Top 10 Online Brokers for Non-U.S. Residents
Finding the best broker to meet specific requirements can be challenging, here are the top 10 online brokers for non-US residents to trade in the US market。
Finding the best broker to meet specific requirements can be challenging, here are the top 10 online brokers for non-US residents to trade in the US market。
For any trader in the world, the US forex market is the preferred destination for great investment opportunities。After all, modern foreign exchange trading was first introduced in the United States in the early 1970s, when President Nixon decided to allow the dollar to float freely in the market.。At the same time, technological advances began to improve and bring changes to the market。
In the 1990s, as the Internet began to spread around the world, online trading platforms began to emerge, making it possible for individuals to trade in the foreign exchange market for the first time.。Since then, the market has grown significantly as new types of brokers and trading platforms have begun to emerge, thereby expanding forex trading capabilities to attract new traders.。
Knowing the success of U.S. financial markets, many non-U.S. residents began to consider whether they could also trade in these markets.。
International traders can participate in the U.S. market because there are currently no regulations restricting foreign traders from trading in the United States.。All you have to do is find a broker to facilitate the buying and selling of your assets。
An online broker will be the best choice because it is convenient to place orders and make changes no matter where you are。All transactions are done via the Internet and can provide faster execution speed, which is very useful in volatile markets。Most importantly, online trading is less expensive than trading through traditional brokers。
Now, choosing the right broker can be tricky。You could end up with huge losses if the broker fails to keep its promises。In addition to this, opening an account for non-US residents may also be slightly more complicated, as each broker has different requirements。Therefore, there are some factors to consider before registering a broker:
- Products offered by brokers: It is best to offer a variety of asset trading options, including stocks, foreign exchange, funds, futures, etc.。
Broker's security: Be sure to check if the broker's trading platform URL has a valid SSL, so it will start with "https" instead of "http"。Also, please understand the investor protection laws that you are complying with。
Transaction costs: Be sure to consider the fees and check if any additional fees need to be paid in advance。
While this can be challenging, finding the right broker is crucial。Therefore, in this article, we will recommend you 10 top online brokers for non-US residents。Continue reading to learn more。
1.(Interactive Brokers)
The best online broker choice for non-U.S. residents to trade in the U.S. market.。First, brokers offer a variety of securities categories, including stocks, options, futures, bonds, currency pairs, etc. Such a wide selection coupled with relatively low fees attracts millions of retail traders from all over the world.。The company currently operates in 31 countries, 22 currencies and 125 markets, making it ideal for intermediate traders and experienced traders.。The broker also provides educational materials for inactive investors.。
Tracker Securities is a direct market access broker that provides execution, clearing, settlement and primary brokerage services to clients.。Since Thomas Peterffy was founded 41 years ago, the company has grown internally to become one of the leading securities firms with more than $7 billion in equity.。
The firm was initially recognised as a popular broker for senior traders and launched a second tier service called IBKR Lite for more casual investors in 2019.。
IBKR Lite serves more than 125 market destinations worldwide and provides direct access (online) to trade execution and clearing services for institutional and professional traders, including equities, options, futures, forex, fixed income and funds.。
Headquartered in Greenwich, Connecticut, it employs more than 1,400 people at companies in the United States, Switzerland, Canada, Hong Kong, the United Kingdom, Australia, Hungary, Russia, Japan, India, China and Estonia; IBKR is regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Financial Conduct Authority (FCA) and is registered with the New York Stock Exchange (NYSE).。
Tracker offers a wide range of product-centric tools, such as Options Traders and Probability Labs for simplifying unilateral and complex multilateral options trading, FXTrader for forex trading, mutual fund / ETF replicators for helping traders find lower-cost ETF alternatives, and fixed-income screeners for corporate and institutional bonds.。Overall, the trading of Interflow Securities will receive the most useful and updated tools to maximize trading and investment objectives.。
As a popular and regulated broker in the United States, Interactive Brokers has won some awards.。Recently, they were named the Best Online Broker of 2019 by Barron's Weekly, categorised as the best broker for mobile, international and frequent traders.。In addition, they received the Best Performing Broker Award from the Preqin Service Provider and the Best Holistic Broker Award from Investopedia (Best Low Cost, Best International Trade, Best Options Trade, Best Day Trade and Best Penny Stock).。Since 2005, Tracker has won many awards for the best service it provides to its clients.。
In order to optimize the trading speed and efficiency of its clients, IntruShield offers a number of powerful trading platform suites, as follows.
- Customer Portal
One-stop destination for checking quotes and making trades, viewing account balances, profit and loss, as well as key performance indicators, funds and reports。
Desktop trading platform
Flagship platform designed for active traders and investors who trade multiple products and need power and flexibility。By opening an account with and using the platform, traders can take advantage of state-of-the-art algorithms and trading tools, as well as a library of tools and asset-based trading layouts for optimal customization.。
Mobile IBKR TWS
The mobile version of IBKR TWS is designed for traders who want to easily trade and monitor their IBKR account from an iOS or Android device (tablet or smartphone)。
IBoT
IBoT is a bot for finding information and placing orders in the customer's own words, available on desktop TWS, mobile IBKR and client。
IBKR Online Traders
IBKR WebTrader is designed for traders and investors who prefer a simplified interface。
IBKR API or IBKR Pro
The trading platform is designed for traders and investors who want to write trading software or automated trading programs.。
Overall, for those who want to find a reliable and regulated broker to trade, Tracker Securities has always been a good choice.。Tracker Securities provides a large number of trading platforms, committed to providing the best service for novices and professionals, suitable for the needs of each customer。
Given the multiple types of base currencies on offer, it is convenient for international traders to recapitalise their accounts and exchange them at market rates if they wish to purchase assets in other markets。In other words, no matter which market you travel to or from, you can place an order without having a separate account or arranging a conversion。
As for security, Interfax has licenses on all continents.。S. alone, the company is regulated by the SEC, NYSE, CFTC, NFA and COMEX。Outside the United States, Interchange Securities has obtained licenses from ASIC (Australia), SFC (Hong Kong), IIROC (Canada), FCA (UK) and others.。
Many people see Incap as a popular and reliable broker for international traders.。But even so, the fees it offers are still affordable for many traders。The minimum account deposit is $0, while the maximum cost of the Pro platform is about 0 per share.$005, 1% of transaction value, IBKR Lite $0。
2. TradeStation Global
TradeStation Global is a TradeStation International Ltd brand based in the UK and regulated by the FCA, the top regulator。More specifically, TradeStation Global is a combination of products offered by。Having said that, some of the features (including account opening, deposit / withdrawal options, and available products) are the same as those of。In addition, you can trade online using the two companies' own desktop platforms。However, TradeStation Global provides its own educational resources, fees, and customer support.。
In fact, one of the best features offered by TradeStation Global is the cost。There is no minimum deposit requirement to open an account if you want to use the broker's web-based client portal。However, in order to trade on the broker d desktop platform, a deposit of at least $1,000 is required。For transaction fees themselves, TradeStation offers lower fees, especially for stocks and ETFs。In addition, TradeStation Global does not charge an inactivity fee, and monthly first withdrawals are free。
3. CMC Markets
CMC Markets is a well-known UK forex broker, founded in 1989, which has attracted much attention over the years and is listed on the London Stock Exchange (LSE) under the ticker symbol CMCX.。The broker is recommended for all types of traders as it offers a wide range of products and an easily accessible, powerful trading platform called "Next Generation."。The platform is equipped with a downloadable MT4 platform and an easy-to-navigate mobile application, providing customers with a complete platform package。
The broker offers a wide range of asset classes。CMC Markets offers not only popular currencies like forex, commodities, indices and individual stocks, but also government bond listings and 14 cryptocurrencies。
In addition, brokers charge spreads based on trade size and protect clients' accounts with negative balance protection; but there are other fees such as overnight funding costs and inactivity fees。Other important features include excellent customer support, research facilities and a variety of educational materials。
4.Bank of Swissquote
Unlike the aforementioned brokers, Swissquote is also an investment bank founded in 1996.。The company is divided into two parts: a company that deals in stocks, futures, funds and options in Switzerland, and a company that deals in foreign exchange and contracts for difference in the UK.。More than 330,000 clients in Europe, Asia and the Middle East trust Credit Suisse Bank, which is now one of the world's best-known brokers.。
As Switzerland's leading banking group, Credit Suisse is considered one of the best-known providers of online financial and transaction services.。The company has been listed on Switzerland's Sixth Exchange since May 2000, but their story dates back to the 1990s, when Marc Bürki and Paolo Buzzi founded a financial software company.。
Swissquote Bank's main vision is to give private investors free access to real-time prices。They follow the mission of "democratizing the banking industry" and adhere to the values of transparency, integrity and impartial information for the benefit of their customers, thus enabling them to make independent decisions.。
Today, Ruixun is a global financial services provider with official branches in several major regions of the world, including the European region, the Middle East and Asian financial centers.。From 2017 to 2018, it claimed to be the first online bank to offer cryptocurrency trading and participate in initial coin offerings (ICOs).。
SwissQuote's trading secures a regulated environment as the broker is licensed in some of the financial industry's most prominent jurisdictions, including the Swiss Financial Market Supervisory Authority (FINMA) and the UK's Financial Conduct Authority (FCA).。
The broker also has local regulations for other branches in other jurisdictions, such as the Malta Financial Services Authority (MFSA), the Dubai Financial Services Authority (DFSA) and the Hong Kong Securities and Futures Commission (SFC), and supports non-EU traders to register regulated services under their accounts.。
Known for its wide variety of trading instruments, such as over 8,500 stocks and over 800 ETFs, SwissQuote also offers clients foreign exchange pairs, cryptocurrencies, government bonds and a range of commodity CFDs.。
The company has launched a special deposit protection scheme for up to 100,000 Swiss francs in insolvency proceedings.。Traders from other countries can choose from a variety of base currencies, such as the euro, dollar, yen, pound sterling, Swiss franc, Canadian dollar, Australian dollar, Turkish lira, Polish zloty, Swedish krona, Norwegian krone, Singapore dollar, XGD, Hungarian forint and Czech koruna。
There are 3 different options for opening a Forex trading account in SwissQuote:
标准
- Spread: from 1.From 7: 00
- Commission: None
- Minimum deposit: $1,000
- Minimum transaction size: 0.01 Hands
- Leverage: 1: 100
Premium
- Spread: from 1.From 4 o'clock
- Commission: None
- Minimum deposit: $10,000
- Minimum transaction size: 0.1 hand
- Leverage: 1: 100
Prime
- Spread: from 1.From 1: 00
- Commission: None
- Minimum deposit: $50,000
- Minimum transaction size: 1 lot
- Leverage: 1: 100
The Premium account is the most popular account and Credit Suisse makes it a recommended choice for forex traders as it balances competitive spreads and affordable minimum deposits according to their criteria。
For trading platforms, traders can choose either MetaTrader or Sawissquote, a proprietary product called Advanced Trader。In order to give traders the best trading experience, the company also offers supplementary analysis tools such as Autochartist and Trading Central signals。
For MetaTrader enthusiasts who want to trade in a premium trading environment, Ruixun offers the MetaTrader Master version。
Since the company is more suitable for experienced traders with medium deposit capacity, they do not offer a complete education package to new traders。However, they have arranged free webinars for everyone who wants to constantly upgrade their trading knowledge.。The program is managed by professionals in the financial industry and is available in 4 languages: English, German, French and Arabic。
All in all, Ruixun is the ideal broker for traders with enough experience to trade on a starting margin of more than $1,000.。Its long history and qualified background as a member of the Swiss Banking Group provide a highly reputable and secure trading environment that few companies can provide.。
However, it should also be noted that Swissquote does not offer a variety of deposit and withdrawal methods, as they mainly focus on bank transfers and credit card payments.。
Swissquote Bank is considered safe because it has a banking license and is listed on the Swiss Stock Exchange and has a long track record.。Although the minimum account deposit is $0, brokers usually charge relatively high fees, especially for stocks and ETFs。In addition, there is no idle fee, but you need to pay the withdrawal fee。
5.Saxo Bank
Established in 1992, Saxo Bank was initially licensed as a bank but does not offer ordinary banking products.。Instead, the company positions itself as a "leading fintech expert focused on multi-asset trading and investing and banking as a service for wholesale clients."。
Saxo Bank was founded in Denmark in 1992 as a brokerage firm。Currently, they have infiltrated their online banking and foreign exchange trading businesses internationally, and the company is hailed as one of the best in the industry.。
Saxo Bank's innovative platform is used by Microsoft's global institutions, Barclays Stockbrokers Ltd and TD Waterhouse。These platforms include the award-winning trading platform SaxoTraderGO and are offered as Saxo Bank's flagship product.。The other two platforms are SaxoTraderPRO and SaxoInvestors, each with its advantages and features。
SaxoTraderPRO Suitable for advanced traders and institutional clients, trading faster by quickly turning off all functions and viewing trading order books and execution reports in real time; on the other hand, Saxo TraderGO is a platform for retail traders, which can be easily managed through a single account Portfolio。For example, traders can get real-time and historical reports of net positions。
As for Saxo Trader, it is a user-friendly case product platform tailored for retail investors. There are several advantages, including browsing curated themes and pre-made screenings。In addition, clients can choose a diversified portfolio。It is a responsive platform accessible from any device。
Saxo Bank website to meet the needs of international customers, Saxo Bank website available in dozens of languages。In addition to English, there are Japanese, Mandarin, French, Italian, Indonesian and so on。
When customers choose Saxo Bank, they choose to deal with a fully regulated industry leader that complies with strict regulatory requirements in 15 financial centers around the world, including the UK, Singapore, Hong Kong and Denmark.。
Another advantage is that there are many options for the instruments that traders can trade on Saxo Bank, covering 40,000 instruments in 184 forex pairs, 9,000 CFDs, 19,000 shares, 200 stock options, 2,500 ETFs, futures, gold, silver and more.。
Since the company also acts as a bank, Saxo Bank's execution speed can be guaranteed。However, some traders may feel that Saxo Bank is not suitable for individual trading because the minimum capital is too large and spreads and commissions are a burden for many customers.。The spread charged by Saxo Bank for each pair is quite large, so it is not suitable for scalpers; at the same time, commissions start at $1。
In addition, Saxo Bank often stops trading for a few seconds before important news releases and does not reactivate until after the news release, which leaves message traders with no best chance of taking action at Saxo Bank.。
In fact, the deposit amount can be adjusted according to the account level chosen by the customer。Saxo Bank accounts are divided into three levels, including Classic (minimum funding of £500), Platinum (minimum funding of £50,000) and VIP (minimum funding of £1,000,000)。Customers can use 1: 200 leverage with a minimum of 0 lots.05。
Saxo Bank provides traders with various tools. Each account level has its own facilities, which can be adjusted according to the needs of traders. The higher the level, the more complete the facilities provided。
For example, a trader with a VIP account will get a personal relationship manager and 24-hour direct access to a trading expert.。These facilities cannot be found when traders choose classic and platinum accounts。
For corporate customers, Saxo Bank offers 40,000 tools with 1: 1 support from expert account managers and security from their more than 25 years of experience。
If customers meet professional standards, they can join Saxo Bank's professional account。The criteria discussed include having a financial portfolio of more than approximately €500,000, having conducted at least 20 large-scale related transactions in the past four quarters, and having worked in the financial sector for at least one year.。
In addition, Saxo Bank has more than 100 institutional experts in its offices in major financial centres such as Denmark, London, Singapore, Shanghai, Hong Kong, Switzerland and Dubai, where customers can choose the location closest to their region.。With this support, Saxo Bank is optimistic about providing the right solution for its customers "business。
From the above explanation, it can be concluded that Saxo Bank is more suitable for those with strong financial resources who are interested in foreign exchange trading as a portfolio.。The broker's business focus is also more oriented towards institutional clients rather than retail clients.。
The broker offers a large number of trading essentials, an advanced user interface and excellent research facilities。Traders have thousands of different types of assets to choose from, such as stocks, CFDs, currency pairs, etc.。
However, this broker may be best for expert traders, but it is not suitable for beginners due to the relatively high minimum deposit, limited support options and high transaction costs。Customers need to have a capital of at least €2,000 before opening an account at Saxo。Their forex spreads are quite competitive, but other tools offered by the platform also have various commissions。
6. Zacks Trade
Zack Trade is a US-based broker for active traders looking for a human broker and trading on foreign stock exchanges。The company is a subsidiary of LBMZ Securities, which was founded in 1978 and is regulated by the SEC and FINRA, the top U.S. regulators.。LBMZ Securities' services are primarily provided by Tracker Securities, so you may find many features similar to Tracker Securities in Zack Trade。Even so, Zacks Trade has its own fee policies, product ions, educational tools, and customer support.。
Currently, the broker operates in 218 countries and allows trading on more than 90 international exchanges.。Zacks Trade, which essentially offers three major trading platforms and 20 free research reports, has no minimum deposit requirements for opening a trading account, but recommends depositing at least $2,500.。The transaction fees themselves are also quite low, with only 0 per share.$01 and no idle or withdrawal fees。
7.First Securities (Firstrade)
First Securities is a well-known broker, founded in 1985 as First Flushing Securities.。The broker offers commission-free trading for a variety of assets, including stocks, options, mutual funds and ETFs。First Securities is worth using for beginners and professionals as it offers multiple trading platforms, free research opportunities and educational seminars every two weeks。
The broker is also ideal for international traders as it accepts clients from 60 countries and does not require any Social Security number or tax ID to register。Their service is easy to access, thanks to its Android and iOS mobile apps, with a console and various interesting research functions。
8.TD Ameritrade
Demerit Securities is one of the largest online brokers for day trading in the United States.。Founded in 1975, the broker is considered safe because it operates under the supervision of top institutions such as the SEC, FINRA and CFTC.。By providing excellent educational materials and a wide range of asset classes such as stocks, ETFs, FX, funds, bonds, options, cryptocurrencies and futures, Demerit Securities is known for being a beginner fit.。
The broker also highlights customer support by reaching out to people through various social media such as Twitter and Facebook。Demaili Securities offers a variety of trading platforms to further improve customer satisfaction, including its basic web platform, mobile application and thinkorswim, which provides all the data and tools needed to find market opportunities。
9.Charles Schwab International
As one of the world's best ETF and ETF screening brokers, Schwab International offers many different tools and services designed to attract all types of investors.。The broker was founded in 1971 and is listed on the New York Stock Exchange.。Regarding its safety, the company is regulated by the SEC, FINRA and FCA (UK)。
The broker offers a number of trading platforms to choose from, such as mobile web platforms, native mobile apps and desktop platforms。In addition, it has excellent research facilities, as it covers many tools, including trading ideas and detailed basic data.。Brokers, however, limit their assets to those offered on U.S. and Canadian exchanges。The cost is also unusually high。To open an account, non-U.S. residents need to deposit at least $2,500。
10. Lightspeed
Finally, Lightspeed, an online broker founded in 2000。It is suitable for frequent traders, but the minimum deposit is quite high: $10,000 for web-based platforms and $25,000 for software。Even so, Lightspeed's transaction costs are very low。
According to an independent review by Investopedia, Lightspeed's target clients are active day traders, professional traders, hedge funds, institutions and other trading groups.。The broker specializes in the stock, futures and options markets and has its own innovative trading platform "Lightspeed Trader"。In addition to this, there are other versions for web and mobile trading, as well as Sterling Trader Pro for customers who need a fully functional secondary platform with advanced charting capabilities。
Lightspeed does not provide a lot of educational materials for beginners, so these features are mainly for advanced traders to use。Nevertheless, the broker is still worth a try as it offers fast order execution and excellent customer service。
Conclusion
From the 10 suggestions above, we can see that each broker operates in its own way and offers a variety of different services。Although some of them are not limited to specific types of traders, but are open to anyone, they each have advantages and disadvantages。Therefore, it is important to understand their features and requirements before deciding to register。
Linking these brokers together is a great option for international traders or non-US residents。They provide a platform that allows non-US traders to trade on the vast currency market and seize available opportunities。
When it comes to U.S. and non-U.S. foreign exchange trading, many consider the security that U.S. regulators can provide, especially when compared to offshore regulation.。To illustrate this more clearly, we discuss this thoroughly in Comparing US and Offshore Brokers。
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