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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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DIRECTRADE |
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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 |
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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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