Regular readers know I use Schwab for buying stocks not readily available on US exchanges. These include 3i Group (III/LN), ArmorGroup International (ARG/LN or AMGPF/OTC) and Takefuji Corp. (8564/JP or TAKAF/OTC). Theresa Carey writes in the Electronic Investor column in Barron's that E*Trade has gotten in the game. It launched its Global Trading platform on February 20:
The goal of the new platform is to give U.S.-based customers access to six foreign markets, and give them the opportunity trade in multiple currencies as well. The six markets in the platform's debut are Canada, Hong Kong, the U.K., France, Germany and Japan. Ultimately, E*Trade plans to give customers access to 42 exchanges.
According to Barron's, E*Trade customers have to set up another E*Trade account to access the new platform. Which I don't like. With Schwab, I can buy foreign stocks inside any account -- regular brokerage or IRA or whatever.
But I'm all for more brokers getting into the game and giving retail investors more opportunities to invest globally.
If you're a new reader of this blog, you might want to check out a couple of my previous posts on international investing, How to Buy Stocks Listed on Foreign Exchanges and How to Research Foreign Stocks.
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