Interactive Brokers Allows U.S. Expats To Invest With Index Funds

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money-shark

If you’re an American international teacher, you might have a tough time opening a U.S. based investment account.

Plenty of sharks offer offshore options.

But these accounts cost a fortune in fees, they incur massive IRS taxes (when filed properly) and they hammer investors who try to withdraw money before a predetermined date. Investors aren’t often told about these penalties.

I’ve just written about an excellent, low cost alternative for American expats, whether they want to DIY or use one of two investment guides to help them.

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Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (Wiley 2011) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I'm happy to comment on your questions. However, please read the Terms of Use.

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6 Responses

  1. Ben says:
    September 24, 2016 at 11:03 pm

    I’ve been with Interactive Brokers for almost a year and its been wonderful. Learning their trading platform isn’t hard if you watch the tutorial and gain experience for a few weeks on their paper-trading (demo) setting. And don’t let the negative reviews of IB’s customer service scare you, calling in has only given me helpful advice. If they’re a bit gruff with you, remember the lack of frills is a result of you paying very very very low fees.

    Reply
  2. Nawaz says:
    October 2, 2016 at 8:47 pm

    Hi.
    My wife and I are US citizens who live in Singapore. We have an US based advisor who is associated with UBS. She has be advising us for the last 7 years and charging us 1.5%. We have decided to end our relationship with our advisor and UBS.

    We have both our IRAs and Roth IRAs with our advisor.
    We also have 2 college savings account (529s) through our advisor.

    I have researched Andrew’s articles and have read both his books.

    What are my options to roll over our IRAs, Roths, and 529s since none of the US based discount brokers will allow us to create accounts?

    Any pointers will be much appreciated.

    Reply
  3. Nawaz says:
    October 4, 2016 at 1:19 pm

    Thanks. Have contacted Mark and will engage him.

    Reply
  4. kannan says:
    October 6, 2016 at 2:10 pm

    hi Andrew,

    I have been reading about binary options, what’s your opinion about shares and binary options as I m new to shares.

    thank you
    kannan

    Reply
  5. Ethan says:
    February 9, 2017 at 7:21 am

    Hi Andrew!

    Thanks for all the great work you do. I really enjoy Millionaire Teacher and have used it to help define my investing strategy.

    I’m an American citizen which obviously complicates the investing situation if you’re an expat. Is your new book The Global Expatriate’s Guide to Investing relevant for American citizens? As a Canadian citizen and resident I’ll probably retire here but the US citizenship adds considerable complication to investing. Do you have any advice for people that are in my situation? Canada has some great low fee ETFs that I could build (e.g. Canadian Couch Potato strategy) so I’d like to go that route. Do you have any suggestions?

    Reply

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