Alternate Broker to Commsec for non-Resident Australian

[dinga]

G'day

I am an Australian citizen, presently living in Thailand. For decades I've had longer term share holdings [am not an active trader] with Commsec as the Broker.

Commsec has now advised me that they will no longer support me as my contact address & telephone number are outside of Australia.

While this is extremely disappointing, I'm now looking for a quality Broker to which I can transfer my equity investments.

Greatly appreciate all suggestions

 

[qldfrog]

G'day

I am an Australian citizen, presently living in Thailand. For decades I've had longer term share holdings [am not an active trader] with Commsec as the Broker.

Commsec has now advised me that they will no longer support me as my contact address & telephone number are outside of Australia.

While this is extremely disappointing, I'm now looking for a quality Broker to which I can transfer my equity investments.

Greatly appreciate all suggestions

Unsure if they can fit you in with your overseas address but Bell direct is by far my preferred option and i am closing my commsec accounts..and cba accounts as well BTW.
Contact them.

 

[ShareSuccess]

I have an account with "Stake" To trade both U.S & Oz stocks....very easy Platform to Sign up on & trade with!

Deposits & Withdrawl's have been Quick & easy!

.05% FX fees & $3 Trades upto $30,000

CHESS sponsored also!

 

[rolly1]

Yep Stake is good but being overseas maybe Interactive Brokers might be an option too. I have accounts at both and they are pretty good on the whole.

 

[frugal.rock]

Perhaps you could have a yarn to @UMike
I think he's tied up atm.

 

[Garpal Gumnut]

G'day

I am an Australian citizen, presently living in Thailand. For decades I've had longer term share holdings [am not an active trader] with Commsec as the Broker.

Commsec has now advised me that they will no longer support me as my contact address & telephone number are outside of Australia.

While this is extremely disappointing, I'm now looking for a quality Broker to which I can transfer my equity investments.

Greatly appreciate all suggestions

I'd agree with previous posters who recommend IBKR Interactive Brokers. You may need to check whether you can trade with $AUD, although I guess should you have an $AUD Bank Account in Australia this shouldn't be a problem. Many brokers insist on your home trading currency being just that, connected with your home.

gg

 

[UMike]

G'day

I am an Australian citizen, presently living in Thailand. For decades I've had longer term share holdings [am not an active trader] with Commsec as the Broker.

Commsec has now advised me that they will no longer support me as my contact address & telephone number are outside of Australia.

While this is extremely disappointing, I'm now looking for a quality Broker to which I can transfer my equity investments.

Greatly appreciate all suggestions

I have only got back today from Thailand...... Maybe catch up next time.
.
I traded Comsec No Probs. But our address is still Australia so maybe not rellevant.
As @qldfrog suggested. My SMSF was changed from mac to Bell Direct. Even from overseas they were very good to deal with even calling my Thai number as I cancelled the Oz One.
.
To be an Australian Citizen don't you need an Australian address? All my confirmations are pushed to me Via an App. It'll work anywhere in the world as long as you have internet access.

 

[dinga]

Tks for the suggestions - sadly both Stake & Bell Direct require Oz Residency.

I have an IB Account already, so guess that may be answer although I'd prefer to stay well away from US complications

 

[ShareSuccess]

Tks for the suggestions - sadly both Stake & Bell Direct require Oz Residency.

I have an IB Account already, so guess that may be answer although I'd prefer to stay well away from US complications

Silly question, but can't you just give the address of a relative or friend Living in Australia as a residency?

i have no idea on these matters, but thought i would throw that out there!

 

[dinga]

Don't reckon that'd fly as the ATO also has "Non-Resident" as my reason for Tax Exempt status.

 

[divs4ever]

Silly question, but can't you just give the address of a relative or friend Living in Australia as a residency?

i have no idea on these matters, but thought i would throw that out there!

if going that route , maybe into a trust account where the trustee is still Australian based but having the ex-pat as the beneficiary

but make sure you get proper legal advice on that

 

[dinga]

Tks - I want a simple platform that is compliant - even if a Trust works, my immediate reaction is that it introduces a complexity that I just don't need

 

[dinga]

Thanks for all the suggestions.

FYI I elected to not go with the charade of pretending I reside in Oz by providing an Oz address - but the simplest & (I hope) lowest risk of transferring my Commsec holdings to Tiger Brokers, Singapore [with whom I already had an account]. TB use BNP Paribas as their Custodian for Oz shares - BNP are a CHESS Sponsor with the downside that my shares are held in an "omnibus" account by BNP, rather than in my own name. The transfers occured easily & quickly