How to buy stocks in US stock market from TnT?

[Allergic2BunnyEars]

Can anyone point me in the right direction on how to purchase stocks in the United States from outside of its borders?

[MG Man]

guess you can sign up with an online broker...

[cinco]

Can anyone point me in the right direction on how to purchase stocks in the United States from outside of its borders?

[MG Man]

yuh sennin de man india?
WTF

[Allergic2BunnyEars]

guess you can sign up with an online broker...

I've tried that but they ask for SSN or don't list Trinidad and Tobago as a country they allow to sign up with. I think that was Ameritrade at the time.

[Allergic2BunnyEars]

Just came across this article

http://guardian.co.tt/business/2011/03/ ... ock-trinis

"Several online brokerage facilities- TD Ameritrade, Scottrade and Options Xpress have placed T&T on Restricted Country List that they don’t do business with. Details weren’t forthcoming on when or why the country was placed on this list. Ameritrade told the Guardian it took this decision on December 2, 2010. (See Business Guardian) The decicion was taken before the Financial Action Task Force (FATF) met in France last week which determined that T&T was a jurisdiction which was not “making sufficient progress” with its compliance with FATF recommencations.

The FATF is a Paris-based inter-governmental body “whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing”. One of the requirements of FATF is a functional Financial Intelligence Unit (FIU). Aware of the country’s deficiencies in this regard, the banking fraternity met with Attorney General Anand Ramlogan last week. “As financial institutions operating in the international environment, T&T’s current status as a territory with strategic deficiencies in the anti-money laundering/countering the financing of terrorism framework, which has remained unchanged since February 2010, has impacted our country risk rating. Some member banks have reported that this categorization has already influenced their relationship with correspondent banks,” Scotiabank’s managing director Richard Young told the Guardian.

“Any elevation from this “gray list” could mean that local companies’ ability to transact business, particularly banking business with other countries may be severely impacted. This will affect both the private and public sector,” he explained. He said the longer that T&T remains on the list of countries identified as having strategic deficiencies in the anti-money laundering/countering the financing of terrorism framework, is the greater the stigma attached will becomes. He pointed out that small Caribbean countries that were described as “non-cooperative” by the FATF in 2000 such as St Kitts/Nevis, St Vincent and Dominica are still reeling from the effects. “It is therefore critical that the outstanding action plan items be speedily addressed and our sector stands ready to provide any assistance that may be necessary in this regard,” he said.

Young congratulated the Government on the appointment of a Director of the FIU which, he says, will go a long way towards fully operationalising the FIU, which is an area of concern for the FATF.
The issue was first raised by Diego Martin North East MP Colm Imbert on January 15. Imbert had pointed out that because of the Government’s failure to establish the FIU and banking regulations, a number of foreign financial institutions are refusing to open accounts and do business with people and corporations registered in T&T."

[MG Man]

hmm.............at least my forex broker hasn't done this
interestingly, one of the UK car magazine publishers I buy back issues from, wil not allow online purchases from T&T...we on some kinda blacklist......I always have to call to place orders

[ray d saint]

The only brokerage house in Trinidad that can trade in the US market is WISE.

you can contact:

Mr. Roshan Basdeo
628-9473 Ext 81015
roshan.basdeo@rbc.com

Hope this helps.

[Allergic2BunnyEars]

^^^^ Thanks

[Skanky]

WISE charges iirc US$20 per trade which is very high.

FCIB formerly CMMB well they have the worst service in the world,to go with their very high US$20 per trade.They changed their entire trading platform/broker from StockUSA to Pershing and didn't see fit to inform some of their clients,namely me and a few other people I know of.
So I contact them one day about a transaction then they like you weren't contacted about this yadda yadda here look some forms sign them up yadda yadda.
Stay very far from them.

There used to be Zecco but they recently merged with TradeKing. They will gladly open an account for you but it's a lot of paperwork to fill out or if you looking to start small and remain small FXCM also offers a brokerage service.

Good luck.

[TURBOT]

Www.tradeking.com I use it no complaints , a bit of paper work involved but it isn't bad. 1 vouch

[Allergic2BunnyEars]

WISE charges iirc US$20 per trade which is very high.

FCIB formerly CMMB well they have the worst service in the world,to go with their very high US$20 per trade.They changed their entire trading platform/broker from StockUSA to Pershing and didn't see fit to inform some of their clients,namely me and a few other people I know of.
So I contact them one day about a transaction then they like you weren't contacted about this yadda yadda here look some forms sign them up yadda yadda.
Stay very far from them.

There used to be Zecco but they recently merged with TradeKing. They will gladly open an account for you but it's a lot of paperwork to fill out or if you looking to start small and remain small FXCM also offers a brokerage service.

Good luck.

Thank you for the breakdown. I figured U$20 wasn't bad per trade as I don't plan to make trades too often but then I saw TradeKing's $5 rate. I tried to open an account with TradeKing a few minutes ago and a customer rep said this:

"Neal: At this time, we are unable to extend our services to individuals or entities that do not reside in the US. This includes U.S. citizens (with the exception of military personnel), who reside outside the US. We apologize for any inconvenience this may cause in the short term. We may expand our business internationally in the future. Please feel free to check in periodically regarding international expansion."

[Redman]

Interactive brokers for the win.

As of today they haven't kicked TnT out.



Republic securities handles us trading.

Commissions shouldn't be the first issue...
The relationship is important,responsiveness ,knowledge, and support the local firms offer -if that's your choice should take precident.

Raymond James might be an option

[fraggle]

Choice Trade and Zecco those are who I use.....stocks, options,bonds....nice interfaces.

[TriniAutoMart]

Any other recommendations for TT-based persons to trade stocks in the US?

[Xplode]

Unless you Know someone abroad and trust with citenzenship you can let them trade do business on your behalf . RBC bank locally ,the shares I have with them is computershare base in Canada when they bought RBTT years back you had a choice to sell or join computeshare RY stocks .

If I need to sell any of my RY shares ,Wise brokers deals with this , other brokers do this but I trust Wise the most ,you can negotiate the transaction percentage fee.

Op if you need or intrested in buying RY shares pm me .

[snatman]

First Citizens Investment Services has s facility that allows this.
https://www.firstcitizenstt.com/fcis/contact-us.html

If you do your own trading, Commission is .05% or $20 U$, whichever is higher. It will be more if they do the trading for you.

Sign up is easy, 2 forms of ID, utility bill, job letter, the usual.

After signing up they'll give you the info to wire the funds to the US.

Minimum investment is U$2500


Don't get into this, unless you know what you're doing. The market is nobody's friend

[TriniAutoMart]

Looking at doing smaller purchases about 8 times for the year.
Not willing to add $2500 at once.

Not interested in the RY stocks at the moment Xplode.

Choice Trade and Zecco seem ok at $5 per trade.
Anyone else use them or a similar service in the past 3 months?

[kandi_tt]

First Citizens Investment Services has s facility that allows this.
https://www.firstcitizenstt.com/fcis/contact-us.html

If you do your own trading, Commission is .05% or $20 U$, whichever is higher. It will be more if they do the trading for you.

Sign up is easy, 2 forms of ID, utility bill, job letter, the usual.

After signing up they'll give you the info to wire the funds to the US.

Minimum investment is U$2500


Don't get into this, unless you know what you're doing. The market is nobody's friend

FCB minimum is now US$5000.

Wise is TT$25000. and they have restrictions on what is traded.

Republic Securities - no minumim, but i was told that thier system is too slow for the kind of trading i want to do but i'm not sure as the guy tried to poach my money for his personal trading business.

Interactive Brokers online - they have a minimum of us$10000.

ChoiceTrade has accepted my application! there is no minimum but I've been trying to get this done for months now with one roadblock or another, i'm just waiting to see what's the challenge.


This thread is what lead me to ChoiceTrade...thank you!

[kandi_tt]

Choice Trade and Zecco those are who I use.....stocks, options,bonds....nice interfaces.

e
is there anything I need to be aware of from your experience with ChoiceTrade? My account has been approved and i now need to fund it.

[Redman]

Republic Securities - no minumim, but i was told that thier system is too slow for the kind of trading i want to do but i'm not sure as the guy tried to poach my money for his personal trading business.

Please expand on this...

[kandi_tt]

Republic Securities - no minumim, but i was told that thier system is too slow for the kind of trading i want to do but i'm not sure as the guy tried to poach my money for his personal trading business.

Please expand on this...

easy - he advised against using RBL securities as the system they use is too delayed for the stocks i am interested in, walked me out to my car and suggested i could give him my money to invest as he has an online account, a few actually. He did say he could show me how to do it as well.

[Redman]

ok what type of stocks are you interested in...
or is it the type of trading?

[kandi_tt]

ok what type of stocks are you interested in...
or is it the type of trading?

Penny stocks...which can turn quickly hence delayed trading can be detrimental..

[kandi_tt]

I really need some local feedback from any active traders who use choicetrade.com or any other sites that allow us to open an account here in T&T.

Thanks!

[snatman]

I'm with Etrade. What kind of feedback do you need?

WRT pennystocks......
no!
its the easiest way to lose ALL your money

[j.o.e]

I'm with Etrade. What kind of feedback do you need?

WRT pennystocks......
no!
its the easiest way to lose ALL your money

The easiest way to lose all your money is also an option to make money. It's the relationship between risk and return.
It may not be for everyone and requires knowledge, research and risk tolerance. Penny stocks can make you money of you have the ability to not lose sleep over market shifts.

[snatman]

personally i would never encourage a novice to dabble in penny stocks

[Redman]

ok what type of stocks are you interested in...
or is it the type of trading?

Penny stocks...which can turn quickly hence delayed trading can be detrimental..

Ok

I would trade LEAPS on big stocks.

more info...more liquidity and better transparency.

but do your thing.

[zorced]

1 year later guys, what platform or broker is working well for you here? I'm looking closely at some US markets this year and want to get involved.