Hi guys,
As an investor who lives in New Zealand, I use a brokerage called HATCH to invest in the stock market. A huge disadvantage of using this brokerage is the transaction fees which is US$3 per transaction.
I am looking at opening an account with TD Ameritrade as they have zero transaction fees but I would like to know if there are other alternative brokerage accounts someone outside the US can use which have zero transaction fees?
Appreciate the help in advance.
Steve
Hey Steve,
A few years ago a single trade was $25+ in the US. Until recently pretty much every brokerage charged at least $5-$10 per trade. Only within the last year did trades drop to $0 in the US when Robinhood forced the issue. The rest of the world doesn’t yet seem to enjoy these ultra low cost of trading.
That said, $3/trade actually seems pretty good to me. Hopefully you’re putting in a few hundred bucks at a time at least, making the $3 nearly rounding error for buy and hold investing. I wouldn’t worry about it other than to make sure you’re dropping in decent chunks of change at a time.
Thanks for the reply Jeremy. Yep, I usually deposit about $400 NZD every month and I am a buy and hold investor. Ok great, thank you for your help 