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Author: TMFJazzysav Big red star, 1000 posts Old School Fool Home Fool CAPS All Star Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 196  
Subject: Re: On Line Broker for Foreigner Date: 11/9/2007 5:36 AM
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For non-US residents there are 2 brokers to my mind that that stand out from the rest:

1. e*trade, because they don’t treat you like an international terrorist as soon as you approach them (see Pat’s post above. I too have been deemed unclean by Ameritrade on several occasions despite being a customer of theirs since the Datek days of the mid-90’s – if changing broker was an easy affair I’d have gone to e*trade 5 years ago).

2. zecco. Free trades! Getting set up a little slow (~4 weeks in total), but it’s worth it for zero commissions over your investing lifetime. I reckon I’ve given Ameritrade ~$8k in commissions over the last 10+ years. It kills me to admit that but I’m older and wider, sorry wiser, now so a ‘trade’ for me is a decision I consider very carefully as oppose to a whimsical mouse click. I’d guess 80% of those commissions were handed over pre-2000 but nonetheless I’m still paying Ameritrade $10 every time I do anything.

Schwab are fine, but expensive.

The patriot act passed by W, post 9/11, has caused numerous (mis)interpretations by several brokers, however, they’re slowly defrosting and allowing ‘aliens’ on board.

My recommendation: www.zecco.com


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