Which investment platform for investing worldwide?
Short background on my investing journey: started investing in stocks 2 years ago after having watched and tried to learn as much as I could along the way.
I’m Irish based in the Middle East which affords me the luxury of investing without Irish tax implications (which can be excruciating) and enjoying returns from investments tax free also.
I started off using DriveWealth for investing in US stocks which worked fine but limits me to US stocks only.
Now I want to expand my horizons and invest in Canadian and European markets, and probably others as my knowledge increases.
I’m hoping that the collective of Commonstock geniuses can answer the question: is there any 1 platform that offers a one stop shop for investing globally? I don’t really want to have multiple accounts if I can avoid it.
If this has already been covered, please point me in the direction of the discussion, thanks.
Great question, and I'm actually curious to see what other people say. My first thought for a one stop shop with international capabilities would be Interactive Brokers.
@nathanworden I just checked their website and you could be on to something. I’d be very interested to hear from people using Interactive Brokers, or other platforms.
Nice, I know @sammeciar uses IBKR— would love to get a review from him :)
And I think @pat_connolly uses IBKR as well
@nathanworden I have to say, @pat_connolly is the most Irish name I’ve come across on Commonstock 👍😁🇮🇪
Oh yeah?? Try Irish Born Investor! 🍀 @irish 😅😂
@nathanworden that @irish fella, I think he’s from my home county too, and he has the best handle on Commonstock
@nathanworden winning 😂
IBKR tends to have good access and be a global platform. The UI/UX sucks but it gets the job done and is cheap.
@investmenttalk Thanks Conor, I’ve actually been wondering the same thing @hag is asking since my brokers don’t do much in foreign markets.
@investmenttalk Haven't used it myself but I have heard same about IBKR's UI. Folks tend to have a bit of a learning curve. They do have very robust international trading capabilities.
I know you've probably done this yourself but I am plugging in the response from ChatGPT just so you can have a look at some potential global options.
1 Interactive Brokers: Interactive Brokers is a popular platform for global investing. It offers access to over 135 markets in 33 countries, and allows you to trade stocks, options, futures, forex, and more. It's also known for its low commissions and extensive research and analysis tools.
2 TD Ameritrade: TD Ameritrade is another popular platform for global investing. It offers access to stocks, options, ETFs, mutual funds, and bonds in markets around the world. It's also known for its user-friendly interface and educational resources.
3 ETRADE: ETRADE is a well-established platform that offers access to stocks, options, ETFs, mutual funds, and bonds in markets around the world. It's known for its low fees and user-friendly interface.
4 Charles Schwab: Charles Schwab is a popular platform that offers access to global markets and a wide range of investment products, including stocks, bonds, ETFs, mutual funds, and more. It's also known for its low fees and extensive research and analysis tools.
@joeyhirendernath thanks, I need to take time out to check out the capabilities of ChatGPT, I have yet to do any meaningful research on it.
So opening an IBKR account is a fairly straightforward process, waiting now for my funds to be transferred from my bank to the IBKR account and will see how it all goes.
Thank you all for the comments, and thanks to @nathanworden for the direction to IBKR, if it all goes tits-up, I can blame you 😁
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