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Gold/Mining/Energy : Capital Alliance Group - CPT (CDNX) -- Ignore unavailable to you. Want to Upgrade?


To: AriKirA who wrote (332)4/20/2000 10:24:00 AM
From: keith massey  Read Replies (1) | Respond to of 960
 
To: Charles Schwab

I am interested in opening an account with your firm to trade equities in foreign countries. Could you please provide me with a list of countries I will be able to trade in and the commission structure for the trades. In addition, I do a large amount of traveling and want to know my options for placing trades. Can I trade online through my labtop or do I have to phone in.

Thank You
Keith Massey

Mr. Massey,

Thank you for showing interest in Charles Schwab Canada. Please be advised that we are able to provide this service to clients, however, the system that we have is cumbersome and expensive. The fill reporting can take days and it can be expensive. You will be double charged on commissions, once through us and again through the brokerage house at the respective exchanges. While trading in your account, you have the option of calling in, or placing trades via the internet. If you have any further questions, please feel free to contact us at 1-877-660-6633.

Yours truly,
Mika Husband



To: AriKirA who wrote (332)4/20/2000 10:43:00 AM
From: keith massey  Read Replies (2) | Respond to of 960
 
I am interested in opening an account with your firm to trade equities in foreign countries. Could you please provide me with a list of countries I will be able to trade in and the commission structure for the trades. In addition, I do a large amount of traveling and want to know my options for placing trades. Can I trade online through my labtop or do I have to phone in.

Thank You
Keith Massey

Dear Keith Massey,

Thank you for your message. Although issues listed on foreign exchanges are not available through WebBroker (only major U.S. and Canadian exchanges can be accessed), you may be able to order securities listed on foreign exchanges through our team of international traders.

There are unique commission schedules applied to each specific country. Depending upon the trading scenario, there could also be special levies or securities exchange fees involved. The principal trade and any levies or exchange fees will be calculated in the relevant currency with a currency conversion applied afterwards (Canadian or U.S. dollars). Buy and sell orders are considered to be separate transactions for commission purposes, and all commissions are calculated in the currency of settlement (U.S. or Canadian dollars).

In Europe, you should be able to place orders for issues listed on exchanges located in the United Kingdom of Great Britain and Northern Ireland, Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Spain, Sweden, and Switzerland.

For the rest of the world, you should be able to place orders for issues listed on exchanges found in Australia, Hong Kong, Indonesia, Japan, New Zealand, Malaysia, Phillippines, Singapore, South Africa, and Thailand.

A good web site for foreign exhange listings and information is www.yahoo.com. Scroll to the bottom of the site, and select the country you wish to explore (e.g. U.K., Australia, etc.) Then click the "Finance"
link.

For complete details regarding the order process, please contact an Investment Representative at your local TD Waterhouse office, or dial a representative at 1-800-465-LINE.

Yours Sincerely,
Electronic Brokerage Services Help Desk
TD Waterhouse Investor Services


My comments:

Although they hinted at it (e.g. special levies or securities exchange fees involved) they did not come right out and say that their commission for foreign trading is also very high, although I have first hand knowledge that it is. Last night I used my TD Greenline acount to sell $19,000 of CDN on the Austr. exchange (CDM on CDNX). I had to go through 2 menus and a person to get to the foreign trading desk and was on the phone for over 10 minutes. I had to do this by phone since you can't use the online services to do foreign trades. The commission was $450. In addition to this cost, there is the also the currency conversion costs for the trade which I am sure will make me cringe. I still don't have the fill reported back in my account.

Best Regards
KEITH



To: AriKirA who wrote (332)4/20/2000 3:56:00 PM
From: Crazy Canuck  Respond to of 960
 
Thanks for the comments Ari!

Wow, your posts last night were impressive. The information, examples, and links you shared with us were very informative as well.

LOL, it kind of reminded me of a sailor on shore leave! You sure went to town. Good job there my friend.

Crazy Canuck