I am looking for an online broker, open to non-US residents and non-US citizens, to buy futures (in this instance crude oil).
Here are some other constraints:
-I want to avoid brokers who charge inactivity fees or penalties. If it is unavoidable then these charges should be minimal.
-I want to pay USD 5,000 or equivalent to open the account and maximum USD 10,000.
I’d love to hear your reccommendations.
It depends on what you are looking to do. Are you managing an account solely for yourself or for others? Are you looking to investing in individual stocks, ETF Option or mutual/index funds?
I use Charles Schwab and am pretty happy, although I don’t like paying a $50-$60 ticket charge for some mutual fund trades.
etfs and stocks td amertirade
cheap etfs vangaurd
cash management/ brokerage/ credit card fidelity.
^ This guy is looking to invest from Serbia I’d guess. Probably not as straight forward to just sign up.
IB (Interactive Brokers) - I know two non-US people who use it, purealpha on this board (Korea) and a European acquaintance (France.)
IB is great, it seems a lot of people on this forum use them. But you do need $10K minimum to open an account (which is right at the OP’s limit). They don’t have “inactivity fees”, but they do have various fees depending on how much data you want (and some of those fees are waived if you trade a lot in a given month). Their “Trader Work Station” stand-alone app is super powerful, but does takes some time to understand and customize for your needs.