I'm a Canadian in the process of opening an account with an American online broker (Datek)I've also considered opening an account w/ a US discount broker. My preferred broker would be BuyAndHold.com, but they shun us foreigners. So I figured I would go w/ TD Waterhouse (US) with $12 market and limit orders. However, I haven't actually gone through with it yet, and would like to hear the experiences, advantages and drawbacks of Canadians using US discount brokers.I had taken a look at Datek, and their policies for foreigners seemed very restrictive and their extra fees outweighed the reasons for using a US broker in the first place.This is from Datek's web site:-It is highly recommended that all International Customers send checks drawn on U.S. banks. Checks from non-U.S. banks take two to four weeks to clear, and during that time Datek Online will not credit your account. All checks drawn on non-U.S. banks are subject to the following fees: $20 Fee - charged by our bank$8 Overnight Fee - charged by our bank$35 Fee (topmost) - charged by your bank$15 Fee (topmost) - charged by our bank Were you aware of this? Is it still worth it for you?Thanks,Shawn
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