Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

Community

Share knowledge. Find answers. Ask questions.

Online Share Trading

Engage and learn about markets and trading online

Direct Overseas Investing

Reply
Highlighted
Contributor
Looking to utilise my overseas investment allowance and wondering if anyone has experience with service providers. Have looked at the Std Bank offering and PSG but charges seem exceptionally high. Anyone have experience with Ameritrade? Any comments on ETF tracker like the iBillionaire from Direxion?
0 Kudos
Reply
2 REPLIES 2
Highlighted
Super Contributor
i concur with your view that it appears to be expensive to use sa brokers to invest in overseas stock markets.I have read that it is fairly simple to open up an overseas brokerage account>i inherited some shares and stored them with Equiniti -their system seems adequate and so far their fees do not appear too high .I must state that I have not used them extensively so I would research them carefully.obviously keep your records and in my opinion sars should be kept informed
0 Kudos
Reply
Highlighted
Frequent Contributor
Ive had some experience with Ameritrade. not too difficult to set up and the costs are low. all in all, took about 2 months from the start of the process until funds reflected in the account. Thereafter, its quick.
0 Kudos
Reply