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Creating Australian broker account for non-residents

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Hi guys,

Would anyone advise me how can I do that? I called few brokers and they claim its impossible to do this in case I'm a non-resident. Actually its possible but for equities only + high fees($100+ per phone trade only) like Sch*.com.

But I'd like to trade options too. :p:

What to do? :confused:
 
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Re: Creating AU broker account for non-residents

Hi Jake,

I have accounts as a non resident with Comsec, National On-line and Ord Minnett. Never had any trouble setting any of them up with my address in China.

Ferret
 
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Re: Creating AU broker account for non-residents

Ferret said:
Hi Jake,

I have accounts as a non resident with Comsec, National On-line and Ord Minnett. Never had any trouble setting any of them up with my address in China.

Ferret
Wow, they are legally not allowed to market their products in another country.
 
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Re: Creating AU broker account for non-residents

Hi once again.

What can you tell about Ord MInnett - is it a reliable broker?
Is it possible to transfer funds quickly from US brokers to Comsec, NAB and OM?

And what about documents required to submit in order to open an account? ID, DL is ok, but where can I find AU bank statement etc(secondary ID's) if I'm not a resident??

Thanks in advance.
 

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