Merrill Edge for Non-US Investors
For non-US investors, finding a brokerage account in the United States can be difficult as there are limited options that support international clients. If you're a non-US investor considering Merrill Edge, it's advisable to explore other options.
Keep reading to see why.
Can Non-US Investors Open a Merrill Edge Account?
It's possible, but with conditions. Non-US investors can open an account at Merrill Edge if they have a US residence. During the application, you must provide a valid US address and a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). You'll also need a valid Visa and proof of US residency to apply. If you meet these conditions, you can open an account.
However, without proof of US residency, you cannot open a Merrill Edge account.
This means if you live outside the United States, you cannot use Merrill Edge and should consider other brokers like Firstrade.
Firstrade for Non-US Investors
Firstrade is an excellent choice for non-US investors for several reasons.
Firstrade is accessible and easy to use for non-US investors. It allows investors from many countries to open and manage accounts easily.
It offers services in multiple languages, access to a wide range of US securities, low trading costs, and educational resources to help foreign investors navigate the US market.
Firstrade Fees
Firstrade is popular for its competitive fees, which are attractive to non-US investors. Here are some highlights of Firstrade's fee structure:
Commission-Free Trading: No fees for trading stocks, ETFs, and options.
Options Trading: No contract fees or commissions
Mutual Funds: No fees for no-load mutual funds.
Account Maintenance: No fees for account maintenance or inactivity.
Free Firstrade Account
Visit Firstrade Website
How to Set Up a Firstrade Account as a Non-US Investor
Setting up a Firstrade account is straightforward and quick. Here’s how you can open one as a non-U.S. investor:
Visit the Firstrade website, go to the account opening page, and enter your mobile number to get a verification code. Fill in your citizenship, date of birth, and upload your passport.
Next, enter your personal information like name, date of birth, tax ID, address, marital status, and job details. You’ll also need to provide your financial information, including annual income, net worth, and investment goals and experience.
Finally, create a username, password, and PIN, agree to the terms, fill out the W-8BEN tax form, and confirm your account via an email that includes your account number. Then, you can wire funds to start trading.
Is Firstrade a Good Broker?
While Merrill Edge is well-regarded within the United States, it doesn't cater well to non-U.S. investors. Firstrade, however, offers a friendly and supportive environment for international investors with its global reach, multiple languages support, and thorough educational materials. For non-U.S. investors looking for a dependable and easy-to-use brokerage, Firstrade is a solid alternative to Merrill Edge.
Free Firstrade Account
Visit Firstrade Website
Updated on 7/2/2024.
Ben Wright is an investor, a trader, an educator, and something of an explorer. He spends his days in the markets when he is not teaching or spending time with his family. Ben writes about stockbrokers, markets, investment vehicles, promotional offers, and tools that help investors make the most of their time in the markets.
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