The JSE and finance forum for South Africa
General Category => Shares => Topic started by: Charl Du Plessis on April 25, 2017, 11:10:10 am
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Hey Everyone :)
As stated in the Subject, I'm searching for Brokers that allow me to buy stocks that pay dividends monthly.
For example Realty Income (O)...
The criteria is as follows:
- Free/Low/Reasonable Commission Fees
- None or Very Small Starting Amount... eg Interactive Brokers needs $10,000 just to have an account with them... (I have R0.00)
I can consistently Afford investing R5000 into such shares. (Monthly Dividen Shares.)
Please kindly list some broker suggestions for me and how much commission is charged as well as the starting amount needed.
Update: I just came across this list.. http://www.dividend.com/best-online-brokers/
Update.. :( You have to be a US Resident to use TradeKing.com or optionshouse...
Update.. So it seems like Ameritrade is the only viable option at this point in time ($10 per trade) unless someone can recommend another?
Still waiting on suggestions.
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Local or foreign?
It's pretty hard to beat easy equities on ease of use and fees locally. For foreign, the cheapest is de giro. No minimum, no monthly fees, but you need a US or EU bank account.
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Local or foreign?
It's pretty hard to beat easy equities on ease of use and fees locally. For foreign, the cheapest is de giro. No minimum, no monthly fees, but you need a US or EU bank account.
Foreign.
Looks good, but no cigar... Don't have a US or EU bank account :(
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I am not sure that you will find shares that pay dividends monthly - and are you looking local or foreign markets. If you are able to generate an investable amount of R 5,000 per month (presumption) then you may be better off investing a 32 day account with interest back into the source account. There are not too many ETF that will give you a reasonable dividend return that will compete with a short term bank investment, and I am not aware that any equity based investment gives you a monthly dividend stream most are quarterly as the shortest cycle
It may pay you to accumulate some funds as a short term approach in a monthly returning investment and then when you have the prescribed minimum deposit requiremtn move the funds to that account to purchase your equities.
The big issue for me is your need for a monthly dividend stream which I don't think you will find - maybe a forumite can clarify if such funds do in effect exist
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Local or foreign?
It's pretty hard to beat easy equities on ease of use and fees locally. For foreign, the cheapest is de giro. No minimum, no monthly fees, but you need a US or EU bank account.
Foreign.
Looks good, but no cigar... Don't have a US or EU bank account :(
Can't you use make use of one of FNB's Global Accounts?
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I am not sure that you will find shares that pay dividends monthly - and are you looking local or foreign markets. If you are able to generate an investable amount of R 5,000 per month (presumption) then you may be better off investing a 32 day account with interest back into the source account. There are not too many ETF that will give you a reasonable dividend return that will compete with a short term bank investment, and I am not aware that any equity based investment gives you a monthly dividend stream most are quarterly as the shortest cycle
It may pay you to accumulate some funds as a short term approach in a monthly returning investment and then when you have the prescribed minimum deposit requiremtn move the funds to that account to purchase your equities.
The big issue for me is your need for a monthly dividend stream which I don't think you will find - maybe a forumite can clarify if such funds do in effect exist
So, through TradeKing if I open an account, and pay $4.95 for 1 trade... of about R5000 invested into say... (ARR), right now @ 9.5% monthly dividend, I'll be getting R477 monthly (as it stands). When I see the figure lowering, I can just move my money.
Even if I'm taxed 30% of that... its still good.
So I'm really just looking for better brokers atm.
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9.5% p/month - wouldn't that be great. in dollars nogal. There are ponzi schemes that offer less!
I doubt it - must be per year, even then, that's a pretty good div/yield for the states. in sa there are a couple of REITs paying around 11% per year.
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9.5% p/month - wouldn't that be great. in dollars nogal. There are ponzi schemes that offer less!
I doubt it - must be per year, even then, that's a pretty good div/yield for the states. in sa there are a couple of REITs paying around 11% per year.
http://www.dividend.com/dividend-stocks/financial/reit-diversified/arr-armour-residential-reit-inc/
You sure its not legit?
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9.5% p/a paid in monthly increments of course.
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9.5% p/month - wouldn't that be great. in dollars nogal. There are ponzi schemes that offer less!
I doubt it - must be per year, even then, that's a pretty good div/yield for the states. in sa there are a couple of REITs paying around 11% per year.
http://www.dividend.com/dividend-stocks/financial/reit-diversified/arr-armour-residential-reit-inc/
You sure its not legit?
Just be careful, I see ARR cut their dividend by 13% in Jan '17. Maybe first make sure the co is still solid?
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9.5% p/month - wouldn't that be great. in dollars nogal. There are ponzi schemes that offer less!
I doubt it - must be per year, even then, that's a pretty good div/yield for the states. in sa there are a couple of REITs paying around 11% per year.
http://www.dividend.com/dividend-stocks/financial/reit-diversified/arr-armour-residential-reit-inc/
You sure its not legit?
Just be careful, I see ARR cut their dividend by 13% in Jan '17. Maybe first make sure the co is still solid?
Yeah, was just an example, however I'd probably go for the more reliable Monthly Dividend Companies like Realty Income (O).
Still though, I need a low cost broker... Currently signing up with Ameritrade, because its the only one that I can find that serves Non-US traders like myself...
Still waiting for better suggestions.
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Did do a bit of looking a while back it seemed you had to have an overseas bank account - please let us know if find out differently.
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Yeah, I found out as well that you need an overseas account.
I ended up going with Ameritrade.
That being said, I'm still looking for a cheaper broker.
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Yeah, I found out as well that you need an overseas account.
I ended up going with Ameritrade.
That being said, I'm still looking for a cheaper broker.
Hi Charl.
How are you finding Ameritrade? What are the costs/processes like?
I am still waiting for the Easy Equities offshore solution...Hoping for some details soon!
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Local or foreign?
It's pretty hard to beat easy equities on ease of use and fees locally. For foreign, the cheapest is de giro. No minimum, no monthly fees, but you need a US or EU bank account.
Patrick, Quick one!
I have a Netherlands account open which I use to administer a pretty much US-based investment portfolio
I have this as I lived there several years ( now back in SA )
Looking at De Giro , definitely look like the best fee structure vs a bank
To sign up though they were asking for EU or UK address ? are there ways around that?
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Local or foreign?
It's pretty hard to beat easy equities on ease of use and fees locally. For foreign, the cheapest is de giro. No minimum, no monthly fees, but you need a US or EU bank account.
Patrick, Quick one!
I have a Netherlands account open which I use to administer a pretty much US-based investment portfolio
I have this as I lived there several years ( now back in SA )
Looking at De Giro , definitely look like the best fee structure vs a bank
To sign up though they were asking for EU or UK address ? are there ways around that?
I am in the same boat, one other thing that bothered me. Lets say you manage to open the account, then a couple of years later something goes wrong with your EU bank account for example they close it because you are not using it enough, etc. As far as I know De Giro will not allow you to withdraw money from a different account than the one you used to deposit money with. Then you are screwed.
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Where is the restriction for EU addresses? I tried to run through the registration page and was able to choose SA for telephone and address, but couldn't get past the IBAN as my US bank doesn't have one.
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BTW - a while ago I did email ameritrade about opening an account with a SA bank account ::
Thank you for letting me know your country of residence. You can open an account at TD Ameritrade as a resident of South Africa and we will need to receive the following:
A completed and signed account application (you can use the online account application to open your account, but be sure to print it out before you submit it online to sign and date and send in with this other required documentation)
A copy of your current passport and a copy of a bank or financial statement
A completed and signed W-8 BEN form (copy attached).
You can send all of this as an attachment to this email to be processed, and if you have any other questions, please let me know.
We appreciate your interest in opening an account at TD Ameritrade and I hope you are having a good day!
Best Regards,
Elizabeth McNeil
New Accounts, TD Ameritrade
TD Ameritrade, Inc.