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?
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
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.