Forum Archive Index - June 2001

["Christian Mair" <product@adidas-ep.co.nz>]

Sandy,

Just to confirm Mike's points. I have just opened an account with Datek not long ago and the whole procedure was smooth and reliable. You will find that investing in US markets is much easier than in NZ as you have heaps of information on your screen with the click of the mouse. I have posted on the Message Boards with the subject "how to get started". You might want to read that subject and others under 'International Sharemarkets'. At the moment I hold NCO Group (NCOG) and wait to increase my holding.

Regards,

Christian

 

P.S. Great post Mike!

 

-----Original Message-----
From: owner-sharechat@sharechat.co.nz [mailto:owner-sharechat@sharechat.co.nz]On Behalf Of Mike Hudson
Sent: Monday, 18 June 2001 9:26 p.m.
To: Sharechat
Subject: Re: [sharechat] nasdaq how do you trade in New Zealand?

Sandy

 

There are many online brokers you can use. I use Datek as do other members of this forum. You will be blown away by the steaming quotes, portfolio summaries etc that are available.

 

Go to www.datek.com and have look round the site and if you like what you see click on Open an Account

 

Download and complete the online registration form. Once you are registered you will be allocated an account number and be able to access all the info on the site which will give you a good idea of its functionality.

 

You will also have to print a copy, sign it and send mail it to them. You will also need to complete a form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding; This is needed for the US tax authorities and you should be able to download a blank form from the site

 

You will then receive a notification the the account has been approved.

 

Then you need to fund the account either by sending over a bank draft in US$or by telegraphic transfer.

 

You will then get an e-mail notification the your account has been funded and then away you go. The whole process should take about ten days

 

You can trade in any of the US listed stocks, warrants,and options. You can also trade on margin and/or sell short if you have the nerve.

 

Trades cost a flat $9.99

 

You can have a cheque book on the account if you want one.

 

I have used them for over a year and found them excellent.

 

If you want any more info please feel free to e-mail me

 

Cheers

Mike H