Question about NISA and Penny Stocks

[Roger Van Zant]

Can we get a regular thread going on "Interesting penny stocks to watch" or something like that. I presume I'm not the only one interested in this topic...?

I would be keen on that. Obviously Penny Stocks have their risks but sometimes just sometimes you stumble across a good one.

On a side not from my previous comment, MONEX only allows Japanese Nationals to open an account with them online which only has a 1 day turn around.

Going to try online though but likely I am going to have to go the snail mail route which means ALPP stock may continue to rise and I miss out further due to Japan's inability to treat tax paying foreign residents the same as nationals.

My bad for not asking the question about Japanese platforms with it back in November, but seriously FUCK THIS COUNTRY sometimes for allowing Nationals residing here to open accounts online but not foreigners residing here!

(not sure if bashing Japanese xenophobic policy goes against the rules of this forum. I will happily edit or delete this comment if required. Just naturally pretty frustrated with it right now).

I had to open my Monex account via snail mail. It sucks, but as a long term resident here, I know I have two options : 1. accept it, or 2. go home.
I stopped getting annoyed at stuff like this years ago. I now, from the get-go, simply assume that any administrative process will be difficult and require repetition; be that the post office, my bank, city hall interactions etc....just assume the worst, most infantile, banal procedures; that way, when things go as expected, you're prepared, and when they do go well, you're pleasantly surprised.

[Chris]

1. accept it, or 2. go home.

[/quote]

Sorry, mostly ranting out loud. It's just one of those things you should not expect to deal with in a G7 country. Our Japanese national counter parts legally residing in our G7 home countries would not encounter such blatant bullshit and discrimination when trying to open bank accounts and financial securities.

It's the kind of shit you would expect residing in Russia or China, not a G7 nation such a Japan. So although yes, nothing we can do about it, it still pisses me off something chronic.

Anyway, rant over. Luckily my fiancee is Japanese, so she has started the process to open an account online so at least she can invest on my advice so at least one of us can gain some hopeful gains. Wish I knew MONEX had these OTC stocks back when I was trying to buy shares in them at like $0.21 a share but that is my bad for not asking that question back then.

I am going to start the paper application process now. I just tried to open it online with my MyNumber Card but it kept refusing it, I guess it can maybe read the English name on the card, so instantly rejects it? Maybe?

[mighty58]

Sorry, mostly ranting out loud. It's just one of those things you should not expect to deal with in a G7 country. Our Japanese national counter parts legally residing in our G7 home countries would not encounter such blatant bullshit and discrimination when trying to open bank accounts and financial securities.

It's the kind of shit you would expect residing in Russia or China, not a G7 nation such a Japan. So although yes, nothing we can do about it, it still pisses me off something chronic.

Well, prepare yourself as you will be going through several (often frustrating) steps before you can buy US stocks via Monex on your NISA account. First, open the Monex account. Second, apply for a NISA account. Third, apply for a US stock trading account. Fourth, figure out the process of getting yen into the US trading account and converting it to USD. Fifth, allocate that money within the US trading account to your NISA account. Sixth (when finally buying) make sure you login to TradeStation via the NISA button and not the regular TradeStation button.
They certainly do not make it easy, but once you get it set up, you should be good to go.

[Roger Van Zant]

1. accept it, or 2. go home.

Sorry, mostly ranting out loud. It's just one of those things you should not expect to deal with in a G7 country. Our Japanese national counter parts legally residing in our G7 home countries would not encounter such blatant bullshit and discrimination when trying to open bank accounts and financial securities.

It's the kind of shit you would expect residing in Russia or China, not a G7 nation such a Japan. So although yes, nothing we can do about it, it still pisses me off something chronic.

Anyway, rant over. Luckily my fiancee is Japanese, so she has started the process to open an account online so at least she can invest on my advice so at least one of us can gain some hopeful gains. Wish I knew MONEX had these OTC stocks back when I was trying to buy shares in them at like $0.21 a share but that is my bad for not asking that question back then.

I am going to start the paper application process now. I just tried to open it online with my MyNumber Card but it kept refusing it, I guess it can maybe read the English name on the card, so instantly rejects it? Maybe?
[/quote]

Honestly, Japan isn't really an advanced country. Tokyo is, sure. But most of Japan is like a Third-World country, just with a very thin veneer of "First World" to fool those that only come for two weeks' vacation, or a year on JET, then return home to sing Japan's praises. Tokyo should join the G7, not Japan as a whole...! Good luck with everything. The reason for your MyNumber card not working is because non-Japanese people can only sign up via snail mail. Wait until they start messing with your name....you'll be in for a treat!

[RetireJapan]

Just a quick note here: I'd prefer that we keep moaning (defined as complaining about things without suggesting a practical and implementable solution) to a minimum on the forum. I would also prefer that we keep discussions on topic and refrain from badmouthing Japan as a whole -yes, there are many things here that I find frustrating or upsetting, but this is not the place for those discussions.

The forum here is for people to ask questions and get advice and encouragement. Let's keep things positive and helpful.

[Roger Van Zant]

Just a quick note here: I'd prefer that we keep moaning (defined as complaining about things without suggesting a practical and implementable solution) to a minimum on the forum. I would also prefer that we keep discussions on topic and refrain from badmouthing Japan as a whole -yes, there are many things here that I find frustrating or upsetting, but this is not the place for those discussions.

The forum here is for people to ask questions and get advice and encouragement. Let's keep things positive and helpful.

Well said.

[Kanto]

Just a quick note here: I'd prefer that we keep moaning (defined as complaining about things without suggesting a practical and implementable solution) to a minimum on the forum. I would also prefer that we keep discussions on topic and refrain from badmouthing Japan as a whole -yes, there are many things here that I find frustrating or upsetting, but this is not the place for those discussions.

The forum here is for people to ask questions and get advice and encouragement. Let's keep things positive and helpful.

Hear, hear!

There is always -> https://old.reddit.com/r/japanlife/ for that sort of stuff.

[kvn]

I was asking questions about OTC stocks to the bot at Monex and got this reply:
OTC市場へ移行した米国株は取引所を介した取引を行うことができなくなり、当社においてはウェブサイト上で買付・売却注文を承ることができません。

売却はFX・先物オプション・米国株ダイヤル（コールセンター）での受付となります。

https://faq.monex.co.jp/faq/show/792?si ... in=default

So, I am unsure if it is possible to actually send a buy order with this broker.

EDIT: It would be great if someone could buy 1 share to confirm it is actually possible.

[fools_gold]

I was asking questions about OTC stocks to the bot at Monex and got this reply:
OTC市場へ移行した米国株は取引所を介した取引を行うことができなくなり、当社においてはウェブサイト上で買付・売却注文を承ることができません。

売却はFX・先物オプション・米国株ダイヤル（コールセンター）での受付となります。

https://faq.monex.co.jp/faq/show/792?si ... in=default

So, I am unsure if it is possible to actually send a buy order with this broker.

EDIT: It would be great if someone could buy 1 share to confirm it is actually possible.

I think there are situations where Tradestation will give you information about a stock, but you can't actually place an order. I had this problem when I tried to buy some shares in a CEF for my wife. Unfortunately, you only seem to find out when your order is rejected.

[mighty58]

I was asking questions about OTC stocks to the bot at Monex and got this reply:
OTC市場へ移行した米国株は取引所を介した取引を行うことができなくなり、当社においてはウェブサイト上で買付・売却注文を承ることができません。

売却はFX・先物オプション・米国株ダイヤル（コールセンター）での受付となります。

https://faq.monex.co.jp/faq/show/792?si ... in=default

So, I am unsure if it is possible to actually send a buy order with this broker.

EDIT: It would be great if someone could buy 1 share to confirm it is actually possible.

My sincerest apologies for providing misleading information... the OTC stocks do show up on the Monex TradeStation, and I assumed that you therefore could buy them, but when you go to purchase, you get the error message below.