France Expat Forum

antifreeze
Joined 2016
Posts: 50

6 years ago

online discount brokers

6 years ago

Time is growing short. By the end of September we will have made our move to Nice. Unfortunately, there are still issues with which to deal.

The current issue involves investing.

My wife and I handle our investments ourselves, through an online brokerage service, Scottrade. We've been with them for over 20 years and are quite happy with them.

However, since we are moving to Framce, Scottrade tell us that we will have to close our accounts if we live abroad, that is unless we maintain a residence address here in the states. We ca do this, we can set up a residence in, say, Florida, which has no state taxes. But there might be a problem in that all our trades will take place in France. There will be no trades emanating from America. Sooner or later his will set off a red flag and Scottrade will want to know why we are not trading from Florida, why all our trades are done in France. They will ask if we truly have a Florida residence. I suppose we could lie, but I would rather not. Instead, I think we would rather have our accounts with a French discount broker, someone we could use for our online trading. It would be a company that would allow us to buy and sell American stocks, so that we could maintain our present investing strategy.

Do any of you folks out there in expatexchange land have any suggestions? If you have any questions of me, I'll try to provide further information.

Sincerely,
Antifreeze

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