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81
Shares / Re: Offshore broke4s
« Last post by IndustryGuy on January 23, 2020, 12:22:23 pm »

Yozzi - thanks for the response - will also pursue this avenue. However some of the responses I have received seem to think that I want to trade in currencies and CFD's - this is not my intention at all, I want to buy shares in e.g. Royal Bank od Scotland, Ralph Lauren Clothing, RCI Hospitality etc.. So what I'm really looking for is an account from which I can fund my broking purchases initially and then having a portfolio account with a broker (as per my RSA set up) and that I can buy/sell over their platform augment and or change my portfolio as required

Hope this clarifies where I want to be and how I want to operate
[/quote]

Hi GCR. I really think we can assist you. I sent you a personal message.
82
Shares / Re: Offshore broke4s
« Last post by gcr on January 23, 2020, 10:47:58 am »
Thanks Patrick - will explore further

GCR - Speak to Mike Brown at ETFSA as they can assist with an offshore account which you can fund from SA by using one of the money transfer companies as mentioned by Patrick. Their rates are good and very helpful too and I'm no expert but I do have a UK bank account and I want to buy ETF's offshore and using the money transfer system seems the easiest option to me.
Yozzi - thanks for the response - will also pursue this avenue. However some of the responses I have received seem to think that I want to trade in currencies and CFD's - this is not my intention at all, I want to buy shares in e.g. Royal Bank od Scotland, Ralph Lauren Clothing, RCI Hospitality etc.. So what I'm really looking for is an account from which I can fund my broking purchases initially and then having a portfolio account with a broker (as per my RSA set up) and that I can buy/sell over their platform augment and or change my portfolio as required

Hope this clarifies where I want to be and how I want to operate 
83
Shares / Re: Offshore broke4s
« Last post by yozzi on January 23, 2020, 09:46:10 am »
Thanks Patrick - will explore further

GCR - Speak to Mike Brown at ETFSA as they can assist with an offshore account which you can fund from SA by using one of the money transfer companies as mentioned by Patrick. Their rates are good and very helpful too and I'm no expert but I do have a UK bank account and I want to buy ETF's offshore and using the money transfer system seems the easiest option to me.
84
Shares / Re: Offshore broke4s
« Last post by gcr on January 22, 2020, 06:50:41 pm »
Interesting, I have SASFIN account with local shares , and also use SASFIN to buy offshore, which is DMA.  :whistle:
jaDEB - when you sell your foreign shares where do the proceeds default to - 1) a Rand denominated account in SA 0r 2) a foreign currency account in your name in the foreign country or 3) a SASFIN account styled in your name in the foreign currency of the shares sold.

Be interested in hearing your answers
Thanks
85
Shares / Re: Offshore broke4s
« Last post by jaDEB on January 22, 2020, 04:34:51 pm »
Interesting, I have SASFIN account with local shares , and also use SASFIN to buy offshore, which is DMA.  :whistle:
86
Shares / Re: Offshore broke4s
« Last post by gcr on January 21, 2020, 10:30:04 pm »
Thanks Patrick - will explore further
87
Shares / Re: Offshore broke4s
« Last post by Patrick on January 21, 2020, 05:29:33 pm »
I'll do my best GCR, but for now why don't you simply open an account with Interactive Brokers? You don't need a foreign bank account, you can simply transfer into them using exchange4free or clickfx or similar, and they trade on practically every market out there.

The offshore bank account is a middle man you don't really need (though I still think it's a good idea if you plan to jump ship SA).
88
Shares / Re: Offshore broke4s
« Last post by gcr on January 21, 2020, 03:24:36 pm »
Patrick - thanks for this feedback.
If you do come out with a blog, would you cover some or all of my listed curiosities:-
* How to open a foreign bank account - required to opened in person, or, can it be done from country of residency i.e. SA
* Most banks require an opening deposit in the currency of the banker
* Though most countries in the world don't enforce exchange control - here in SA they do and you are limited as to how much you can export overseas - currently a R1 million but reasons are required as to how funds will be used (buy property/holiday/business venture etc.)
* If you find a friendly bank who will open such and account for you do they have a trading platform that can feed into the NYSE; LSE, or even the DAX. If not who do they use as stockbrokers to enable you to trade over any of these exchanges.
* Given that you may have opened a foreign bank account you would have to instruct them to transfer funds to companies like Credo or SAXO and all along the line you pay fees to transfer and fees to place in your trading account. Thus fees could be a real killer

My ultimate objective would be to have a share trading account with an overseas operation where-over I buy and sell foreign country shares as quoted on the major stock exchanges but in reality can execute buy/sell orders from RSA

That about sums up where I want to be

Thanks for listening/reading
89
Off topic / Live chat
« Last post by jaDEB on January 20, 2020, 05:12:21 pm »
It is sad, so sad.
90
Off topic / Live chat
« Last post by Patrick on January 20, 2020, 03:44:27 pm »
It takes so many views to see the numbers properly from behind the tears
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