Best stock trading apps for non-US, non-EU citizens (2024)

FAQs

Best stock trading apps for non-US, non-EU citizens? ›

There is no citizenship requirement for owning stocks of American companies. While U.S. investment securities are regulated by U.S. law, there are no specific provisions that forbid individuals who are not citizens of the U.S. from participating in the U.S. stock market.

There is no citizenship requirement for owning stocks of American companies. While U.S. investment securities are regulated by U.S. law, there are no specific provisions that forbid individuals who are not citizens of the U.S. from participating in the U.S. stock market.

You can opt for foreign brokers like Ameritrade, Charles Schwab and others that have an Indian presence to start directly investing in the US stock market. NSE IFSC - You can also trade US stocks through the NSE IFSC, a wholly-owned subsidiary of the National Stock Exchange (NSE).

What you'll need to open an account: A few minutes to complete this form. Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) Foreign tax ID, passport, or visa number (if you're not a citizen or permanent resident of the U.S.)

Interactive Brokers (IBKR) is hands down our top choice for the Best Online Broker for International Trading.

No. Unfortunately, we do not open accounts for any new customers residing outside the United States. Q.

Be 18 years or older. Have a valid Social Security Number (not a Taxpayer Identification Number) Have a legal U.S. residential address within the 50 states or Puerto Rico (exceptions may apply for active U.S. military personnel stationed abroad) Be a U.S. citizen, U.S. permanent resident, or have a valid U.S. visa*

The easiest way to open a Schwab One International account is online. You can also get help opening an account by calling us at 1-415-667-7870 (outside the U.S.) or 1-877-853-1802 (in the U.S.).

Do Foreigners Pay Taxes on U.S. Investments? Foreigners who are not resident or nonresident aliens of the U.S. do not pay any taxes on their investments to the U.S. government.

Persons residing outside the United States are invited to visit Vanguard's website for Non-U.S. Investors for more information about products and services available to them.

Can a non US citizen use Interactive Brokers? ›

While many brokerages are only open to U.S. investors, Interactive Brokers is available to investors in more than 200 countries and territories.

TD Ameritrade mainly targets US investors but also accepts clients from different countries. Clients from Singapore, Malaysia, Thailand, China, Hong Kong, and Taiwan are redirected to other TD Ameritrade websites, while users from Canada will be directed to TD Direct Investing, a different company than TD Ameritrade.

TD Ameritrade: Range of Offerings. TD Ameritrade offers all the usual suspects you'd expect from a large brokerage firm. While Fidelity supports trading across multiple assets, futures, options on futures, and futures on cryptocurrencies are missing from its product offerings.

Robinhood, SoFi, and Webull are the lowest commission brokerage accounts across stocks, ETFs, options, and cryptocurrencies -- they don't charge commissions.

Can I access my account while I travel overseas? You can access your Robinhood account in almost all countries, with the exception of Cuba, Iran, North Korea, Syria, and the Crimea region of Ukraine.

They are often referred to as the "big four brokerages." Each of these firms—Charles Schwab, Fidelity Investments, E*TRADE, and TD Ameritrade—comprise the top in terms of customers and assets.

If an account is held by a nonresident alien or a foreign entity,¹ Fidelity must have Certificate of Foreign Status on file for the account. This information is required for U.S. tax withholding purposes on income earned in your Fidelity account.

Foreign nationals who are permanent legal residents of the U.S. may be required to present a Permanent Resident Card (i.e., “green card”) and a Social Security number to open an account in a U.S.-based Merrill office. Non-individuals (e.g., a business, trust or estate) must submit sufficient evidence of legal status.

U.S. expat brokerage account restrictions vary between brokerage firms. Some firms let clients keep their existing brokerage account once they have moved overseas but will not permit clients to open a new brokerage account due to residency in a foreign country.

Webull is a US-based trading platform that can be used in the United States, India, Brazil, Turkey, the Philippines, Malaysia, Japan, China, and Korea.

Is Moomoo better than Robinhood? ›

Although Moomoo might be better suited for those at the intermediate and advanced levels, even beginners can use the app with relative ease. Robinhood is more suited to beginning investors, but more advanced traders can use the app to accomplish their goals. Both apps are available for Apple and Android devices.

Can you use Webull in Europe with a VPN? No, you cannot use a VPN to open a Webull account from Europe. After registration, Webull will ask for specific documents that prove you are a valid user.

Account Features for U.S. Expatriates

As a U.S. citizen living abroad, you'll enjoy a number of advantages with Schwab, including: Convenient access to your money through U.S. dollar–denominated checks, debit cards, and the Schwab MoneyLink^® Electronic Funds Transfer Service.

Charles Schwab. Chase: You need an ITIN and a photo ID. Citibank: No SSN or ITIN required, you will need to verify your address.

Due to U.S. federal laws and regulations, Schwab cannot accept applications from residents of your country/region. Thank you for your interest in investing with Charles Schwab.

Contribute to Your Retirement Accounts

Investing in retirement accounts eliminates capital gains taxes on your portfolio. You can buy and sell stocks, bonds and other assets without triggering capital gains taxes. Withdrawals from Traditional IRA, 401(k) and similar accounts may lead to ordinary income taxes.

Restricted stock units (RSUs), restricted stock awards (RSAs), performance stock units (PSUs), and performance stock awards (PSAs) are typically non-covered. For covered securities, Schwab reports cost basis to the IRS. For non-covered securities, Schwab will not report cost basis to the IRS.

Not all countries impose a capital gains tax and most have different rates of taxation for individuals compared to corporations. Countries that do not impose a capital gains tax include Bahrain, Barbados, Belize, Cayman Islands, Isle of Man, Jamaica, New Zealand, Sri Lanka, Singapore, and others.

Please note: You need to be a U.S. citizen with a U.S. mailing address to open an account. If you live or work outside the U.S., please check out our international site.

Go to the broker's website and click on the “open account” link to fill the necessary forms. Some of the forms may need to be signed, so you need to print them out. As a foreigner, you will be required to fill and sign the W-8BEN form.

How to invest in S&P 500 outside US? ›

As an investor, we cannot invest directly in the S&P500 index. Instead, the easiest way to invest in the S&P500 index is through investing in the S&P500 Exchange-Traded Funds (ETFs). An ETF is an instrument that mirrors the performance of an underlying index. Similar to stocks, ETFs are also traded in the stock market.

TD Ameritrade opens accounts to residents of over 100 countries. The few exceptions include the European Union, Canada, and Australia, but “there are lots of buts and ifs on it”. 2. Interactive Brokers opens accounts to residents anywhere.

For US Persons, IBKR issues 1099 forms in a consolidated format. Most 1099 forms will appear on one statement rather than as separate forms. Information reported on the Consolidated Form 1099 is also reported to the IRS and should be reported on your federal tax return.

Drawbacks include a lack of fractional shares and international trading; TD Ameritrade customers can only trade U.S. and Canadian-listed securities. Cryptocurrency: Cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin are not available to trade at TD Ameritrade.

What brokerage firms do billionaires use? Many very wealthy individuals use the top brokerage firms, such as Fidelity, Schwab, Vanguard, and TD Ameritrade, among others. They invest in private equity and hedge funds.

*$0 commission applies to online U.S. exchange-listed stocks and ETFs. A $6.95 commission applies to online trades of over-the-counter (OTC) stocks which includes stocks not listed on a U.S. exchange.

Schwab and Fidelity offer similar customer experiences. As a result, most types of investors can find benefits to working with either. The choice between the two may prove a matter of preferred trading instruments: Schwab is better equipped for futures (and international) trading, and only Fidelity offers forex.

In fact, Fidelity is our overall pick for the best online broker in 2022, so it is very hard to beat. All that said, Vanguard still offers some of the lowest-cost funds in the industry and will appeal to buy-and-hold investors, retirement savers, and investors who want access to professional advice.

Fidelity and TD Ameritrade both provide self-directed trading, IRAs, commission-free investment options, educational resources, and more. But Fidelity is better for those in search of lower fees and stronger automated investing options.

What is the fastest growing brokerage in North America? ›

TD Ameritrade in particular has over 11 million customers and more than $1 trillion of assets under its management. The company offers various investment products such as stocks, forex, mutual funds, ETFs, options, futures, cryptocurrencies, bonds, and many more.

AliceBlue App. The AliceBlue Trading application has one of the lowest brokerage charges in the share market industry. It offers many different trading options, such as commodities, equity, futures, etc., which can be helpful for you.

Do I need to file Robinhood taxes? The short answer is yes. You must report any profits you receive from selling stocks on the Robinhood app or dividends on your individual tax return. Selling assets leads to capital gains or losses.

If you don't file your taxes and report any income that you earned through Robinhood, you may be subject to penalties and fines from the Internal Revenue Service (IRS). The IRS requires taxpayers to report all income they earn, regardless of the source, and failure to do so can result in penalties and fines.

Fidelity offers several advanced trading features that are absent from Robinhood's platform. You can trade OTC penny stocks and engage in short selling. Robinhood does not offer OTC penny stock trading or short selling.

Vanguard is the largest brokerage firm by AUM, managing $8.1 trillion in assets as of March 31, 2022, up one trillion from 2021. Vanguard not only manages the most assets of any major brokerage, the company is the only major stock brokerage firm to grow its AUM from 2021 to 2022.

Warren Buffett is often cited as the most successful investor of all time through his holding company, Berkshire Hathaway.

Regulations. One of the main reasons why forex brokers do not accept US clients is due to the strict regulations imposed by the US government. The US government has implemented a number of regulations on forex brokers, including the Dodd-Frank Act, which was introduced in 2010.

The answer is YES! Through an Individual Taxpayer Identification Number or (ITIN), people who do not have social security numbers can open investment accounts. Brokerage companies such as Vanguard, Charles Schwab, and Fidelity allow individuals with ITINs to open investment accounts. Read below to learn more.

How can a non US citizen invest in S&P 500? ›

As an investor, we cannot invest directly in the S&P500 index. Instead, the easiest way to invest in the S&P500 index is through investing in the S&P500 Exchange-Traded Funds (ETFs). An ETF is an instrument that mirrors the performance of an underlying index. Similar to stocks, ETFs are also traded in the stock market.

To buy stocks without SSN in the US, you need to provide your broker with an Individual Taxpayer Identification Number (ITIN). You can get ITIN from IRS (Internal Revenue Service) if you mail your W-7, tax return, proof of identity, and foreign status documents to the IRS Austin Service Center.

Companies that trade in stocks, bonds, and other securities are required by law to have that information for federal tax purposes. So, no, there's isn't a stock trading app that doesn't require it; they would run afoul of federal law if the did not require it.

In summary, foreign investors ('non-resident aliens' in IRS tax speak) are not liable for capital gains tax, but are subject to dividend and estate taxes. Dividends are withheld by the broker before distributions are made to the investor.

Foreign stock or securities, if you hold them outside of a financial account, must be reported on Form 8938, provided the value of your specified foreign financial assets is greater than the reporting threshold that applies to you.

Please note: You need to be a U.S. citizen with a U.S. mailing address to open an account. If you live or work outside the U.S., please check out our international site.

In Europe, only residents of the UK (United Kingdom) can open an account with Vanguard. As such, if you are a resident of any other European region, you aren't so fortunate. However, you can still invest in Vanguard ETFs through different investment platforms.

To own stock in a brokerage account, you are required under federal law (the Patriot Act) to provide your Social Security number. This information is used to verify your identity and prevent the bad guys from gaining access to the stock market. Every brokerage must adhere to this requirement.

To collect Social Security Disability benefits, there's an income limit on money earned from working and SSD can be denied if earnings are too high. There's no limit on unearned income, meaning money made from investments, such as stocks and bonds, won't affect SSD benefits.

Do proceeds from stock sales count toward the Social Security earnings limit? No. Income that comes from something other than work, such as pensions, annuities, investment income, interest, IRA and 401(k) distributions, and capital gains is not counted toward the earnings limit and will not affect your benefit.