I am thinking of using Taipei Fubon Bank for starting my investment portfolio. I am a newbie and want to increase my assets through investing in various financial products. I am a foreigner with ARC valid for 1 year. Is it a good idea to choose this bank for investment in taiwan?
So, you are willing to have them charge you a few % on your funds as investment fee?
How much NT$ in assets you got?
Right now, I am willing to invest 30,000NT$.
Actually I want to use the bank as a broker.
The bank is not a broker for local or overseas stocks. It holds the money for you to buy stocks.
You need to open account with local 證券公司 for local stocks or Interactive brokers or something similar for overseas stocks.
I just want to clarify something. I asked fubon last year about investment and they claim they have a s&p fund package there that allows investment to it whenever you want including all USA stock markets. They said they charge a fixed fee per amount you invest as their fee. I didn’t end up going ahead with it. So you’re saying the bank doesn’t handle the investment part of things?
I walked into a taixin bank investment department and they shooed me out of there and said to ask the branch
They told me the same too, but they might require some minimum investment amount and its probably not 30k. I have friends who do that through HSBC.
They said no minimum but they take a percentage in fees and the first deposit they reduce the percentage to try to get you to invest a larger amount. The next deposits are a higher charge. From what I know fubon and taixin allow foreigner investment.
Mega bank told me that foreigners can only buy Taiwanese, Indian, European etc funds but all foreigners are restricted from American ones… strange.
A Taiwan cooperative branch laughed and laughed (literally) and said foreigners can’t invest there.