Many investors and traders wants to find greener pasteur when the market is falling down. Some may think of the US as a fertile ground for investing and trading while the local Philippine market is hemorrhaging. So how do you actually buy stocks of great US companies like Apple, Google, Facebook, Microsoft etc?
If you’re an OFW in the US, its an easier life. Just open a stock broker account near you and you’re off to the races. But what about people who live in the Philippines?
There are a couple of ways. One is to visit the US personally, and create a stock brokerage account while you’re there. If you plan on a vacation in the US, that may be a good time. Most online stock brokers in the US may allow you with some more added paperwork and higher minimum amount of deposit for the account. The last I checked was that most US online brokers require at least 500,000 pesos ($10,000) to open an account.
For the ordinary investor this might not work. Higher deposit might be too risky for them with a market that he may or may not be able to monitor accurately because you’re not living in the country (US).
But there is a solution. I found out this company that does the same thing. It allows you to invest not just in US companies but also in Australia, Canada and other countries. The only minimum deposit is $200 (10,000 pesos) which is a good enough starting point to get your feet wet into the US market.
How to deposit?
If you have a PayPal account, deposit is just a breeze. Withdrawal of funds is of the same way. You can also deposit money into your funds by Wire Transfer and Credit Card.
Is it Any Good?
Yeah. If you’re new to a market like the US. It may be hard to follow the news and happenings in that country. Not like living in the same country you’re invested in. So they have a feature like CopyTrade where you can copy other people’s portfolio instantly and their trades. While you sit back and perhaps read on more information as you try to get yourself familiar with the US market until you can do it on your own.
For a complete review of this platform, please read my eToro Review post.