Is It Smart to Trade in US Stocks if You Are Based in the Philippines?

d08 · Jun 11, 2016

jk90029 said:
Many brokers outside US offers trading for US stocks. However the Phillipines broker may charge two commission (Phillipine and US).

Will you pay to two brokers commission?

You have demonstrated that you don't know the difference between commissions, stamp duty and taxes.

Assuming the broker is in the Philippines and trading US stocks, why would I pay commission to the Philippines Stock Exchange? It has nothing to do with the PSE.
Commissions are per exchange (+regulatory fees) and not by country.

Cody Lim · Jun 13, 2016

d08 said:
You have demonstrated that you don't know the difference between commissions, stamp duty and taxes.

Assuming the broker is in the Philippines and trading US stocks, why would I pay commission to the Philippines Stock Exchange? It has nothing to do with the PSE.
Commissions are per exchange (+regulatory fees) and not by country.

Thanks for clearing that up. jk90029's reply got me confused for a while there.

luisHK · Jun 13, 2016

is there a transaction trading PSE ? if so Jk will be convinced one has to pay the PSE transaction tax when trading US stocks from the Phils.

d08 · Jun 13, 2016

Well, he can just wire some money to PSE, they might just decide to keep it.

sandsurfer · Jul 4, 2016

Hey, thought I'd chime in here. I'm based in Manila and day trade the US stock and futures market. Yes, the hours suck, but I've always been a night owl anyway. I sometimes trade the eurex open in the afternoons, but i generally do better in the U.S. markets so keep finding myself up all hours of the night.

Regarding the local market, I don't know that much about it, but I haven't heard of anyone day trading it as the commissions are quite cost prohibitive with most local brokers from what I've seen. Also, if you're a foreign resident in the Phils, you are not taxed on income made outside the country so why even bother with the local market?

mgarc · Dec 14, 2016

just curious, if you are a resident citizen in the philippines, and you trade stocks or futures in the US, what are your tax obligations in the philippines?

sandsurfer · Dec 14, 2016

mgarc said:
just curious, if you are a resident citizen in the philippines, and you trade stocks or futures in the US, what are your tax obligations in the philippines?

none, if you are a foreigner. You're only obliged to pay taxes on money made IN the Philippines. But you mentioned you're citizen, so I'm really not sure. Best to check with a local tax advisor.

mgarc · Dec 24, 2016

thanks for the input, but yeah, best to ask a local tax advisor concerning citizens.

dealmaker · Dec 24, 2016

I'd be-careful investing in Philippines especially if President Duarte consolidates power...

Henry Blodget ‏@hblodget
Phillippines president says he needs total control to protect country http://www.businessinsider.com/rodrigo-duterte-martial-law-declaration-drug-war-in-the-philippines-2016-12… (Standard dictator playbook)

mgarc · Dec 25, 2016

was just curious about trading US markets from the philippines for filipino citizens residing in the philippines (not really investing in the philippines).