Stock brokerage company that is foreigner friendly?

[purplehome]

any recommendations for TW stock brokerage company that is foreigner friendly?

[jimbob132]

What’s your definition of foreigner friendly?

[user86]

@jimbob132

What’s your definition of foreigner friendly?

They greet you with “How do you do? Nice to meet you. I’m fine, and you?”

[purplehome]

english materials or website

[Joebie]

Show up with 3m cash and everyone will be friendly. Think that is the minimum to hit vip status in most banks.

[qwert_zuiop]

@purplehome

any recommendations for TW stock brokerage company that is foreigner friendly?

Does it have to be a TW brokerage or just accessible for TW residents? If not, see:

Best brokerage to use for a non-US person to invest in worldwide stock market?

Here’s what I found so far and my rating (from 0-10). I’m a non-US person and trying to invest in US ETFs through Ireland domiciled funds such as CSPX and VWRA. Local Taiwan banks (Rating: 1): They charge a ton of commissions (~0.2-2%), ongoing annual maintenance fees (~0.2-2%), early withdrawal fees. They usually invest through a separate company under their name, so no US estate tax issues if investing in US ETFs. They are all a bad deal unless you’re trying to get premier status with a loc…

[ilikecoffee]

A friend uses Mega Securities.

[gator]

I have used KGI and Fubon.

Neither Fubon nor KGI had an English website. KGI’s system was more user friendly, but I guess not if you had zero Chinese.

Terms were similar – a few basis points for trades. No margin loan availability for laowai, which makes zero sense given that they hold the shares – and that rule or practice may have changed by now.

The people at both houses were friendly and didn’t get weird because “laowai laile! Aiyo, zeme ban!!???!!!” I guess they don’t recruit from the commercial banks. The staff at both were cool.

Yuanta, KGI, Fubon, and Cathay are the big ones (I believe) and may be the closest thing to foreigner friendly you will come across.

[TaipeiGuy2000]

@Joebie

Show up with 3m cash and everyone will be friendly. Think that is the minimum to hit vip status in most banks.

You mean USD right? I am not sure whether 3m NTD will get you great English service.

[BiggusDickus]

@TaipeiGuy2000

@Joebie

Show up with 3m cash and everyone will be friendly. Think that is the minimum to hit vip status in most banks.

You mean USD right? I am not sure whether 3m NTD will get you great English service.

3m NT was the point where I stopped getting told it’s impossible because I’m a foreigner. That was when they started contacting me.

[Joebie]

3 million ntd is the 1st tier of vip for most banks. Priority service, and coffee while you wait is pretty standard.

[11173]

Seems about right. The equivalent of about 2mil TWD was the VIP status minimum balance for most banks in PRC territory when I was there in 2016.

[BiggusDickus]

@Joebie

3 million ntd is the 1st tier of vip for most banks. Priority service, and coffee while you wait is pretty standard.

It all makes sense now. Bank staff say no, because they can’t be arsed, until they are forced to.

[comfy123]

@purplehome

any recommendations for TW stock brokerage company that is foreigner friendly?

Cathaysec

It’s a pain to get set up as you don’t go to the bank… rather one of their cathaysec offices which are far and few between… but once set up everything can be done via post and email.

For example I needed to update my permit expiry. Instead of needing to go back to their branch… they sent me a prefilled form with a list of things needing my signature and asking for a photo of the back and front of my new ARC

Their trading app is all in Chinese… but you’ll get used to that…