Singapore Or Hong Kong Banks/brokers

[whopper]

I would like to move my online brokerage account from the US. Does anyone recommend an online broker similar to schwab or etrade in either Hong kong or Singapore?

If that is not a possibility, any other banking information regarding the above locations and types of accounts would be greatly appreciated.

Thanks

[bowthai]

I would like to move my online brokerage account from the US. Does anyone recommend an online broker similar to schwab or etrade in either Hong kong or Singapore?

If that is not a possibility, any other banking information regarding the above locations and types of accounts would be greatly appreciated.

Thanks

i am also in your situation and have etrade and scottrade accounts.i am thinking of transferring my stocks to phillips and/or dbs vickers and my money to uob and dbs banks.

also don't forget about the irs and foreign bank and securities accounts must be reported if over $10000 in cumulative value and a fbar must be filled out.

http://www.qualisteam.com/Stocks/Asia/Singapore/index.html

Edited May 11, 2007 by bowthai

[whopper]

thanks for the reply,

seems like a way to get out of the dollar

[Loom]

If you're planning to invest in US stocks, you'll probably get much better service/commission rates from a US-based online broker.

But if you want to invest in US shares from Singapore or HK, only your local cash balances in Singapore or US stocks with significant offshore earnings would diversify you from the US$. If your US$ trades are settled in the local currency there would be an added cost for currency conversion. I don't expect you'd be able to get any US equity research, IRA custody, etc. from an Asian-based company offering US trading facilities.

Singapore would be the best way to diversify your cash deposits away from the US$. (HK$ is pegged to the US$). Investing directly in shares of the East Asian markets, except Hong Kong, would put your equity investments in local currencies and then you would fully benefit from any dollar weakness. But it might be easier if you could find US-traded country funds with unhedged currency exposure. Or set up a foreign currency account with HSBC in Hong Kong for a certain portion of your cash holdings.