Page 3 of 4
Re: Buying US stocks from Japan.
Posted: Fri Dec 04, 2020 2:09 am
by RetireJapan
Despite this article:
https://www.investopedia.com/news/inter ... t-minimum/
it seems that is still the case, as per the IB website just now:
https://www.interactivebrokers.co.jp/en ... count-info
1m yen for the Japan account, $10,000 for the international LLC version.
Re: Buying US stocks from Japan.
Posted: Fri Dec 04, 2020 3:42 am
by Kanto
TK85 wrote: ↑Fri Dec 04, 2020 2:02 am
I apologize if it is a stupid question, but is it true that if you want to open an account with Interactive Broker here in Japan the minimum amount is 10,000 US? I am not a US citizen or Japanese.
https://www.interactivebrokers.co.jp/en ... hp?f=38234
If you are not American it is best to use a Japanese broker and a NISA account to save on tax!
IB for non-Americans is only a good option if you plan to move outside of Japan soon, or you are looking for more exotic products.
Re: Buying US stocks from Japan.
Posted: Sun Dec 13, 2020 7:34 am
by michimachi
Hi! I'm aware of NISA's advantages when it comes to taxes but what if I was thinking of being a swing trader? Is the NISA account allowed to be used as such? (as far as I know it's not)
Re: Buying US stocks from Japan.
Posted: Sun Dec 13, 2020 7:58 am
by RetireJapan
michimachi wrote: ↑Sun Dec 13, 2020 7:34 am
Hi! I'm aware of NISA's advantages when it comes to taxes but what if I was thinking of being a swing trader? Is the NISA account allowed to be used as such? (as far as I know it's not)
NISA is not a good fit for trading because each time you sell you lose that part of your NISA allowance, so you can only buy up to 1.2m yen a year. If your total purchases will be less than that it might work, but most people can expect to lose money day trading.
Re: Buying US stocks from Japan.
Posted: Sat Jan 02, 2021 2:08 pm
by Spa06Jc
I opened an International LLC account with IB in September 2020. Once it was mostly set up, they encouraged me to fund it with a recommended $10,000 dollars saying that this would take precedence over accounts being funded with less, but I was still able to go ahead and fund the account with half of that without issues. Took a day or two after wiring the money via USJ for me to begin trading.
My experience with IB has been mostly positive, although it's a bit more complicated than I was expecting. Despite the 'Client Portal' being the friendly interface (the other being a trader workstation view), it still needs some time to get to grips with.
Re: Buying US stocks from Japan.
Posted: Sat Oct 30, 2021 10:27 pm
by godzilla1969
A little late to the conversation, but I just tried to open a Firstrade account and was informed that they do not offer services to US citizens residing in Japan.
Re: Buying US stocks from Japan.
Posted: Sun Oct 31, 2021 10:02 am
by captainspoke
godzilla1969 wrote: ↑Sat Oct 30, 2021 10:27 pm
A little late to the conversation, but I just tried to open a Firstrade account and was informed that they do not offer services to US citizens residing in Japan.
Late? No, not at all. One teacher from long ago had a sign on her door, "Better late than never."
Re: Buying US stocks from Japan.
Posted: Mon Nov 01, 2021 1:14 am
by tokyoal
captainspoke wrote: ↑Sun Oct 31, 2021 10:02 am
godzilla1969 wrote: ↑Sat Oct 30, 2021 10:27 pm
A little late to the conversation, but I just tried to open a Firstrade account and was informed that they do not offer services to US citizens residing in Japan.
Late? No, not at all. One teacher from long ago had a sign on her door, "Better late than never."
Sorry to hear that! I'm British and had no problems (guessing it's FATCA?). Best of luck finding a different broker!
Re: Buying US stocks from Japan.
Posted: Tue Nov 02, 2021 2:50 am
by godzilla1969
tokyoal wrote: ↑Mon Nov 01, 2021 1:14 am
captainspoke wrote: ↑Sun Oct 31, 2021 10:02 am
godzilla1969 wrote: ↑Sat Oct 30, 2021 10:27 pm
A little late to the conversation, but I just tried to open a Firstrade account and was informed that they do not offer services to US citizens residing in Japan.
Late? No, not at all. One teacher from long ago had a sign on her door, "Better late than never."
Sorry to hear that! I'm British and had no problems (guessing it's FATCA?). Best of luck finding a different broker!
Probably. Or the IRS. Or both. Oh, well. IB seems fine, and to be my only reasonable option as a US citizen.
Re: Buying US stocks from Japan.
Posted: Fri Nov 26, 2021 1:57 am
by bfuisting
Spa06Jc wrote: ↑Sat Jan 02, 2021 2:08 pm
I opened an International LLC account with IB in September 2020. Once it was mostly set up, they encouraged me to fund it with a recommended $10,000 dollars saying that this would take precedence over accounts being funded with less, but I was still able to go ahead and fund the account with half of that without issues. Took a day or two after wiring the money via USJ for me to begin trading.
My experience with IB has been mostly positive, although it's a bit more complicated than I was expecting. Despite the 'Client Portal' being the friendly interface (the other being a trader workstation view), it still needs some time to get to grips with.
I am looking to move some overseas retirement investments to a place that charges less fees. I am looking at IB but since I am not really that interested in trading that much but rather invest and leave it, I am wondering if it is for me. I would be able to put more than $10,000 in the account so that is not an issue. I am not Japanese and not a US citizen either.
Any ideas or advice would be appreciated!