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Any issues in trading US shares?

Discussion in 'Beginner's Lounge' started by Frankieplus, Jun 3, 2019.

  1. Frankieplus


    Likes Received:
    Apr 4, 2014
    Hi everyone,

    I'm keep to start trading US Shares.. (Beyond Meant in particular BYND on the Nasdaq, but that's not the point :)

    Can I trade US shares just as safely as I can Australia shares? Are there any tax issues or foreign exchange issues I need to be aware of when trading US?

    I opened up an Interactive Brokers account, everything seemed simple enough and I transferred a small amount of money to the cash account. All good with that.

    But once I buy US shares, if I make a profit and sell the shares will there be any issues in getting the money from my Interactive Brokers cash account back into mu Australian account?

    I'm an Australian Citizen from Australia, not an American Citizen, surely there has to be some issues involved with my trading US ?

    Any help with this is appreciated.

  2. cutz


    Likes Received:
    Aug 10, 2008
    No issues with money transfers, normally clear same day.

    Currency risk is the major issue you need to work with, you may be able to get around it by borrowing USD.
    Frankieplus likes this.

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