Legit trading platforms to invest where money is physically out of SA?

epictree

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Jun 3, 2015
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100
Hey

I understand that we have Easy Equities and the like for investing "offshore" however the money remains for all intensive purposes in SA.

Are there platforms where one can invest as a SA citizen but money is physically outside the country (similar to Robinhood platform)? I want to make use of my SARS discretionary amounts.
 

Also the Uganda Illuminati can help.
 
Hey

I understand that we have Easy Equities and the like for investing "offshore" however the money remains for all intensive purposes in SA.

Are there platforms where one can invest as a SA citizen but money is physically outside the country (similar to Robinhood platform)? I want to make use of my SARS discretionary amounts.

Interactive Brokers
 
Hey

I understand that we have Easy Equities and the like for investing "offshore" however the money remains for all intensive purposes in SA.

Are there platforms where one can invest as a SA citizen but money is physically outside the country (similar to Robinhood platform)? I want to make use of my SARS discretionary amounts.
Bitcoin
 
Hey

I understand that we have Easy Equities and the like for investing "offshore" however the money remains for all intensive purposes in SA.

Are there platforms where one can invest as a SA citizen but money is physically outside the country (similar to Robinhood platform)? I want to make use of my SARS discretionary amounts.

For the English lesson portion of this thread, the correct phrase is intents and purposes.

Intensive purposes
is a common mispronunciation, but it makes no logical sense.
 
Hey

I understand that we have Easy Equities and the like for investing "offshore" however the money remains for all intensive purposes in SA.

Are there platforms where one can invest as a SA citizen but money is physically outside the country (similar to Robinhood platform)? I want to make use of my SARS discretionary amounts.
Sda is not sars discretionary amounts it's single discretionary amount capped at 1m a year.

Just remember that the sda is is for all foreign payments that's investments travel etc. So don't offshore 1m and plan to travel offshore keep some of that spare.

Anyway you can go beyond 1m with the use of an approval for international transfer that's granted by sars. Pretty easy to obtain. You can do 10m with that.

Interactive brokers comes highky recommend as you can see above.
 
Noted.

Question number 2. I have the IB account created but how do you guys get money into your IB account?

I've seen videos for Wise and Shyft. Not sure how safe for large money transfers.
 
Noted.

Question number 2. I have the IB account created but how do you guys get money into your IB account?

I've seen videos for Wise and Shyft. Not sure how safe for large money transfers.

Forex transaction through your bank, start with small amount if nervous. If I am not mistaken you can also deposit ZAR directly into your IB account, but there are still fees and commissions involved. Have not tried this myself, I stuck with FNB forex. The issue with Wise is you need to fund with forex first. There is no ZAR deposit function.
 
Noted.

Question number 2. I have the IB account created but how do you guys get money into your IB account?

I've seen videos for Wise and Shyft. Not sure how safe for large money transfers.
Personally, I use Shyft and buy USD when our currency yoyos downwards. Build up a decent amount and then transfer to IBKR at a $14 fee (irrespective of amount).

It reflects usually the same or next day in IBKR. It's very quick since Shyft uses ACH to make the payment internally.

"Large money" is relative, but thus far my transfers have not missed a beat using this method.
 
The app shows how much of the R1m you've used so far. And charged R175 for the transaction.
 
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