Tom Gulczynski does not recommend swifttrade but recommends www.gomezadvisors.com For those that do not know who Tom is please go too techstocks.com
Topic: Guidelines for foreign investors (1 of 2), Read 116 times
Conf: The Cyber Investor - Hosted by Tom Gulczynski
From: Joaquin Dorantes (WebBoards@telescan.com)
Date: Thursday, May 21, 1998 07:56 PM
Hi Tom,
Would you give some guides to people from abroad as to how to go about buying stock?
I have barely started to pick some information and only stumbled with Form W-8, but how else is there to do as for transfers to buy, reliable brokers?
You advice will be greatly appreciated, regards and congratulations!
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Topic: Guidelines for foreign investors (2 of 2), Read 104 times
Conf: The Cyber Investor - Hosted by Tom Gulczynski
From: Tom Gulczynski (WebBoards@telescan.com)
Date: Tuesday, May 26, 1998 02:00 PM
Hello Joaquin.
If you're interested in trading in the U.S. as a foreign national you'll need to fill out and file the W-8 with the brokerage house that you'll be doing business. The W-8 will release the brokerage from having to hold back any money for taxes when you sell out of a position.
Setting up an account is similar to what anyone has to do in the the U.S. Decide on the brokerage you'll want to use for your trading, fill out the paperwork and send the money required to start your account. The money necessary to open an account varies with the brokerage house.
Once you have an account established you can begin trading. Your options are to call your broker, trade by touch tone phone or computer trading if they offer it.
You can do most of the research necessary to find a broker you want to work with by surfing the Internet. Most of the big houses have a web site. Fidelity.com comes to mind.
If you want to trade strictly by computer and get the lowest fees possible try www.gomezadvisors.com. This site specializes in rating the on line PC trading houses and does an excellent job helping you to find the on line trading vehicle that is right for you. Good Luck.
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