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Re: rubberworm post# 311

Monday, 05/28/2018 11:24:53 AM

Monday, May 28, 2018 11:24:53 AM

Post# of 1724
Looking more closely at the Schwab web page, it does seem that the $55 is not a mistake. That is the cost for trading "Foreign over the counter" shares, which is defined as follows: "Foreign ordinary or foreign over-the-counter securities (FOTCs) are shares of foreign companies that are traded on the U.S. over-the-counter market by a U.S. market maker." You can trade directly on foreign exchanges by getting a Schwab Global Account. At first this looks like a solution, with Australian trades costing A$32 and Canadian trades costing C$14. But then there is a 1% currency conversion fee on top of that.