How to invest in US stock exchnages?

kota

Active Member
Joined
Jul 5, 2018
Messages
78
(Thats if your ignoring the fact that its run by people who were caught stealing from their
clients and never reprimanded)

That's interesting, do you by any chance have the link to what happened? Was thinking of buying some Satrix ETF and I see EE is now powering the Satrix platform, so maybe some more checks into it is needed!
 

backstreetboy

Honorary Master
Joined
Jun 15, 2011
Messages
33,254
That's interesting, do you by any chance have the link to what happened? Was thinking of buying some Satrix ETF and I see EE is now powering the Satrix platform, so maybe some more checks into it is needed!
He is spreading FUD. Are you going to keep bringing old threads to life?
 

bchip

Expert Member
Joined
Mar 12, 2013
Messages
1,244
That's interesting, do you by any chance have the link to what happened? Was thinking of buying some Satrix ETF and I see EE is now powering the Satrix platform, so maybe some more checks into it is needed!

https://www.noseweek.co.za/article/3041/Global-Trader-more-lies-and-deception

Even though the case was withdrawn I remember watching the show on Carte blanche
where the client showed a video of how Gt247 spike their clients out without the s&p moving.

This was before they moved over to DMA access.

Its the same owners, however Sanlam has now bought a significant share.

Still have to ask the question, who owns the share when you own 1/4 of it?
JSE only records in integers...


From the article
there is no regulatory action in process against the company, true, but only because the FSB believes it has no legal jurisdiction to regulate the trade in CFDs – one of the main points made in the Noseweek report.
 

pieterlouis

Member
Joined
Nov 1, 2017
Messages
10
Please help. I'm in the process of opening a TD Ameritrade account, after SB Webtrader was just getting to complex with all the fees en TAX stuff and all the 'hidden costs'. I have to fill in the following for for the US IRS (W-8 BEN). Any suggestions? I'm at a loss as to what to fill in. [I recon something to do with double taxation laws].
 

Attachments

  • Screenshot - 2020_01_06 , 22_49_41.png
    Screenshot - 2020_01_06 , 22_49_41.png
    105.9 KB · Views: 24

pieterlouis

Member
Joined
Nov 1, 2017
Messages
10
Please help. I'm in the process of opening a TD Ameritrade account, after SB Webtrader was just getting to complex with all the fees en TAX stuff and all the 'hidden costs'. I have to fill in the following for for the US IRS (W-8 BEN). Any suggestions? I'm at a loss as to what to fill in. [I recon something to do with double taxation laws]. See the attached screenshot.

Screenshot - 2020_01_06 , 22_49_41.png
 

r4nd0m

Senior Member
Joined
Dec 29, 2016
Messages
779
I leave point 10 blank/incomplete for my W-8BEN.

AFAIK, and I'm happy to be corrected on this, South Africa has a tax treaty with the U.S. I get charged 15% tax (U.S. side) on my dividends.

Now that you've mentioned it, I did some research and found: https://www.irs.gov/pub/irs-trty/safrica.pdf

See page 13 or Article 10.

1. Dividends paid by a resident of a Contracting State to a resident of the other Contracting State may be taxed in that other Contracting State.

and

However, such dividends may also be taxed in the Contracting State of which the payor is a resident, and according to the laws of that State, but if the beneficial owner of the dividends is a resident of the other Contracting State, the tax so charged shall not exceed:

a) 5 per cent of the gross amount of the dividends if the beneficial owner is a company which holds directly at least 10 per cent of the voting stock of the company paying the dividends; and

b) 15 per cent of the gross amount of the dividends in all other cases

So either way, I believe I'm being taxed the correct amount according to the treaty.

Obviously this does not take into account asset disposal and CGT on that, which I believe you will declare to SARS and pay here (South Africa) based on the ruling currency exchange rates at the time.
 

InTheWild

Senior Member
Joined
Sep 4, 2012
Messages
642
Please help. I'm in the process of opening a TD Ameritrade account, after SB Webtrader was just getting to complex with all the fees en TAX stuff and all the 'hidden costs'. I have to fill in the following for for the US IRS (W-8 BEN). Any suggestions? I'm at a loss as to what to fill in. [I recon something to do with double taxation laws].

I wasn't aware that a non-US resident can open a TD Ameritrade account?
 

InTheWild

Senior Member
Joined
Sep 4, 2012
Messages
642
Yes, can be done. Also Interactive Brokers, and a few others.

I've stayed away from IB due to the $10 monthly fee (I'm gonna take a couple years to get to $100k :) ), but TD A actually looks promising - just trying to find what monthly fees are (if any)
 

bchip

Expert Member
Joined
Mar 12, 2013
Messages
1,244
Please help. I'm in the process of opening a TD Ameritrade account, after SB Webtrader was just getting to complex with all the fees en TAX stuff and all the 'hidden costs'. I have to fill in the following for for the US IRS (W-8 BEN). Any suggestions? I'm at a loss as to what to fill in. [I recon something to do with double taxation laws]. See the attached screenshot.

View attachment 763092

Values:
resident of: South Africa
paragraph: Article 10(2)(b)
to claim a: 15%
income): dividends
of withholding: Natural person
 

Mys

Well-Known Member
Joined
Apr 16, 2011
Messages
180
Hi,

I am looking to start investing into US shares directly but will not be going at amounts more than R10k to start with. It won't be like day trading as such but rather "value investing" so looking at getting into a few companies and holding those positions for a while - I would anticipate it would about 5-10 trades per month.

A friend of mine recommended Saxo but Easy Equities inevitably came up as an option. I want to use Zar to start the investing but will transition to buying USD once I have grown a decently sized portfolio.

Any suggestions?
 

Lukcydog

Well-Known Member
Joined
Aug 13, 2012
Messages
481
Hi,

I am looking to start investing into US shares directly but will not be going at amounts more than R10k to start with. It won't be like day trading as such but rather "value investing" so looking at getting into a few companies and holding those positions for a while - I would anticipate it would about 5-10 trades per month.

A friend of mine recommended Saxo but Easy Equities inevitably came up as an option. I want to use Zar to start the investing but will transition to buying USD once I have grown a decently sized portfolio.

Any suggestions?
Interactive Brokers (IB). They recently removed their $10 per month management fee. Cheap as chips on trading fees ($2000 cost appx $0.15 per trade). I've used them since 2016 and never looked back.

Platforms that use Saxo (Std Bank, ABSA) charge $20/20EUR/20GBP (depending on where you are purchasing the shares) per trade which is very uneconomical if you are going to start with R10k (ie $695 per month).

I've never used EE so I cant give an opinion. I see the trading fee for EE is 0.25%, compared to 0.0075% for IB (on the $2000).
 
Top