Investment Apps to Use Outside the U.S.

Investing in securities like stocks, bonds, exchange-traded funds (ETFs), and mutual funds is one of the best ways to build wealth. And the U.S. stock exchange is one of the best ways to access assets like this. 

But if you live outside of the United States, you might be wondering how you can add U.S.-listed securities to your portfolio.

Thankfully, there are several different investment tools you can use to access these markets even if you’re outside the U.S. Note that they vary in fees, user experience, analytics tools, and what you will need to get started.

. . .

eToro

Available: Global

Headquartered in Israel, eToro is a popular zero-commission investment platform available globally.

While it’s not accessible everywhere, it is open to investors in Australia, Ireland, New Zealand, Singapore, South Africa, the United Arab Emirates, the United Kingdom, and many other countries.

It offers stocks, ETFs, and commodities, but is most well-known as a crypto trading platform.

One of the key features of eToro is that it’s a social trading platform. Similar to social media, there’s a feed where you can share trades and copy each other’s strategies. 

eToro also offers virtual simulated trading. You can open an account with $100,000 in virtual funds to practice trading. This, combined with eToro’s social feed and robust educational library, can help you build and test strategies wherever you are in your investing journey.

eToro doesn’t charge trading fees for stocks and ETFs. Options contracts for non-U.S. users are charged a fee per contract. There may be additional fees depending on where you’re located.

IG

Available: Australia, U.A.E., U.K.

IG is an investment platform serving clients around the world — including Antarctica, according to their website! 

Founded in 1974, IG is considered the top global contracts for differences (CFD) provider. (CFD trading is when you trade based on the price changes of an asset rather than owning the asset itself.)

Aside from trading CFDs, you’ll have access to assets in 17,000 markets, including: 

• Stock shares
• ETFs
• Bonds
• Index funds
• Cryptocurrencies
• Forex
• Options
• Commodities 
• Industry sectors
• Interest rates

While there are some account protections for investors in the E.U. and the U.K. — like negative balance protection — the same protections aren’t extended to investors based in the United States. As a result, American investors who go in the red could wind up owing IG.

IG offers low trade spreads starting at 0.1 points for commodities. Its CFD commissions can be high depending on what you’re investing in. A full breakdown of IG’s pricing is provided on their website.

The platform has an easy user interface with advanced charting features. You can create a demo account and access learning libraries to improve your analysis skills.

Interactive Brokers

Available: Global

Interactive Brokers is one of the largest brokerage firms in the world. You can access 150+ markets, including the United States. It’s a top platform for international investors and Americans living abroad.

You can invest in a number of assets including stocks, bonds, ETFs, foreign exchange, options, commodities, and mutual funds. 

Advanced users have access to more than 100 order types. New investors with limited capital can get started with fractional shares.

Interactive Brokers charges low commissions and fees. Their website offers a comprehensive price breakdown for all assets for U.S. and non-U.S.-based investors. 

You also get access to robust trading analytics and market insights, and can boost your trading knowledge by taking free webinars hosted by Interactive Brokers.

Praemium International 

Available: Australia, U.A.E., U.K.

Praemium International is a financial platform based in Australia and founded in 2001. Outside of Australia, Praemium has offices in Dubai, Armenia, China, Hong Kong, and the United Kingdom.

There is a management fee for accounts in GBP, USD, and euros. Accounts traded in USD are charged a trading fee for managed funds equities, ETFs, and bonds. Minimum account balances vary by currency. 

Praemium provides user-friendly analysis tools to guide your investment decisions. This includes ESG reporting to help you make ethical investments aligned with your values.

Qtrade

Available: Canada

Qtrade is a Canadian investment platform. It was founded in 2001 and is owned by Aviso Wealth. The platform is well-regulated. 

The Qtrade Direct Investing account is available for U.S. and Canadian markets. Access to real-time data comes with a monthly fee that varies depending on which market you’re investing in.

Trades for U.S. stocks are higher than other investment platforms in Canada. There is a quarterly fee, but this can be waived by meeting requirements such as an account balance minimum and making a certain number of trades per quarter or year.

Qtrade offers 100+ commission-free ETFs. There are no minimum requirements to buy or sell them and you won’t be charged trading fees.

Accounts can be opened online and there is no minimum deposit.

Questrade

Available: Canada

Founded in 1999, Questrade is a low-fee investment platform specifically for Canadians.

With it, you can invest in a variety of assets including stocks, bonds, ETFs, mutual funds, foreign exchange, and contracts for differences (CFDs).  

To open a self-directed investing account you’ll need to fund it with a minimum of $250. Other accounts may come with higher minimums. However, you won’t pay any annual account maintenance fees with Questrade. 

Unlike comparable Canadian investment platforms, Questrade does not pay interest on cash balances in accounts.

You’ll have access to Questrade’s newsfeed and analytics tools, which are provided by third parties. There is a simple educational library that you can reference when making trades. 

These offerings aren’t as robust as other platforms but they provide the minimum to help you make decisions about your portfolio.

Saxo Markets

Available: Global

Founded in 1992, Saxo Markets is an established trading platform based in Australia.

It is available in many countries worldwide, including Australia, Canada, Ireland, Japan, New Zealand, Singapore, South Africa, the United Arab Emirates, the United Kingdom, and numerous others.

It gives you the option to trade in stocks, bonds, cryptocurrencies, contracts for differences (CFDs), and foreign exchange.

Within Saxo Markets, there are three trading platforms that you can use based on your experience: SaxoInvestor, SaxoTraderGo, and SaxoTraderPro. 

SaxoInvestor is great for beginners and offers stocks, ETFs, bonds, and mutual funds. 

SaxoTraderGo and SaxoTraderPro are better for advanced traders and offer more analysis tools to help you make trades.

Unlike other investment tools, you won’t have access to live prices with Saxo. 

The platform includes educational material to help you learn more about trading. You also have access to research conducted by fund managers.

Superhero

Available: Australia, New Zealand

Superhero is an online trading app for investors in Australia and New Zealand.

It provides low-cost access to markets in both Australia and the U.S. It doesn’t cost anything to use and there is a flat fee per trade.

There is a minimum trade requirement for U.S.-listed securities and shares listed on the Australian Stock Exchange.

The platform doesn’t come with all the bells and whistles of other investment platforms but that isn’t necessarily a bad thing, especially if you’re new to investing. The fee structure is simple and trades are affordable.

Plus, if you regularly fly with Qantas, you can link your account to your frequent flyer account to earn points when you make trades on the Australian Stock Exchange.

Swissquote

Available: Europe, Australia, New Zealand, U.A.E.

Swissquote is a trading service that offers access to the Swiss Exchange. It’s regulated and publicly traded. You get the benefit of working with a trusted financial institution that doubles as a Swiss bank.

While Swissquote is available in many countries, it’s not as exhaustive a list as some other trading apps. For example, Swissquote is available in Australia, New Zealand, the U.A.E., and throughout Europe, but isn’t available in Canada or much of Asia.

If you open an eTrading account with Swissquote, you’ll have access to cryptocurrencies, as well as exchange-traded securities. Because Swissquote is highly regulated, it provides stable returns.

Outside of Switzerland, Swissquote operates subsidiaries in the U.K. and Luxembourg. Each has its own accounts that come with different fees and maintenance requirements.

The platform is great if you feel confident managing your own portfolio. It comes with advanced charting tools and daily market updates to help you make trading decisions. 

If you want a more hands-off approach, Swissquote also offers robo-advising.

Wealthsimple

Available: Canada

Wealthsimple is an investment platform in Canada.

Started in 2014, the platform offers commission-free trading on more than 9,000 stocks and ETFs. You can opt for managed investing or self-directed investing depending on the level of guidance and support you need.

There are no minimums to get started and you won’t pay any fees for a Core plan. Wealthsimple works in Canadian dollars and supports Registered Retirement Savings Plans (RRSPs), Tax-Free Savings Accounts (TFSAs), and a First Home Savings Account for first-time homebuyers. 

To trade U.S. securities without paying any conversion fees, you’ll need to upgrade to a U.S. dollar trading account.

Wealthsimple offers two paid tiered plans for more advanced investors: Premium and Generation. There are management fees for these accounts based on the assets under management. Premium comes with some special perks like 10 airport lounge passes per year.

You can fund your Wealthsimple account by transferring money directly from your bank. Wealthsimple will cover transfer fees on any transfers greater than $5,000.

Aside from being a commission-free platform, Wealthsimple also gives you access to several alternative investments. This includes fractional shares, crypto, private equity, and private credit.

Webull

Available: Global

While Webull is Chinese-owned, it is headquartered in the United States. It’s available to investors in several countries, including Australia, Canada, Japan, Singapore, South Africa, and the United Kingdom.

Depending on the country, investors who open an account with Webull have access to both local and U.S. markets.

Webull offers low-cost trading on stocks, ETFs, and options. It is also a popular platform for purchasing cryptocurrencies. 

Webull is popular with active traders because it offers advanced charting tools and expanded features such as robo-advising, paper trading, and fractional shares. 

It’s ideal for new and experienced investors who want to use technical analysis tools to make active trades.

Read our full review of Webull.

FAQs

Can foreigners invest in U.S. stocks?

Yes, foreigners can invest in U.S. stocks and many do. You’ll need to open a brokerage account that supports U.S. markets and provide the appropriate documentation for tax purposes. 

Can you invest without a Social Security number?

Yes, you can invest without a Social Security number. You will want to obtain an Individual Taxpayer Identification Number (ITIN) instead. 

You can obtain an ITIN by filling out a Form W-7 when you complete your tax return, by contacting an IRS-authorized Certifying Acceptance Agent, or by making an appointment with the IRS Taxpaying Assistance Center.

The Bottom Line

There are a ton of investment tools and apps out there that will let you invest in the U.S. and other markets, even if you don’t live in that country. 

If you’re interested in investing in foreign markets from the U.S. or in U.S. markets from abroad, one of the popular apps listed above may serve your needs.

For more investing information, check out these episodes of the Erika Taught Me podcast:

• Investing in the Stock Market Explained: A Guide for Beginners
• Investing Advice from the Most Powerful Woman on Wall Street
• Money & Investing Pitfalls to Avoid

. . .