OTCQX:PALAF - Post by User
Post by
yellowcakeon Jan 22, 2007 9:07pm
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Post# 12068237
Re: Buying Australian stocks in Canada
Re: Buying Australian stocks in CanadaI'll answer my own question.
Unless you're a very wealthy individual (minimum trade with Canaccord: $15000-$20000), forget about buying Aussie stocks from a Canadian discount broker.
It's simpler to open an account directly with an Australian broker. The tricky part is to find one willing to open an account for non-residents/non-citizens of Australia.
One that seems to fit the bill is Sanford Securities (a.k.a. Australian Investment Exchange Inc.). You can look them up at https://www.sanford.com.au
A list of INTERNET-BASED, NON ADVISORY BROKERS in Oz cab be found at:
https://www.asx.com.au/resources/brokers/internet_based.htm
www.amscot.com.au
Don't deal with Amscot: they suck. Tons and tons of paperwork to read, need to open a trust fund with minimum initial deposit of 5000$ and minimum balance of 10000$. So a 10000$ deposit gives you only 5000$ of purchasing power. Great.
www.andrewwest.com.au
Looks like a sensible, no-nonsense discount broker. However they're only for Australian residents.
I don't know about the other brokers listed.
Cheers,
yellowcake