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Ian Inkster

New User

Posts: 2

Joined: 1/22/2004

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Subject : RE: Integrated Trading in OT
Posted : 4/30/2004 11:20 PM
Post #2919 - In reply to #2914

Hi Angela, I recently received an email from Ed, regarding FOLIOfn’s decision NOT to allow International customers to establish accounts with their company.
I would be most interested to find out what those reasons are.

Some time ago, I decided to trade the US market and contacted a broker with reasonable commission rates. After several weeks and numerous ‘phone calls, I was finally informed that since I did not have a U.S. Social Security number, I was “not allowed” to trade via a U.S.broker.

I immediately contacted Amertrade and had an account up and operational almost immediately. Funds were transferred from a U.K. account overnight to my new Amertrade account. All that I had to do was complete a W7 form.
I have a U.S.Bank account or (alternatively could deposit funds with Foliofn) and since I have proved that a Social Security number is NOT required then it would appear to be a FOLIOfn Company policy. Why?

Let me further point out, that there are literally hundreds of Australians and New Zealanders, (not to mention U.K. etc.) who daily trade the U.S. markets through large Australian based brokerage firms. To the best of my knowledge, apart from completing a W7 form, one does not have to obtain a U.S. Security number. One would think that the benefits to FOLIOfn and Nirvana would be obvious.

Angela, can you please help to change this anomaly.

Kindest regards,
Ian Inkster

Deleting message 2919 : RE: Integrated Trading in OT


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