Fidelity Margin Application Online: Fill & Download for Free

The best online broker for a non-US resident depends on what you are looking for. I am a customer of TD Ameritrade, Fidelity Investments, Schawb and Interactive Brokers. My comments below are as such.TD Ameritrade. Advantages: 1) Thinkorswim. Their desktop application is quite useful. Their mobile applications are among the best. 2)They have a dedicated resource to help you outFidelity Investments. Advantages: 1)Cheaper than TD Ameritrade. I like their research application the best.Interactive Brokers. Advantages: 1)Cheapest rates for contracts 2)Highest interest paid and lowest margin rate charged 3)Easiest to open account withSchawb. Advantages: 1)Cheap 2)Full refund of all ATMs fees anywhere in the world (TD Ameritrade and Fidelity only offer that for ATMs in the US).You are welcome to connect through Linkedin if you have any questions.George BenaroyaLinkedin benaroya.org Twitter

It completely depends on what you trade, your timeframe for trades, and how you trade.If you want service, research, multiple types of accounts, and everything, including your IRA, brokerage and checking and even credit cards all in one place, I think Fidelity Investments is a great option. You can get all of their accounts with no recurring fees, they are reachable by phone 24/7/365, their commissions are reasonable, service is fantastic and they even have a credit card that gives unlimited 2% cash back into you account.If you want to trade almost any product and are willing to forgo almost all service, except for help and online forums, but you want to trade cheaply and plan to trade on margin, I’d look into Interactive Brokers. They have a decent trading platform, Trader Workstation, but most importantly, their margin rates can be less than one tenth of a retail brokerage like Fidelity.Finally, if you want to trade quickly in real-time, I prefer TradeStation Securities. They have a very customizable platform and the ability to backrest, code and trade systems in real-time. Their service is good and their data and platform capabilities are extensive.

Nonresident aliens can open brokerage accounts at numerous brokers. They do not need to travel to the US and in most cases, they don’t even need to have a US visa. The application can be done entirely online and documents can be sent by fax, mail or uploaded. Below are the pros/cons of each:TD AmeritradePros: many people love the thinkorswim mobile app and reach out to me to find out how to open an account with them just because of that. I like having one assigned representative at a branch who would solve specific problems, the ability to communicate through messenger, and that they grant margin privileges to citizens of countries Fidelity doesn’t.Cons: “list price” to trade stocks is $7 instead of $5. Higher interest rates than IB. Won’t open an account to citizens of many EU countries.Fidelity InvestmentsPros: great stock and bond finder on their website, gets lower withholding taxes on Swiss investments than TD Ameritrade (e.g. Nestle).Cons: you will be speaking to a 1-800 number and will receive conflicting information. They were the best in customer service 15 years ago, now they are not.Charles SchwabPros: Cheap. Provides full refunds for ATM fees anywhere in the world. I have checked with them and they have no restrictions to open an account for residents of Spain (one of the countries that TD Ameritrade won’t open an account for).Cons: in many cases, they require a $25,000 to open an account (for non-resident aliens). For US residents, there is no minimum to open and no fees even if you don’t keep a balance.Interactive Brokers:Pros: transparent, has the most comprehensive list of countries allowed and they publish it here. Neither TD Ameritrade nor Fidelity publishes the list of countries to which they will not open accounts.One can avoid a $10 fee per month by paying commissions of $10 per month or by keeping a balance over $100K. They pay the highest interest rate and charge the lowest interest rates.Cons: they have the worst mobile app.JP Morgan Chase: they will not open an account to non-resident aliens. They responded:“JP Morgan Securities investment accounts are only open to legal residents of the United States. Non-resident aliens would not be able to open an account”.