The title might become a bit more clear as you read my situation. I am currently living in Australia, and I want to trade in the US stock market. As far as I can find, reputable international brokers either have low brokerage fees and insane bid-offer spreads for forex, or they have high brokerage and still high bid-offer spreads.
I currently use Nabtrade, and even though their service is such that I do not own the shares I buy, I still lose around 2% if I buy and sell immediately from exchange rates alone, on top of brokerage. This is especially relevant to me since I normally trade on the scale of days or weeks, rather than years (please do not try to convince me that short term trading does not work; I have been able to pull it off up to now at least).
There are shady brokers which offer decent rates, but I want to keep those as a last resort.
My idea for a solution is to exchange a large capital to the target currency once and trade from there. Then I do not need to count in a bid offer spread every time I make an order. Is there any way to do this without a foreign residence and bank account? (i.e. are there brokers who do this?)
Submitted January 03, 2017 at 03:28AM by InoriSky http://ift.tt/2j3cDfR
