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International Accounts for Non-U.S. Residents at Webull in 2023
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Webull For Non-U.S. Residents
Because of laws and regulations introduced in the recent years, it became increasingly difficult for U.S. brokerage firms to maintain
international investors who are non-U.S. citizens or residents. That is the reason American brokerage companies don't
accept new account applications from non-U.S. residents (even from European Union citizens and expats).
Webull is one of the companies that do not accept account applications from non-U.S. residents
aliens (including EU citizens).
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
2023 Zackstrade Review.
Open Zackstrade Account
Open ZacksTrade Account
For a European brokerage firm, we suggest a company called
DEGIRO, one of the largest brokers in Europe.
Along with low fees, you get access to more than 50 exchanges across 30 countries.
Read DEGIRO Review.
Open DEGIRO Account
Open DEGIRO Account
Commissions, Fees, and Minimum Deposit
ZacksTrade supports trading in
stocks, ETFs, mutual funds, options, and bonds.
Stock and ETF trades are
$0.01 per share ($1 minimum per trade), and for stocks priced below $1 the commission is the greater
of $3 or 1% of the trade.
Mutual fund commissions are a flat $27.50. Options trades are $1 for the first contract and $0.75
for each additional contract.
Bond commissions are $3 per bond ($1,000 face value) plus a percentage of the trade which varies based on the size and the type of bond (Municipal, Corporate, or Treasury). The percentage can be as low as 0.005% for trades over $1 million face value or as high as 0.10% for face values under $10,000.
While ZacksTrade doesn’t have any account maintenance fees, they do require a minimum account balance of $2,500. Other fees to be aware of is they will charge you a $10 monthly fee for real-time data unless you trade at least $30 in commission per month. Oddly, ZacksTrade only allows one free withdrawal per month, with all additional ACH withdrawals costing $1. Higher fees apply to withdrawals via check or wire transfer.
Trading Software, Tools and Education
ZacksTrade has a website that is used for managing your account but not for trading, that happens on their web browser, desktop, and mobile platforms. The web browser and desktop platforms offer the standard features you’d expect from all brokers, but charting is superior on the desktop app.
A plus of using ZacksTrade is that your account gets you free access to lots of education and research articles offered through the broker’s various partners, including Zacks Investment Research, Morningstar, and Seeking Alpha. Many of these partners are subscription-only, so free access through your Zacks account is a great deal.
Customer Service
ZacksTrade has an online chat feature; however we haven’t always been able to immediately get in touch with someone through this channel. On the bright side, Zacks also has dedicated phone support during business hours from 9am to 6pm EST Monday through Friday.
Brokerage for Non-US Citizens Summary
In conclusion, ZacksTrade is a popular U.S. broker with great tools that offers international accounts to citizens of most countries.
ZacksTrade Website
Open ZacksTrade Account
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.
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