Zackstrade

Charles Schwab for Non-U.S. Citizens in 2022



Charles Schwab For Non-U.S. Residents


Charles Schwab is a leading discount broker in the United States and has an impressive $7.8 trillion in total client assets, with more than 6 million daily trades on average and more than 32 million brokerage accounts. Schwab thus appeals not only to individual investors but institutional clientele as well.

But does Schwab offer non-U.S. citizens its highly rated services? Read on to learn more.


Can International Citizens Open a Schwab Account?


Yes, non-U.S. citizens can open a Schwab account to access U.S. markets directly by opening an account at international.schwab.com.

To open your account, you’ll need your Tax ID number or Social Security Number, a passport or government ID, a recent utility bill or other proof of residency, employer’s name and mailing address (if applicable), and a printer and scanner to print, sign, and upload required documents.

To get started, Schwab International requests that you select your country/region of residence from a dropdown list. A quick eyeball estimate of this list looks like it covers much of the world geographically speaking, including what looks like at least one hundred and fifty countries.


Are There Any Limitations/Minimums?


In general, you can benefit from Schwab’s wide range of investment offerings, long experience in the financial advisory niche, and commission-free trades. That said, there is a minimum requirement of $25,000 USD to open an individual or joint account. Besides this minimum, there don’t appear to be other restrictions for non-U.S. citizens to open a Schwab International account.


Charles Schwab Alternative For Non-U.S. Residents


Not everyone can afford to open a Charles Schwab international account with $25,000. Fortunately, there is a U.S. brokerage firm that welcomes international investors - Zackstrade. The company has some of the lowest margin rates in the industry, offers a professional trading platform, and access to 91 exchanges around the world. Learn more about the company in the 2022 Zackstrade Review.


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Zackstrade for non-U.S. Citizens


If you’re wanting to trade securities on the U.S. exchanges but you’re outside the United States or you’re not a U.S. citizen, you may find yourself left out in the cold looking for a brokerage firm. Well, look no further. Zackstrade is one of the few brokerage firms in the U.S. to accept applications from non-U.S. citizens.

Top Ten Reasons Why Zackstrade is a Good Broker for non-U.S. Citizens


1. Many Available Countries


Besides residents of the United States, Zackstrade will accept applications from residents of a long list of countries. In total, there are over 200 eligible countries on this list. Examples include:

Poland
China
Mexico
Germany
United Kingdom


2. Several Accounts to Choose From


Zackstrade offers several account types. These, of course, include individual and joint accounts. Here are a few others:

Custodial accounts
Partnerships
Retirement accounts
Business accounts
Institutional accounts for hedge funds


Charles Schwab international


3. Easy Online Application


At Zackstrade, all that is required is a few minutes on the broker’s U.S.er-friendly online application. You will need to select your citizenship and country of residence on this form. If you were born outside the U.S. or have non-U.S. citizenship, you will need to check a box indicating this. You will also need to specify your country of tax residency. If you do not have a U.S. Social Security Number, you can enter an equivalent number from another country.


4. Application Is in Multiple Languages


One of the really great features of Zackstrade’s online application is that it can be toggled among 10 languages. Examples include Italian, German, English, French, and Chinese. The drop-down menu for this feature is located in the very top-right menu; it is displayed right next to your account number, which will be created before you even finish the application.


5. Global Securities


Besides the ability to trade assets on the U.S. exchanges, Zackstrade customers have access to over 90 exchanges in 19 countries. Examples include:

Hong Kong
Japan
Russia
Australia
Canada

Obviously, Zackstrade has a much greater global emphasis than other brokerage firms.


6. Clear Commission Schedule


Because Zackstrade offers investing services in so many markets around the world, you may think the broker’s pricing schedule would be very complicated. Although commissions do vary from one market to the other, IB publishes its trading fees in an easy format that shows in plain language what a trade in a particular region will cost.


Charles Schwab account for non us residents


7. Online Customer Support


If you’re located outside the United States, calling the broker over the phone for assistance may not be the most convenient method of obtaining assistance. Fortunately, Zackstrade has a very good online chat feature; just click on the orange talk button located in the lower right corner of the website. During our testing of this widget, we have consistently received quick and competent service; so this is a great way to reach a Zackstrade associate, even for American users.


8. Advanced Software With Global Access


Zackstrade’s software platforms provide user-friendly trading capability on foreign exchanges. For example, its desktop platform Zackstrade Pro can trade a wide variety of financial instruments (warrants, bonds, stocks, etc.) on many foreign exchanges (such as the London Stock Exchange and the Tokyo Stock Exchange).

All you need to do is type in a ticker symbol or company name and a list of products will appear on various global exchanges. For example, when we typed in Nestle, we received a list of Nestle securities trading on a variety of exchanges, including securities trading on the Swiss exchange, Mexican exchange, and U.S. pink sheets.


9. Instructions for Foreign Accounts


Zackstrade maintains a list of frequently asked questions (FAQs) on its website. These answer many questions new clients may have. Of particular importance, there is the section on foreign accounts. These questions and answers may help provide guidance to non-U.S. citizens who are trying to open accounts.


10. No Surcharges for Broker-Assisted Trades


If all the details and information on global trading begin to overwhelm you, you can always call in (local 312.265.9406 or toll-free 888.979.2257) and place a trade over the phone with the assistance of a live representative. Zackstrade is one of the few brokers we know of not to impose any additional fees for this helpful service.


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Countries Accepted


If you are an international investor from one of these countries - Belgium, China, France, Germany, Ireland, Israel, Italy, Japan, South Korea, Mexico, New Zealand, Poland, Singapore, Taiwan, United Kingdom (Great Britain), Argentina, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Brazil, Brunei Darussalam, Bulgaria, Canada, Cayman Islands, Chile, Colombia, Comoros, Costa Rica, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Dominican Republic, Estonia, Finland, Greece, Hungary, Iceland, India, Indonesia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Monaco, Mongolia, Netherlands, New Zealand, Norway, Oman, Pakistan, Palau, Panama, Paraguay, Peru, Philippines, Portugal, Puerto Rico, Qatar, Romania, Russian Federation, Saudi Arabia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Thailand, Turkey, Ukraine, United Arab Emirates, Vietnam - then go to Zackstrade »


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About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.