Which is the best bank in TW to open an account for buying stocks as an American?

Business Money
41

My TD Ameritrade account is going to be converted into a Schwab account. So try TD Ameritrade if they still allow sign-ups? Or maybe they already forward to Schwab? Not sure.

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42

Ours switched last year. I think you’ll like the changes.

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43

TD doesn’t take sign-ups from tw anymore

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44

Yeah, my bad it’s 25,000. Still I’m new to this and want to start with very small investments. Probably only 2-3k usd at first.

45

I was in a similar boat. I ended up buying a share or two in dividend paying companies through a services called “First shares.”

Then I sent money every month. It a good idea if you want to invest, and not trade. You choose to reinvest your dividends and it starts piling up.

One of these days, when you get back to the US, open a bank account anywhere, and start a Schwab account.

Unless you’re some genius I’d start safely and go slow. Not jump into tech or AI or some such.

Philip Morris put my kid through college. Boring af, but the dividend came through, even with the big drop a few years back.

I asked BING for help, but couldn’t fin First Shares. Did however find this:

  1. Direct Stock Purchase Plans (DSPPs):
  • DSPPs allow you to buy shares directly from the company itself, bypassing traditional brokerages.
  • Companies like Coca-Cola, Walmart, and Disney offer DSPPs. However, availability varies, and not all companies provide this option.

Here’s a bit more:

About McDonald’s Direct Stock Purchase Program (bizfluent.com)

If you’re new to investing, read everything about investing for free on the Motely Fool.com.

2 Likes
46

Wire fees may eat up your profits if you have to transfer that cross border. I’d just open a crypto account locally and invest it all into Bitcoin or something similar.

47

Isn’t a local bank.

48

They were a local bank from 1912 to 1993

49

It’s 2024. I do love history lessons though.

50

Finally found the option. Which should I open? Cash?

51

yes, cash.

edit: I’m going to throw out something here… be careful trading, as 1) you’re new to stocks, 2) you’re not paying attention to detail when trying to open accounts (no cash option, $25k vs $250k). Don’t want to make easily avoidable mistakes with real money.

52

There are several options for transfering funds to Interactive Brokers. Which would be the best for sending money to and from a local account here?