Online stock brokers in Singapore

[GSM8]

Looking for experiences/suggestions/pros-cons for online stock brokers who will open trading accounts for US citizens living in Singapore, who do not have a US mailing address

Charles Schwab used to but now they are shutting shop and closing existing accounts. One alternative seems to be TD Ameritrade but their fees are relatively high ($10.95/trade) and only deal in US stocks. Saxo Markets and Interactive Brokers seem to open accounts for people living in Singapore and deal in US stocks as well as some other exchanges, but do not take on "US person" clients (as well as not citizens of North Korea, Sudan, Cuba, Iran, Syria).

Appreciate any experiences/suggestions/pros-cons for online stock brokers who will open trading accounts for US citizens living in Singapore. Thanks!

[PNGMK]

Have you tried Vickers and the other local brokerages?

[GSM8]

Thanks PNGMK. I'll check the local brokerages also. Not expecting they will though, because when I moved here 6 years ago, DBS, POSB, Stanchart refused to open even a bank account (teething uncertainly with FATCA probably) and only Citibank and OCBC did. I'll update this thread if things have changed.

[PNGMK]

Ok I've an US friend here who day trades. I've reached out to her to see what platform she is on. It's a real shame you can't use SaXO as they have just adjusted prices downwards for VIP and premium customers.

[GSM8]

Ok I've an US friend here who day trades. I've reached out to her to see what platform she is on.

Thanks PNGMK. Much appreciated.

[maneo]

Looking for experiences/suggestions/pros-cons for online stock brokers who will open trading accounts for US citizens living in Singapore, who do not have a US mailing address

Charles Schwab used to but now they are shutting shop and closing existing accounts. One alternative seems to be TD Ameritrade but their fees are relatively high ($10.95/trade) and only deal in US stocks. Saxo Markets and Interactive Brokers seem to open accounts for people living in Singapore and deal in US stocks as well as some other exchanges, but do not take on "US person" clients (as well as not citizens of North Korea, Sudan, Cuba, Iran, Syria).

Appreciate any experiences/suggestions/pros-cons for online stock brokers who will open trading accounts for US citizens living in Singapore. Thanks!

Have you considered using a friend's address in the US to open your account?
No need to receive mail there -- just opt for electronic notifications & e-statements.

[GSM8]

It might be a last resort if other options don't work. Strictly speaking its not legal and one needs the US address to maintain the account, not just open it

[GSM8]

Have you considered using a friend's address in the US to open your account?
No need to receive mail there -- just opt for electronic notifications & e-statements.

It might be a last resort if other options don't work. Strictly speaking its not legal and one needs the US address to maintain the account, not just open it

[maneo]

Have you considered using a friend's address in the US to open your account?
No need to receive mail there -- just opt for electronic notifications & e-statements.

It might be a last resort if other options don't work. Strictly speaking its not legal and one needs the US address to maintain the account, not just open it

Am not sure what you are referring to as "maintenance."
I had an OptionsXpress account, which became a Schwab account for well over 10 years.
Just need to have a good friend that doesn't move around.

[PNGMK]

My friend doesn't seem to have a problem. She uses a US address.

[GSM8]

Further to the conversation in this thread, 2 brokers that allow US citizens living in Singapore to open trading accounts are: TD Ameritrade (more user friendly interface but higher commissions); and Tastyworks (a bit complex to use,targeted at options traders, but lower commissions)

Both are registered with MAS and accept a Singapore address (as opposed to a few other brokers mentioned earlier in this thread which require a US address and strictly speaking don't support individual investors in Singapore)

[PNGMK]

Thanks