| IMPORTANT
WARNING:
The contents of this article and the attached
report have been compiled in good faith by Investorsoffshore.com
to provide assistance to investors, but do not
constitute investment advice or recommendations.
Investors should not rely upon the information
given in order to choose types or routes of investment
but should make their own independent enquiries
before making choices. Investorsoffshore.com has
taken reasonable care in researching and presenting
the information herein but makes no representations
as to its accuracy and accepts no liability for
actions taken or not taken as a result.
THALES SECURITIES |
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Online or by phone Stocktrading USA, Canada, Europe,
Asia
Online
or by phone Options, Cfds, Forex and Futures trading
Private
Asset Management
Offshore
services.
- During
what hours are trades executed?
24
hours per day online trading, Broker assistant
trading is from 7am EST to 6 pm EST
- What
is the basis for charging?
Discount
commission on online trading of stocks, futures,
options; spread on forex and cfd's
1.5
% Management fee for Private Asset Management.
- What
is the timing of, and mechanism for, settlement?
Timing
depends if you are trading futures, forex the
settlement is at the end of the day, if you are
trading stocks, mutual funds or bonds the settlement
is in 2 days after the trade has been done. Settlement:
the customer needs to have the funds in the account
before he places the trade.
- What
is the minimum initial deposit?
The
minimum initial account balance is US$ 5,000.
- How
do I know when the trade has been executed,
and what do I do if something goes wrong?
(Online)
confirmation, trade desk.
- What
investor protection measures are in place?
CNV-licensed
(Panama SEC), SIPC; clearing through renowned
institutions in the US and Europe.
- Which
currencies are acceptable?
Bank
Transfers in US$, EUR, GBP, CHF, JPY, SEK, CAD
Online accounts in AUD, CAD, CHF, CZK, DKK, EUR,
GBP, HKD, JPY, NOK, NZD, SEK, SGD, USD, ZAR.
- Who
owns or operates the entity?
Jochem
Buse, Founder, President and CEO
Arturo
de Bernard,.Brokers Manager
Valentin
Solis, Principal Executive Officer
Arelys
Gonzales, Compliance Officer
Luz
Jerome, Financial Controller and Internal Auditor
Cristela
Chacon, Backoffice Manager
Torre
Generali 22nd floor, PanamaCity, Republic of Panama.
++5073006663 www.thalessecurities.com
For a more detailed treatment of the tax and legal
regime in Panama, please visit the Lowtax Jurisdictions
Guide (Panama).
- What
are the residential restrictions?
Introducing
brokers, Pension funds, Fund managers, IBCs, Trusts
and Foundations and Private clients are welcome.
- What
facilities are offered to clients?
Real
time quotes and streaming charts; live news and
analysis are included in online trading, cross
margining and multicurrency accounts; live support,
private asset management and offshore services.
- Which
exchanges are used to make trades, and which
ECN are extended hours trades routed through?
1-
On the Thales Trader Platform, the system automatically
figures out the route to send the order too in
stocks, using different ECN's, but this is sometimes
done by the dealers (no direct market access in
some cases).
2-
On the Stock and Options platform the trades are
done with a direct market platform so the system
figures out the best route automatically
3-
Also we can provide Level 2 when you can choose
the different ECN's or market makers to trade
the stock.
4-
Extended hours is only provided by on the Stock
and Options platform
5-
For futures, trades are going to the electronic
exchanges like Globex and directly to the floor
pit can be done for larger trades and by phone.
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Based
in Bermuda, Directrade offer a fairly comprehensive
range of investment opportunities and services
for self directed investors, with portfolio management
an option for premium account holders. Their website
is very user-friendly, and more accessible than
many. For a brief summary of the living, banking,
and investment situation in Bermuda, please visit
the InvestorsOffshore 'Choosing Your Jurisdiction'
section. ( Bermuda
)
- What types of investment are offered?
Through
Directrade, investors can access US stocks, foreign
stocks via ADRs, equity, index, and currency options,
and offshore and other mutual funds.
- During
what hours are trades executed?
Trades
are executed during standard trading hours. Until
recently, Directrade did offer extended hours
trading, but found that the demand was not great
enough to justify this service. However, it is
not something that they have ruled out for the
future.
- What
is the basis for charging?
For
stock trades up to 1,000 shares, the minimum charge
is $29.95. Options are charged at $30 per order,
and there is a charge of $4 per additional contract.
- What
is the timing of, and mechanism for, settlement?
Trades
are usually settled 3 business days after the
trade date.
- What
is the minimum initial deposit?
In
order to open an account with Directrade, you
will need a minimum deposit of $2,000.
- How
do I know when the trade has been executed,
and what do I do if something goes wrong?
Execution
status is shown immediately under 'Order status'.
If
you experience any problems, or have a query regarding
a particular trade, their phone number and address
can be found in the 'Customer Service' section,
or you can use an online form to get in touch
with a representative.
- What
investor protection measures are in place?
Investors
are protected by the Securities Investor Protection
Corporation measures, but also receive additional
protection in the form of an Excess Investor Compensation
Scheme bond, of up to £5 million per portfolio.
- Which
currencies are acceptable?
Directrade
will accept deposits in US dollars, Canadian Dollars,
and Bermudian Dollars. Currently, however, the
deposit is then converted into US dollars.
- Who
owns or operates the entity?
Directrade
is a service of Bermuda Online Financial Services
Ltd, an affiliate of the Emerald Financial Group.
Securities clearance is undertaken by Pershing
Ltd, a division of the Donaldson, Lufkin and Jenrette
Securities Corporation.
Both
Directrade and its parent company operate from
Bermuda (GMT minus 4 hours). Bermuda is a mid-Atlantic
archipelago approximately 1,000 km from the USA.
It is a self-governing crown dependency, and is
politically stable, with English being the official
language. The currency is Bermudian dollars, which
are at parity with US dollars, and there is no
income tax, capital gains tax, VAT, sales and
use tax or wealth tax. For a more detailed treatment
of the tax and legal regimes in Bermuda, please
visit the Lowtax Jurisdictions Guide. ( Bermuda
)
- What
are the residential restrictions?
Directrade's
online brokerage service is not available to US
citizens or residents.
- What
facilities are offered to clients?
In addition to direct online access to international
stock markets, customers receive free research
and analysis, including a variety of portfolio
management tools. Real time quotes are available,
and you will receive 100 free quotes when you
open an account, and an additional 100 every time
you trade. If you need more than that, however,
they will have to be purchased.
- Which
exchanges are used to make trades, and which
ECN are extended hours trades routed through?
During
standard trading hours, Directrade offers access
to all the major US markets, including NASDAQ,
NYSE, OTC, and AMEX.
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OGF
Online are based in the British Virgin Islands,
and allow international investors online access
to a range of US and offshore investment opportunities.
Their website is logically put together, concise,
and easy to use, if somewhat uninspiring.
- What types of investment are offered?
OGF
Online allow you to trade US stocks, US mutual
funds, Offshore mutual funds, and options on US
stocks (although this requires separate approval)
- During
what hours are trades executed?
Trades
are executed during normal market hours (Eastern
Standard Time= GMT minus 5 hours)
- What
is the basis for charging?
Equities
are charged at a flat fee of $25, as are no-load
offshore mutual funds.
- What
is the timing of, and mechanism for, settlement?
Settlement
will automatically take place three business days
after the trade has been executed. However, trades
are only permitted if there are sufficient assets
in the account to cover the transaction.
- What
is the minimum initial deposit?
In
order to trade online, you must first open a trading
account with a minimum initial balance of US$50,000.
- How
do I know when a trade has been executed, and
what do I do when something goes wrong?
You
can elect to receive trade execution notification
via e-mail, telephone or fax.
If
you have any problems or queries about your account
or specific trades, there are telephone, fax and
e-mail contact details available in the 'Contact
us' section, as well as a mailing address.
- What
investor protection measures are in place?
OGF
online provide investor protection insurance valued
at $5.5 million per account, and through their
trustee, also provide correspondent investor protection
insurance covering fund transfers of up to $5
million.
- Which
currencies are acceptable?
OGF
online accounts are denominated in US dollars
only
- Who
owns or operates the entity?
OGF
online is a subsidiary of the Offshore Global
Financial Group.
OGF
online are based in the British Virgin Islands
(GMT minus 4 hours), which are an archipelago
of more than 60 islands and cays (of which only
16 are inhabited), forming the northern extremity
of the Leeward Islands in the Eastern Caribbean.
The islands are a politically stable English-speaking
dependent territory of the UK, and the official
currency is the US dollar. The only significant
tax in the British Virgin Islands is income tax,
which applies to resident individuals, and relatively
few local companies. For a more detailed treatment
of the tax and legal regime in BVI, please visit
the Lowtax Jurisdictions Guide. ( British
Virgin Islands )
- What
are the residential restrictions?
Online
trading facilities through OGF online are not
available to US citizens or residents.
- What
facilities are offered to clients?
In
addition to online trading facilities, OGF online
also offer secured credit cards, research tools,
and real time quotes on all US exchanges.
- Which
exchanges are used to make trades, and which
ECN are extended hours trades routed through?
During
standard trading hours OGF online clients can
access all US markets. Extended hours trading
is not available.
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DISCLAIMER
It
must be remembered that the above observations
do not reflect experience of actually making trades,
do not imply anything regarding the financial
solvency or otherwise of the brokerages, and do
not reflect the level of professional expertise
or competence of the brokerages. Charges, settlement
times, etc may be subject to change.
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