Desperately searching for ways of becoming the custodian of my international shares

[Immy]

Hi guys, sorry if this question has been discussed here before, but I couldn't find any relevant and helpful info, so I thought I would ask the experts myself.

I am new to this whole investment game, I know what I want to buy, but I want to actually own those shares instead of trading CFDs. It is like investing long term being on the safe side by trying to avoid the dangers of the derivatives market.

I am looking for a platform, a brokerage, or anything really that I can use to buy those shares without massive monthly costs, as I might not buy or sell anything for months, but there again, I want to own those securities with my name on them. I want to buy US., Canada, EU., and Asia.

I just cannot believe that there is no way of doing it in Australia.

Helping me out here and showing me directions of doing it would be greatly appreciated.

Thanks.
Immy

 

[Gringotts Bank]

Re: Desperately searching for ways of becoming the custodian of my international shar

Hi guys, sorry if this question has been discussed here before, but I couldn't find any relevant and helpful info, so I thought I would ask the experts myself.

I am new to this whole investment game, I know what I want to buy, but I want to actually own those shares instead of trading CFDs. It is like investing long term being on the safe side by trying to avoid the dangers of the derivatives market.

I am looking for a platform, a brokerage, or anything really that I can use to buy those shares without massive monthly costs, as I might not buy or sell anything for months, but there again, I want to own those securities with my name on them. I want to buy US., Canada, EU., and Asia.

I just cannot believe that there is no way of doing it in Australia.

Helping me out here and showing me directions of doing it would be greatly appreciated.

Thanks.
Immy

Etrade.au will let you buy shares in US companies. Comsec as well, I think.

Brokerage is quite high but that won't affect you if you're a longer term investor.

 

[sinner]

Re: Desperately searching for ways of becoming the custodian of my international shar

I have an account with MB Trading.

I think it's 7USD per month for data fees and 5USD a month if you don't make any transactions that month, if I recall correctly. Brokerage is 4.95USD per parcel on the default plan, they do volume discounts I think.

They have no issues opening accounts for Aussies.

You used to be able to ask for the shares to be held in your name but now they only hold them in street (aka under the brokers) name.

It's only for US stocks but most international corporations are listed on one US exchange or another and you can buy ETFs to get exposure to stuff that isn't.

From memory I'm holding QVAL, IVAL and BRK.B shares there. Funny to see a few ASX stocks listed in the IVAL holdings.

 

[Immy]

Re: Desperately searching for ways of becoming the custodian of my international shar

Thanks guys. Really appreciated. I will check them out.

 

[Immy]

Re: Desperately searching for ways of becoming the custodian of my international shar

Back again.

I have been trying to find a brokerage, but no luck. They are all the same that means you can either trade CFDs (in that case you are not the custodian of the shares you think you own), or they only trade Australian shares that you can fully own. In the first case the story is always the same, your shares are kept at one of the big mobs like CITI, Deutsche Bank, or Pershing and if you are lucky, your name is registered somewhere that you have been trading derivatives of the underlying shares. I wouldn't want to go down that route for a few reasons.

If anybody knows a brokerage that can buy real shares on international markets, please let me know about them.

Many thanks for your thoughts guys.
Immy

 

[Trembling Hand]

Re: Desperately searching for ways of becoming the custodian of my international shar

Australian CHESS system is Australians system. As far as I know most other exchanges work on the Custodial brokerage system