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MaxKrak

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May 7, 2018
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#1
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Hello, I'm new and I want to ask one question.

I'm from Ukraine and I want to start investing in stocks through an American broker. In order not to pay taxes in my country, I want to open an account with a bank in another country.

I tried to register in Leupay, but there were problems with verification, their application will not connect me to them, although I have a good Internet.

Also tried through Epayments, but do not work with Interactive Brokers...

Advise a bank or service where can transfer money by bank Wire transfer and who works with American brokers.
 
#2
Hi welcome.

I didn't think Europeans were allowed to open accounts at IB's US entity. I thought you were forced to open with their UK entity. I could be wrong.
 
#3
Martin Everson said:
Hi welcome.

I didn't think Europeans were allowed to open accounts at IB's US entity. I thought you were forced to open with their UK entity. I could be wrong.
Click to expand...

In Interactive Brokers, I have already opened an account, it only remains to replenish it. Can you advise the bank, where it is possible to send Wire transfers?
 
#4
Sorry did you open with IB in US or Europe?
 
#6
It's not so easy as that.

If you use the main site www.interactivebrokers.com and put your location as one in Europe you get sent internally to IB UK i.e interactivebrokers.co.uk. Same if you put your address as one in Asia like Singapore you get redirected to IB Hong Kong www.interactivebrokers.com.hk.

From my experience IB US refuse European clients. Same like Charles Schwab US they send you to Charles Schwab UK

So please double check with them you don't have an account with IB UK.
 
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#7
Ukraine is not part of the European Union, so I think I was allowed.

Here's the letter came 3 days ago - Screenshot
I was confirmed by all the documents and I know for sure that I have an active account.

I need a bank account in which I can discover through the Inernet and that can send Wire transfers!
 
#8
The letter says "Interactive Brokers (UK) FCA 208159". You have opened a UK IB account like I suspected and not a US one :-(

Just use a standard EMI to send in funds. Try like Transferwise or Mistertango for example as the accounts are in your name. If they insist on it being a real bank then worry about that later.
 
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#9
I opened an IB account from Asia. The site redirects to the HK entity by default, but a simple private US VPN was enough to open with IB US. I entered an Asian address and still had no problem signing up with the US entity (i.e. Interactive Brokers LLC). As long as my IP showed up as US, that's where my forms were submitted and that's where the account opened.
 
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#10
Martin Everson said:
Try like Transferwise
Click to expand...
TW does indeed give out private account numbers, but, last time I checked, when you transfer out from them they use their own accounts for the transfer, so the transfer doesn't show up as being from you. IB requires the source account to be in your name, so this may lead to issues. It may or may not be approved by IB support.
 
#11
The fact is that I do not redirect to HK, so I thought I opened an account in US. But it does not matter how the person above has already written - I need an account in my name. I must replenish the balance with him and withdraw money from him. There is a solution?
 
#12
I know MisterTango does send out in your name. I didn't know TW doesn't...good to know..thx.

@MaxKrak The solution is to try MisterTrango account to send funds to broker.

@Nyep I will try using a VPN the next time I try opening an account. I thought the selection of the regional IB office they send you too was hard coded into your country of residency. But you say its just an IP issue that's interesting.
 
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#13
I opened an account with MisterTrango. But this is not what I need. I need a real bank account with my requisites. From which I can send a bank WIRE transfer. And after a while on the same requisites get the money.
 
#14
MaxKrak said:
I need a real bank account with my requisites. From which I can send a bank WIRE transfer. And after a while on the same requisites get the money.
Click to expand...
IB will happily do inward and outward SEPA transfers. They're awesome that way. They will do SEPA for Europeans, ACH for Americans, and even other local transfers from some other countries. Of course, they will also happily do SWIFT, if you must resort to that.
 
#15
Nyep said:
IB will happily do inward and outward SEPA transfers. They're awesome that way. They will do SEPA for Europeans, ACH for Americans, and even other local transfers from some other countries. Of course, they will also happily do SWIFT, if you must resort to that.
Click to expand...

So, how do you recommend transferring money to them? After all, I'll need to get them back to the same account later.
 
#16
MaxKrak said:
So, how do you recommend transferring money to them?
Click to expand...
Literally any account in your name will work, as long as funds will appear as being transferred from your name. SEPA, ACH, SWIFT, local transfers from many countries.
MaxKrak said:
After all, I'll need to get them back to the same account later.
Click to expand...
You don't need to return the funds to the same account. You can transfer them to ANY account as long as it has your name on it. All transfer methods above supported. You get one free transfer to anywhere once a month.
 
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#18
MaxKrak said:
I'm from Ukraine and I want to start investing in stocks through an American broker. In order not to pay taxes in my country, I want to open an account with a bank in another country.
Click to expand...

So you opened with IB UK as proven in your screenshot and not IB US as your wanted. I don't mean to be rude but if you cannot tell in which country you opened a brokerage account, when it is clear as daylight it is UK, then pause and think whether you really know what you are doing.
 
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#19
Nyep said:
TW does indeed give out private account numbers, but, last time I checked, when you transfer out from them they use their own accounts for the transfer, so the transfer doesn't show up as being from you. IB requires the source account to be in your name, so this may lead to issues. It may or may not be approved by IB support.
Click to expand...
that's correct, when you send from TW you are not sending from your name, transaction is recorded as sent by third party.
 
#20
MaxKrak said:
Hello, I'm new and I want to ask one question.

I'm from Ukraine and I want to start investing in stocks through an American broker. In order not to pay taxes in my country, I want to open an account with a bank in another country.

I tried to register in Leupay, but there were problems with verification, their application will not connect me to them, although I have a good Internet.

Also tried through Epayments, but do not work with Interactive Brokers...

Advise a bank or service where can transfer money by bank Wire transfer and who works with American brokers.
Click to expand...

Have you heard about AEOI (automaric exchange of information)? Ukraine is moving towards that direction, I think they are implementing it from 2018, I think it will be fully functional by 2020, so be careful, if you think they won't report you back to your homeland you might be wrong.

Ukraine officially announces intention to join automatic exchange of information

you're playing with fire in my opinion, just recklessly like that without proper research trying to dump big money in there.
 
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