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conewrench
Joined: 28 Apr 2007
Location: Seoul
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 Posted: Sun May 31, 2015 7:11 pm Post subject: Advice for choosing a stock-trading platform? |
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Not sure if this has been covered before, but I was wondering if anyone can share their experiences with different online stock-trading platforms, like e-trade. Are there any advantages to using Korean banks, such as Kioom (기움증권)? I'm looking to open a self-directed account, and I'm wondering about how to go about doing it.
Also, what are the tax implications of profiting from (or losing money with...) stock trades in Korea? Do investors have to pay tax on capital gains? Dividend income?
Not sure if this affects my options, but I'm married to a Korean and have an F-visa.
Any information would be helpful.
Thank you! |
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mr_thehorse
Joined: 27 Aug 2013
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| Posted: Sun May 31, 2015 8:20 pm Post subject: Re: Advice for choosing a stock-trading platform? |
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| conewrench wrote: |
Not sure if this has been covered before, but I was wondering if anyone can share their experiences with different online stock-trading platforms, like e-trade. Are there any advantages to using Korean banks, such as Kioom (기움증권)? I'm looking to open a self-directed account, and I'm wondering about how to go about doing it.
Also, what are the tax implications of profiting from (or losing money with...) stock trades in Korea? Do investors have to pay tax on capital gains? Dividend income?
Not sure if this affects my options, but I'm married to a Korean and have an F-visa.
Any information would be helpful.
Thank you! |
Depends on if you plan on trading foreign or domestic securities. I trade purely foreign futures, and there is no capital gains taxes for foreign futures, which is freakin' great. Not sure about foreign equities. |
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isitts
Joined: 25 Dec 2008
Location: Korea
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| Posted: Mon Jun 01, 2015 12:03 am Post subject: Re: Advice for choosing a stock-trading platform? |
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| conewrench wrote: |
Not sure if this has been covered before, but I was wondering if anyone can share their experiences with different online stock-trading platforms, like e-trade. Are there any advantages to using Korean banks, such as Kioom (기움증권)? I'm looking to open a self-directed account, and I'm wondering about how to go about doing it.
Also, what are the tax implications of profiting from (or losing money with...) stock trades in Korea? Do investors have to pay tax on capital gains? Dividend income?
Not sure if this affects my options, but I'm married to a Korean and have an F-visa.
Any information would be helpful.
Thank you! |
I use E*trade. The stocks I've bought have been US companies so any capital gains or dividends I get would be taxable...if they were large amounts. So far they haven't exceeded my standard tax deductions.
E*trade also has a global account where you can trade currencies and stocks on (some) foreign markets, but those transactions cost more...like in the days before online brokers. A lot of foreign companies have Depository Receipts (DR) that let you trade their stock from your home country's exchange. So that would be an option if you can't trade in a foreign market.
As for trading on Korea's stock exchange, I'm afraid I don't know. |
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neilio
Joined: 12 Oct 2010
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| Posted: Tue Jul 07, 2015 6:08 pm Post subject: |
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| Andrew Hallam has a good book titled "the global expatriates guide to investing" where he gives advice on your question from an expats perspective. Worth a read. The nominal fee might save you $hundreds of thousands (literally) throughout your lifetime. |
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