in Singapore. The UK and the US also have zero tax on listed investments for non-residents, just as Singapore does. US-based brokers collect a declaration form for the IRS (W8-BEN) for designating a brokerage account non-resident. In the UK it isn't necessary for brokerage clients to declare their residency status.

Based on what you have written, it sounds like you need to talk to a tax accountant before opening an account.