Webull For Non-U.S. Residents
Webull does accept new account applications from non-U.S. residents.
Webull's supported countries list is as follows:
- United States
- UK
- Japan
- China
- India
- Brazil
- South Korea
- Turkey
- Philippines
- Malaysia
- Learn more...
Alternative to Webull For Non-U.S. Residents
If you don’t live in one of these countries, you can still trade stocks and other securities listed on U.S.
exchanges. All you need is a brokerage account at Firstrade.
Free Firstrade Account
Visit Firstrade Website
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 $250. 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
Visit ZacksTrade Website
Why Choose Webull?
Webull is an excellent broker that provides access to many investment opportunities (including IPOs) and traders at the broker have a lot of options to engage with those opportunities.
Webull traders can take advantage of a variety of trading platforms, including a web-based trading platform, a standalone desktop platform, and a mobile app.
Apart from the well-established trading platform and tools, Webull also offers one of the lowest-cost IPO programs in the brokerage industry.
While many brokers require account minimums of anywhere from $100,000 to $500,000 just to be able to bid on IPOs, Webull allows its traders to take part in the world of IPOs with as little as $100 in their trading account.
In addition to the low account minimums, the fact that traders now bid on their favorite IPOs from the convenience of a mobile app is a game changer. Webull has done very well to bring IPOs into the trading mainstream.
Open Webull Account
Up to 75 FREE fractional shares when you make a deposit at Webull.
Visit Webull Website
Webull’s IPO Trading
To get started trading IPOs on Webull, one of the most important things to know is how to find the order form to get the process started. For starters, IPO bids can only be placed from the mobile app. This fact can be a bit confusing since the desktop and web as based trading platforms do not explicitly say that IPO bids are not supported.
From the app, investors interested in IPOs can navigate to the ‘Markets’ menu, then the ‘IPO Center,’ then the list of available IPOs. Once the list is open, traders have a couple of useful options available to them.
The first useful item is the link to the company’s prospectus which shows a detailed overview financials, company outlook, and overall targets. The prospectus kept by looking at the prospectus, traders can decide about the price they’re willing to pay more easily.
After reviewing all of the available information and deciding on fair price for the IPO, traders can use the IPO bidding tool on the Webull mobile app. All that is required is to select the number of shares, enter the desired price and submit the order.
IPO Trading Tips and Reminders
While trading IPOs on Webull, or any other broker for that matter, there are some details related to IPO trading that do not exist for other asset classes and products. Here are some things to keep in mind:
No matter how many IPO shares are requested, the number of shares that traders get will be decided by the company offering the shares or by the broker. Quite often, all of the requested shares are granted to the investor. However, sometimes only a partial order is filled, and other times no shares may come at all.
Another important thing to keep in mind is that the companies offering the shares expect IPO shareholders to hold onto their stock for at least a month. Selling IPO stock early for the purpose of profit-taking or risk management is considered flipping and the practice is discouraged. Flipping IPOs can result in the brokerage limiting your future IPO access.
Free Webull Account
Up to 75 FREE fractional shares when you make a deposit at Webull.
Visit Webull Website
Updated on 7/2/2024.
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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