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Author: byrchaos Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2365  
Subject: Re: Investing im Ausland Date: 9/5/2006 11:15 AM
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MindsI,
I've always been a buy and hold type of investor. Of late I have been buying some risky short term investments and taking small profits. I used Citibank for several years, but switched to ING-Diba last December. As a US citizen, I had nightmares with the way Citibank, Germany was doing the 1099 forms. ING-Diba gives me a higher interest rate on my "Extra Konto" cash while I look for stocks to buy. Most of my trades are under 5,000 euro at a time and I use limits so my total costs run between 10 & 11 euro each. ING allows me to pick the market and acutally see what the real time prices are as I place my trades plus they are quicker with reconciliations.
In the states I maintain a full service broker (Stifel), but most of my US colleagues use Scott Trade and appear to be happy with them. Personally I prefer to use the German accounts; I have access to US (and global) stocks I wish to buy / sell and feel more secure with the banking processes the European's use for Internet security. As a US citizen there are restrictions on European funds and some major trading rules against dealing with options. On the other hand, as a US citizen, many of the stocks I can buy outright here are sold at a higher price and held as ADR's in the states.
My neighbor here in Germany prefers Consors and although I have never used them I have seen their advertisements and their prices seem fairly competitive.

V/r,
byrchaos
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