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This is a discussion on Broker Recommendation within the US Stocks forums, part of the Equities category; I am a sub 21 student looking for the best place to buy (and short, but this isnt required) US ...

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Old Sep 30, 2009, 1:04pm   #1
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I am a sub 21 student looking for the best place to buy (and short, but this isnt required) US stocks, and I am based in the UK which rules out many of the perfect places like Scott Trade etc.

Small account minimums and none of the required 50000 salary are required, as is cheapish commisions, per share being the best outcome.

Anyone got any recommendations?

Cheers
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Old Oct 2, 2009, 3:03pm   #2
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Originally Posted by mEmmerrr View Post
I am a sub 21 student looking for the best place to buy (and short, but this isnt required) US stocks, and I am based in the UK which rules out many of the perfect places like Scott Trade etc.

Small account minimums and none of the required 50000 salary are required, as is cheapish commisions, per share being the best outcome.

Anyone got any recommendations?

Cheers
No recommendations but you might be interested in this:

I have been having a discussion on another forum regarding the purchase of US stocks (by UK residents) and the treatment of dividends (tax).
Apparently they deduct 30% US Withholding tax from dividends and will not accept a W-8BEN from their clients "as they are execution only".
Does anyone know who does their clearing and what happens to the dividends they receive into their nominees as regards taxation?
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Old Oct 31, 2009, 4:12pm   #3
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Originally Posted by raysor View Post
No recommendations but you might be interested in this:

Does anyone know who does their clearing and what happens to the dividends they receive into their nominees as regards taxation?
The 30% was converted to withholding tax to be submitted to the US Treasury account. This is a foreign tax payment and your tax accountant would be able to tell you what to do with it when you do your tax return for year end.
Last edited by songcon; Oct 31, 2009 at 4:14pm. Reason: The subject was filled out incorrectly
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