Online ASX trading for non-Australian resident?

jon the pom · 18 September 2011

Hi,

I'm new to the site and trading in general so perhaps someone here could point me in the right direction. I've got a bit of physical and allocated gold and silver which pretty much just sits there like a lump of metal stuff but I'd like to get into something more interactive!

I'm from the UK as the name suggests, I'll be moving perminantly to TAS to work, (TAS may be the **** of AUS to you but compared to the UK it's a golden nugget).

Where can I get 'exposure' to ASX registered mining companies online. Nothing too complicated just messing around with a few shares to see what happens. I'd prefer to trade in Australia with all the crap that's going on in the UK, EU and US, plus I'll be moving there in the new year so it makes sense to get a couple toes in the door.

I get the feeling that online stock brokers will steer clear of me if I'm not tax registered in AUS, might be wrong?

I'm looking for low fees and a simple setup.

Cheers

Jon

bellenuit · 19 September 2011

jon the pom said:
Hi,

I'm new to the site and trading in general so perhaps someone here could point me in the right direction. I've got a bit of physical and allocated gold and silver which pretty much just sits there like a lump of metal stuff but I'd like to get into something more interactive!

I'm from the UK as the name suggests, I'll be moving perminantly to TAS to work, (TAS may be the **** of AUS to you but compared to the UK it's a golden nugget).

Where can I get 'exposure' to ASX registered mining companies online. Nothing too complicated just messing around with a few shares to see what happens. I'd prefer to trade in Australia with all the crap that's going on in the UK, EU and US, plus I'll be moving there in the new year so it makes sense to get a couple toes in the door.

I get the feeling that online stock brokers will steer clear of me if I'm not tax registered in AUS, might be wrong?

I'm looking for low fees and a simple setup.

Cheers

Jon

Set up isn't so simple, but fees are certainly very low. I would suggest Interactive Brokers. You can trade many markets, including US, UK and Australia and you can have your base currency in any one of the many popular currencies offered. You could start with Sterling as your base currency and switch to AUD when you migrate.

Set up takes a bit of time, but nothing too overpowering. I believe IB have a UK office, so that should make things a bit easier for you. Once set up, it doesn't matter where you trade from as you use the same application worldwide. When you move to Australia, you may have to change a few details like tax file number and you may have to have your new address certified.

jon the pom · 19 September 2011

Thanks,

I started to register with IB and got as far as stating how many trades I do per year and how many years I've been trading, which is 0 for both. I was asked to deposit $10,000's to open the acount, not sure I'll be doing that, just wanted to have a look and get a feel maybe place a few small trades at first, nothing too risky.

10k - They're asking alot

Online ASX trading for non-Australian resident?

jon the pom

bellenuit

jon the pom

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