How to Identify Foreign Trades

[Piano Man]

#5188

Sean, you’d mentioned something about some large trading companies charging for foreign transactions – to the tune of $100 or so. Is there a simple way to identify foreign investments? I have a number of free trades per month with ML, but it wouldn’t be worth using them if they’re going to charge me for them like that.
So, I’d really like to know how to identify those foreign company trades.
Thanks

• This topic was modified 4 years, 4 months ago by Piano Man.

[Sean Hyman]

#5197

If you have the right broker, you don’t have to worry about that. I’ve only suggested two: Schwab and Ameritrade (which may become the same company in the coming months). There’s no way I’d suggest anyone going with Merrill Lynch. They’re the ones that charged a subscriber for a foreign trade. I just don’t believe (personal opinion) that they have your better interests at heart. It’s why you’ve never seen me suggest them.

Personally, I’m not sure why 100% of people aren’t with the brokers I suggest. I don’t get any kickbacks from either of them. But there are reasons why I suggest them and not others.

At Yahoo Finance (finance.yahoo.com), you can click on the Profile of a company and see where they’re based out of. However, if you’re with the right broker, you really don’t have to worry about any of that.

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