Investment Advice and options

[wcm]

Hi awesome mybb users I would like to invest in some of nasdaq top 100.
How do I go about doing this ?
Do I have to use a broker ? if so which broker would you go with/had good experience with ?

 

[backstreetboy]

Buy STXNDQ on Easy equities and bob's your uncle.

 

[wcm]

Buy STXNDQ on Easy equities and bob's your uncle.

If I wanted say specific one's like google, amazon etc ?

 

[Thor]

If I wanted say specific one's like google, amazon etc ?

you can do that by opening a US account on EasyEquities to buy those shares directly.

 

[backstreetboy]

If I wanted say specific one's like google, amazon etc ?

Can do that aswell http://playintheusa.easyequities.co.za/

 

[SauRoNZA]

If I wanted say specific one's like google, amazon etc ?

Just bear in mind it will only be worth it if you are buying a few thousand US$ worth of shares at a time.

Not just a couple of hundred rands.

 

[Alton Turner Blackwood]

Just bear in mind it will only be worth it if you are buying a few thousand US$ worth of shares at a time.

Not just a couple of hundred rands.

Agreed, but I'd go as far as to say it's a rip off.

Fees for the deposit and commission alone comes to 0.5%. To buy the equity will incur US tax (makes no sense, but hey - 15%), while you're holding, then when you sell it, you have to pay US tax again (another 15%).

So you're down 30.5% before your equity even started performing! OK, not really, since you only pay the second 15% once you sell. But you need to have some serious faith in a company to want to do this.

edit: link to fee schedule http://resources.easyequities.co.za/EasyEquities_CostProfile_USTrading.pdf

 

[wcm]

Agreed, but I'd go as far as to say it's a rip off.

Fees for the deposit and commission alone comes to 0.5%. To buy the equity will incur US tax (makes no sense, but hey - 15%), while you're holding, then when you sell it, you have to pay US tax again (another 15%).

So you're down 30.5% before your equity even started performing! OK, not really, since you only pay the second 15% once you sell. But you need to have some serious faith in a company to want to do this.

edit: link to fee schedule http://resources.easyequities.co.za/EasyEquities_CostProfile_USTrading.pdf

That's rough, so what's the alternatives ?

 

[backstreetboy]

That's rough, so what's the alternatives ?

degiro.ie

 

[RossCo_]

Bitcoin!

 

[Rkootknir]

Agreed, but I'd go as far as to say it's a rip off.

Fees for the deposit and commission alone comes to 0.5%. To buy the equity will incur US tax (makes no sense, but hey - 15%), while you're holding, then when you sell it, you have to pay US tax again (another 15%).

So you're down 30.5% before your equity even started performing! OK, not really, since you only pay the second 15% once you sell. But you need to have some serious faith in a company to want to do this.

edit: link to fee schedule http://resources.easyequities.co.za/EasyEquities_CostProfile_USTrading.pdf

VAT is only payable on the fee part, so using e.g. for a $2 000 buy transaction, the fees (based on their schedule) will be:

Brokerage: $5.00
Clearing & admin: $6.20
Voucher fee: $20.00
VAT: Either $1.68 or $4.68 (their schedule does not really clarify if they charge VAT on the voucher fee as well)

These don't see unreasonable - I would worry more about the "Recurring Investment Fee" - is the 0.1% per month or per annum? 1.21% of AUM (if per annum) is excessive for what is essentially a holding fee.

 

[wcm]

VAT is only payable on the fee part, so using e.g. for a $2 000 buy transaction, the fees (based on their schedule) will be:

Brokerage: $5.00
Clearing & admin: $6.20
Voucher fee: $20.00
VAT: Either $1.68 or $4.68 (their schedule does not really clarify if they charge VAT on the voucher fee as well)

These don't see unreasonable - I would worry more about the "Recurring Investment Fee" - is the 0.1% per month or per annum? 1.21% of AUM (if per annum) is excessive for what is essentially a holding fee.

Are you sure about the VAT only on fees because that makes a big difference as apposed to VAT on the investment amount ?

 

[Rkootknir]

Are you sure about the VAT only on fees because that makes a big difference as apposed to VAT on the investment amount ?

That's almost certainly how it works, at least in my experience of various other stockbroking platforms. Obviously, give them a call if you want to make absolutely sure.

 

[wcm]

That's almost certainly how it works, at least in my experience of various other stockbroking platforms. Obviously, give them a call if you want to make absolutely sure.

Thanks ! I will follow up on this.