Low-Cost Online Brokerage Services

“I just subscribed to The Simon Letter. I have bought into Lief’s message of international diversification for a while now but have run into what appears to be a big problem. Maybe you have contacts that can help?

“I am a self-directed investor managing my retirement funds via stock trades on several global stock exchanges. I would like to move most of those funds out of the U.S., but I can’t find anyone who knows of online brokerage services that are still available to U.S. citizens. International Man has written a list of international brokers that includes just one service, in Singapore, that accepts U.S. citizens as clients.

“Is this all there is? I hear that there are several security brokers in Panama City who give access to Europe and North American exchanges, but I am thinking about establishing residency in Panama and would prefer a brokerage service in a different country. Besides, I have not yet been able to establish whether or not they will accept U.S. clients.

“Is it already too late to accomplish this objective?

“Looking forward to receiving your publication, and I sincerely hope you can help me with this key issue.”

–Tom B., United States

As you’re discovering, low-cost online brokerages that will accept new American clients aren’t really easy to find. I address this agenda in the context of Colombia in the feature piece for the first issue of The Simon Letter, where I make a recommendation for a good option in this country (who will be participating at this week’s conference here in Medellin). You’ll find the contact details in your first issue, due in your in-box later this week.

I’ll continue to research this and report on other options as I find them.