Buying Index Funds in Ecuador

If you are English with a residential address in England, you open a brokerage account before you become a resident of Ecuador; at least I would.

Dear Paul Smith,

Welcome to the Ecuador forums of Expat.com ...

I have been a resident of Quito for ten years

and opened an account with the large

international broker Interactive Brokers

about six years ago.

Whereas various banks and brokers discourage

or refuse clients in many countries including

Ecuador, IB welcomes us.

In my IB portfolio, I own stocks and ETF's

purchased via IB's online platforms.

For security purposes, I log on using numbers

printed on a plastic card that contains

three-digit codes enabling access to

my account.  IB sent that plastic card to

me soon after I became a client.

cccmedia

@cccmedia

IB rejected my application a few months ago when I lied about being a U S. resident, using my U.S. Global Mail box  address as my residence , and they won't reconsider me under any circumstances.

I actually had opened a  account with Tradestation account using my U.S box, but I wanted to open an account with IB because I wanted try out their Windows trading platform. Since Tradestation uses IB for the backend when non-U.S. residents apply, I decided to apply again as a foreign resident and lost my trade station account. That prompted me go open an account with Trade-Zero in the Bahamas as a non-U.S. resident  which I now have, but don't use.

I am also a long-time client of Vanguard with my U.S. Global mail box as my primary address, but they are oriented towards long-term investors and don't have a Windows based trading platform that employs shortcuts and the like.

I am 99.9% certain to open a Vanguard account as an individual, you need to be us citizen with a U S. Mailing address.  Schwab does offer international clients accounts, however if an expat is looking to schlep a no-fee ATM card with an int'l Schwab account, they can forget it.

P.S. My gut told me that the OP was a troll.

Message deleted

Dear Paul Smith,
Welcome to the Ecuador forums of Expat.com ...

I have been a resident of Quito for ten years
and opened an account with the large
international broker Interactive Brokers
about six years ago.

Whereas various banks and brokers discourage
or refuse clients in many countries including
Ecuador, IB welcomes us.

In my IB portfolio, I own stocks and ETF's
purchased via IB's online platforms.

For security purposes, I log on using numbers
printed on a plastic card that contains
three-digit codes enabling access to
my account. IB sent that plastic card to
me soon after I became a client.

cccmedia
-@cccmedia

@cccmedia Hola cccmedia, I'm from Taiwan and willing to relocate to Ecuador within few months. I get information from youtube channel that deposit interest rate of US dollar can up to more than 8% in Ecuador bank.  Is this true for simply deposit money to bank or need to purchase some investment products which may get loss finally?   

Thanks a lot

Welcome, Schlee, to the Ecuador forums

of Expat.com ...

Since the rates being quoted at YouTube

are probably based on investing in

Certificates of Deposit or CD's, I have

responded to your post above at

the Bank CD Rates thread, which is

clickable at the welcome page of the

Expat.com Ecuador forum.

As you know, we also have a thread

about high rates on bank and co-op

CD's and the risks.  I have responded

to your separate post on such risks

at that high-rates-and-risks thread.

cccmedia in Quito

@cccmedia Noted. Thanks a lot