Investing in US Stock

[reviewtrack]

Hi all,

I have a UK based company which has a UK based US dollar account through HSBC.

There is a large amount of money in the USD account which I want to invest into some US tech stocks that I follow. I invested $60,000 into eToro last year & they were a real pain to work with & made me jump over hurdle after hurdle to get my profits out.

I'm looking for alternates but i can't really find a viable option - Hargreaves Lansdown seemed like a great option until they told me I can't send them my money in dollar, I'd have to convert it into GBP then buy the US stock which would convert it back to USD then when I wanted to take my profits out I'd have to convert it back into GBP again which is more hassle than its worth.

How else could I buy the stock in USD and keep it all USD?

Thanks

 

[Tronader]

Hi,

Not sure if they will allow you to open the account directly in USD, but I think in the UK the following brokers allow multi-currency accounts, maybe give them a call?

* Saxo Bank
* IG
* iDealing
* Interactive Brokers

If you are successful with any, could you let us know out of curiosity?

Good luck!

 

[Charlton]

A US based broker e.g. Tradestation

http://www.tradestation.com/products/stocks-and-etfs/funding-instructions

Charlton

Hi all,

I have a UK based company which has a UK based US dollar account through HSBC.

There is a large amount of money in the USD account which I want to invest into some US tech stocks that I follow. I invested $60,000 into eToro last year & they were a real pain to work with & made me jump over hurdle after hurdle to get my profits out.

I'm looking for alternates but i can't really find a viable option - Hargreaves Lansdown seemed like a great option until they told me I can't send them my money in dollar, I'd have to convert it into GBP then buy the US stock which would convert it back to USD then when I wanted to take my profits out I'd have to convert it back into GBP again which is more hassle than its worth.

How else could I buy the stock in USD and keep it all USD?

Thanks

 

[Vinayak1000]

I think Charles Schwab is good and so is E-Trade. The thing with both of these brokerages that I liked the most is the excellent research that they provide traders and investors. The website is very easy-to-use. However, one thing to keep in mind is that cheaper trades can be found elsewhere with other online discount brokerages.

 

[hhiusa]

Hi all,

I have a UK based company which has a UK based US dollar account through HSBC.

There is a large amount of money in the USD account which I want to invest into some US tech stocks that I follow. I invested $60,000 into eToro last year & they were a real pain to work with & made me jump over hurdle after hurdle to get my profits out.

I'm looking for alternates but i can't really find a viable option - Hargreaves Lansdown seemed like a great option until they told me I can't send them my money in dollar, I'd have to convert it into GBP then buy the US stock which would convert it back to USD then when I wanted to take my profits out I'd have to convert it back into GBP again which is more hassle than its worth.

How else could I buy the stock in USD and keep it all USD?

Thanks

I would point out that Interactive Brokers allows for multicurrency denominated accounts. You can actually choose which currency you want and they will convert it. You could just open an account through IB and since they give the best forex rates that I have seen, you could just the some USD directly.

Everbank and Barclays have accounts that can hold USD, GBP and EUR.