how to invest in international stocks

how to invest in international stocks

How To Trade International Stocks

A good way to diversify an investment portfolio is to look beyond the domestic market and acquire foreign stocks. International investing offers the benefits of diversification such as increased return potential and hedges again domestic macroeconomic woes. Because every sovereign country has its own government policy and its own economy, adding these stocks will not necessarily increase the overall portfolio's risk due to low correlations between various countries' markets with each other and with the domestic market. (For more, see: Getting Into International Investing.)

Buying directly from foreign exchanges might seem like the most straightforward way to invest in foreign stock markets; however, this can be much more difficult than it sounds. Many U.S. Brokerage firms do not have direct access to international trading and if they do, it can be quite expensive and take quite a long time to receive a trade confirmation. You can contact your broker to ask if they offer direct international trading and how much it might cost. Even so, many countries impose capital controls to restrict the amount that a foreigner can invest and may tax transactions very differently than at home. U.S. taxation issues such as duties on foreign transaction costs may come in to play as well. (For more, see: I live in the U.S. How can I trade stocks in China and India?)

Holding foreign assets denominated in their respective currencies also exposes an investor to currency risk because foreign exchange markets fluctuate day to day. If an investor were to gain 5% in a foreign stock but lose 10% in the currency value, they would realize a net loss.

Think Internationally Act Locally

There are easier and more efficient ways to buy international stocks while avoiding some of the issues described above.

ADRs (American Depository Receipts) are shares of foreign stocks that trade on U.S. stock exchanges and can be bought and sold like any other stock through a domestic brokerage firm. ADRs are certificates issued by U.S. banks representing a certain number of shares of a foreign stock. They are denominated in dollars, and any cash flows from the company such as dividend payments will pass through to the ADR holder in dollars. Tax treatment for these investments are typically the same for any other stock investments, however some countries withhold taxes on dividends while the IRS requires a tax due on such dividends. Often times the amount of the foreign tax can be claimed by the investor as a tax deduction.

Some examples of popular ADRs that trade actively in the U.S. include American Movil (AMX), Teva Pharmaceuticals (TEVA), UBS AG (UBS), Petrobras (PBR), Baidu Inc. (BIDU), Ali Baba (BABA), Vodafone (VOD) and Sodastream (SODA).

While ADRs allow for the purchase of individual foreign stocks easily and efficiently on U.S. markets, they still carry currency and foreign inflation risk as well as the overall credit risk of the economy the country operates in.

ETFs and Mutual Funds

To gain access to broader foreign stock market indexes, an investor might consider an ETF or mutual fund with a mandate to invest in foreign stocks in order to replicate a country's benchmark index.

Some examples of ETFs that give an investor exposure to stocks in specific countries include:

Investing in stocks is an excellent way to grow wealth. But how do you actually start? Follow these steps to begin.

There are several ways to approach stock investing. Choose the option below that best represents your situation.

  • “I’m the DIY type and am interested in choosing stocks and stock funds for myself.” Keep reading; the steps below are for you. Or, if you already know the stock-buying game and just need a brokerage, see our round-up of the best online stock brokers.
  • “I know stocks can be a great investment, but I’d like someone to manage the process for me.” You’ll want to check out our top picks for robo-advisors, which offer low-cost investment management. They’ll invest your money for you in a way that makes sense for your goals.

2. Choose between stocks and stock mutual funds

For most people, investing in stocks means choosing among these two investment types:

  • Stock (also called equity) mutual funds or exchange-traded funds. These mutual funds let you purchase small pieces of many different stocks in a single transaction. Index funds and ETFs track an index; for example, a Standard & Poor’s 500 fund replicates that index by buying the stock of the companies in it. When you invest in a fund, you also own small pieces of those companies. You can put several funds together to build a diversified portfolio.
  • Individual stocks. If you’re after a specific company, you can buy a single share or a few shares as a way to dip your toe into the stock-trading waters. Building a diversified portfolio out of many individual stocks is possible, but it takes a significant investment.

The upside of stock mutual funds is that they are inherently diversified, which lessens your risk. But they’re unlikely to rise in meteoric fashion as some individual stocks might. The upside of individual stocks is that a wise pick can pay off handsomely, but the odds that any individual stock will make you rich are exceedingly slim.

For the vast majority of investors — particularly those who are investing their retirement savings — building a portfolio composed primarily of mutual funds is the clear choice.

New investors often have two questions in this step of the process:

  1. How much money do I need to start investing in stocks?The amount of money you need to buy an individual stock depends on how expensive the shares are. (Share prices range from just a few dollars to six figures.) If you want mutual funds and have a small budget, an exchange-traded fund (ETF) may be your best bet. Mutual funds have minimums of $1,000 or more, but ETFs trade like a stock, which means you purchase them for a share price (potentially $10 or less on the low end).
  2. How much money should I invest in stocks? If you’re investing through funds — have we mentioned this is our preference? — you can allocate a fairly large portion of your portfolio toward stock funds, especially if you have a long time horizon. A 30-year-old investing for retirement might have 80% of his or her portfolio in stock funds; the rest would be in bond funds. Individual stocks are another story. We’d recommend keeping these to 10% or less of your investment portfolio.

If you’re participating in a workplace retirement plan such as a 401(k), you may already be invested in stocks, likely through mutual funds.

If you don’t have a 401(k) or you find its investment choices lacking, you can use an online broker to buy stocks, funds and a variety of other investments. With a broker, you can open an individual retirement account, also known as an IRA — here are our top picks for IRA accounts — or you can open a taxable brokerage account if you’re already saving adequately for retirement.

When selecting a brokerage account, you’ll want to evaluate them based on factors like costs (trading commissions, account fees), investment selection (look for a good selection of commission-free ETFs if you favor funds) and investor research and tools.

Below are three strong options from our analysis of the best one stock brokers: Ally Invest (a winner in the low cost category), Merrill Edge (a top pick in the research category) and E-Trade (a winner for investment selection):

Global Investing: How to Invest in the Hottest International Markets

Last Updated Feb 10, 2010 11:55 AM EST

The way the stocks are moving, the name "emerging markets" sounds like an understatement. Investors are reaping huge returns in nations such as China, up 69 percent so far this year; India, up 39 percent; and Brazil, up 31 percent. Intrepid portfolio managers who ventured into the Peruvian market in January doubled their stake in six months. Maybe we should rename them the "breakout markets." It should come as no surprise, given recent returns, that mutual funds buying stocks on these foreign exchanges saw inflows of $4.9 billion during the first five months of 2009.

So should you jump in as well? No. Wade in slowly, perhaps. But don’t jump. While there are plenty of good reasons to invest more of your money abroad than you probably do now, the recent performance of the Peruvian Bolsa de Valores de Lima is not one of them. These markets can move against you quickly: The MSCI Emerging Markets index, for example, was down 54 percent last year.

The standard advice is to keep 10 percent to 25 percent of your total portfolio invested abroad, and this year’s emerging markets surge is a reminder of why that’s a good idea. The U.S. hardly has a monopoly on economic opportunity — measured crudely by the market value of publicly traded stocks, the U.S. accounts for about 45 percent of the world’s corporate wealth. Why expose your portfolio to less than half of the global economy? In addition, so many dollars are being printed by the Federal Reserve to battle the recession that anyone who believes in the law of supply and demand has to wonder whether the greenback can hold its value. In such an environment, trading some of your greenbacks for assets denominated in other currencies isn’t exotic; it’s just financial prudence. True, owning foreign stocks would not have saved you from the great crash of 2008 — world markets joined hands and jumped off the cliff together last year. (In fact, the S&P 500 did a little less horribly than the MSCI EAFE index.) But in the long run, markets abroad have tended to zig when U.S. markets zagged. That has happened often enough that portfolios owning both U.S. and foreign stocks have been more stable than those owning U.S. stocks alone. And they’ve had a slightly better return. Can’t beat that.

Here’s a three-step plan for wading into international waters.

1. Determine the Right Amount of Foreign Exposure

International investing, especially in emerging markets, can be volatile, so the appropriate asset allocation depends largely on your time horizon and ability to handle losses. The younger you are, the more time your investments have to rebound from temporary downturns and, therefore, the more you can afford to commit overseas.

Although keeping as much as 20 percent of your stock portfolio in international equities is a good rule of thumb, brave young investors willing to endure sharp swings in their returns could hold up to 30 percent. “You shouldn’t go much higher, because of the currency risks and political risks that come from investing overseas,” says Alec Young, international equity strategist for Standard & Poor’s. To get a sense of what the appropriate weighting might be for you, check out this asset allocation calculator.

2. Spread Your Wealth around the Globe

The best way to start building an overseas portfolio is to buy a low-cost, broadly diversified international index fund. It’s tough to beat the Vanguard Total International Stock Index Fund (VGTSX). The portfolio provides exposure to both emerging markets and developed regions, and its expense ratio — a meager 0.34 percent — is a fraction of what you’d pay for most international stock funds. A similar offering without the emerging markets exposure is the Vanguard Developed Markets Index Fund (VDMIX). Both funds have a minimum investment of $3,000.

Investors: Why You Need China and Brazil

Princeton economist Burton Malkiel says most Americans don't hold enough foreign investments. Here's his advice on what you should have in your p.

Another investment option is an exchange-traded fund that tracks an international index. Like a mutual fund, an ETF is a basket of stocks. But unlike a fund, you can buy or sell it anytime during the trading day and there’s no minimum investment. You’ll also pay a transaction fee, which you generally do not when buying a fund. Vanguard’s awkwardly named FTSE All-World ex-US ETF (VEU) holds a portfolio similar to that of the Total International Fund, though it includes even more countries. (You’ll get Canadian exposure in the ETF, but not in the fund. Go figure.)

When investing abroad, keep in mind one distinction: International funds tend to invest all their cash outside the U.S., while global funds are, well, global, so they are likely to own shares in American companies. If your goal is geographical diversity and you already own U.S. stocks, stick to the international funds.

Purchasing individual foreign stocks is riskier than buying a fund or an ETF, since success depends on your ability to correctly analyze both particular companies and the countries where they are based.

To hedge or not to hedge: While some international funds hedge their currency exposure through futures contracts, hoping to protect returns when foreign currencies lose value against the dollar, you’re better off sticking with unhedged funds. For one thing, a key reason to invest internationally is to have some money in currencies that will go up when the dollar goes down. For another, hedging typically drives up the cost of your fund. “You9rsquo;re going to pay more, and most managers also tend to not hedge at the right time,” says S&P9rsquo;s Young. These two unhedged funds have beaten the standard international stock index over the past 10 years and have reasonable expense ratios and no sales charge: USAA International (USIFX) and Scout International (UMBWX).

3. Boost Potential Gains by Spicing Up the Mix

Scores of academic studies have shown that most mutual fund managers can’t beat the index over the long term. That said, some funds do have a track record of outperforming. If you want to try to pick those managers, it’s best to do so only after establishing a core portfolio of index funds. That way you’ll capture the market’s returns and then, if your actively managed funds outperform, your portfolio will get an extra boost. If they lag, it won’t hurt your overall performance too much. Two good options:

  • Artisan International Value (ARTKX), run by David Samra and Daniel O’Keefe, dubbed Morningstar’s International-Stock Fund Managers of the Year for 2008. This fund owns a concentrated portfolio of 50 or so stocks trading at deep discounts compared with what Samra and O’Keefe think they are really worth. Since its inception in 2002, the fund has had an average annual return of about 14 percent, compared with the EAFE index’s 8.5 percent.
  • Masters’ Select International (MSILX) run by several top money managers, including Oakmark International’s David Herro and Third Avenue International Value’s Amit Wadhwaney. Though the fund took a pounding in 2008 (down 45.5 percent), it has posted a 5.9 percent average annual return over the past five years. Masters’ Select currently has 32 percent of its funds in Asia and 36 percent in Europe, while the Artisan managers have invested 62 percent of the fund in Europe and just 22 percent in Asia.

As you build your international portfolio, large diversified foreign funds should make up about 80 percent of your holdings — leaving the remaining 20 percent for riskier funds specializing in emerging markets, specific countries, or foreign small-cap stocks.

Resist the temptation to bet the house on the hot performers. With the average diversified emerging markets fund up a staggering 33 percent this year, it’s tempting to load up on such funds, but remember that they can go down just as fast. “These markets move really quickly,” says Jason White, a portfolio specialist at T. Rowe Price. “It9rsquo;s best to only buy something you can live with for a while.” When venturing into these riskier asset classes, start with a small bet, add to it over time, and plan to hold on. Allyn Donaubauer, a Merrill Lynch financial adviser in Fort Smith, Ark., limits his clients’ exposure to emerging markets to 10 percent of their foreign portfolios.

International investing can be daunting if you don’t know where to begin. Forget the problems of choosing good stocks from the other side of the world – just knowing how to buy them can be tricky enough.

If you’re reading this article, you probably already have a stock broking account. But unless your broker is one of a select few specialists, it probably isn’t a great help in buying foreign shares.

Typically, brokers either offer a very limited range of foreign markets or charge prohibitively high fees for foreign dealing.

That’s not a big surprise. In the past, the vast majority of regular investors never bought shares outside their home country, so there was little need for brokers to offer these services.

But the situation is changing. Many more people are buying foreign stocks and it’s becoming ever easier and cheaper to do.

This article will explain the three ways you can join them. In the order in which investors usually first try them, they are:

We’ll run through each of these in detail. But the links above let you jump ahead to the section you want.

Buy international shares by starting at home

The simplest way to buy foreign shares sounds like a bit of a cheat – but it can be done through almost any stock broker. If you live in a country such as the UK and the US, you may find that there are already a substantial number of foreign stocks listed on your local stock market.

These foreign stocks fall into two main groups. The first consists of companies that carry on most of their business abroad but have their main listing on your exchange. This is usually either because their head office is in your country or because they decided to list abroad to be on a bigger, more liquid stock market.

The second consists of shares that are listed on a foreign exchange but have depositary receipts (DRs) listed on your exchange. A depositary receipt is essentially a certificate representing rights over a share listed abroad in a different market and it can be bought and sold just like a normal share. The underlying shares that the depositary receipt represents are held on trust for the bank that issues the depositary receipt.

Depositary receipts listed in the US are called American depositary receipts (ADRs), while those listed in London, Luxembourg or other markets are known as global depositary receipts (GDRs). Those issued in Europe are also sometimes known as European depositary receipts (EDRs). See here for full details of how depositary receipts work.

The advantage of buying foreign shares listed on your local stock exchange is that it’s simple. They trade in your own time zone, usually in your own currency – although GDRs are sometimes priced in US dollars, regardless of where they are listed – and can be bought through practically any local stock broker.

If you already have a share dealing account, you can almost certainly buy foreign shares this way without having to make any changes. There are a few stock brokers that won’t deal in ADRs and GDRs, but it’s increasingly unusual.

The main disadvantage is that only a limited number of international stocks are available through local listings, meaning that you will be unable to invest directly in many companies, sectors and countries.

In addition, while some large and high quality companies are listed like this, many smaller firms are of poor quality. A firm may choose to list abroad in a market where few people know its business and it will be a novelty, rather than listing in its home market where it will be scrutinised more carefully.

Overall, local listings of international stocks can be very useful and some good companies are available. However, having this as your only way to buy foreign shares will not be enough for the serious international investor. So if this is all your stock broker can offer you, it may be time to get a better broker.

Can your stock broker buy foreign shares?

Modern trading technology means that many stock brokers can now buy international shares for around the same commission that you pay to buy local stocks. If your stock broker does not do this and there is no other compelling reason to stick with them, you should strongly consider opening a new account with someone else.

There are two different ways in which brokers will buy international shares on your behalf. In some cases, the firm will have local offices or partners in the country in which you want to buy the foreign shares. When you place an order for a share, it’s bought on the foreign exchange by the local office or partner.

The main advantage of this approach is that it’s usually cheaper. The disadvantage is that the stock broker needs to have local accounts in place in each market. So if you want to buy a foreign stock listed in a market that it doesn’t already offer, that won’t usually be possible.

If you have a large account, some specialist high-end firms may be flexible and look at opening a new account for you in that market. But the average online discount broker will not do this.

The alternative way to buy international shares is that the stock broker doesn’t have a foreign office or partner, but instead tries to buy the foreign shares from market makers in your home country. A market maker is an intermediary that trades with stock brokers, buying and selling stocks, aiming to make a profit from the spread between the bid price and the offer price.

The advantage of this is that the firm doesn’t have to be tied to specific markets. If you want a stock listed in Taiwan but clients don’t usually ask for this, it can call round the market makers and try to find one that has that stock.

The disadvantage is that this approach will have higher fees and you will probably get a less competitive price for the stock than buying directly. In addition, it may not be able to get all the stocks from a given market – it depends what the market maker will offer.

So if you can find a broker that buys foreign shares directly for the countries you want, it’s usually best to use that firm. But a broker that uses market makers can sometimes be more flexible. You can find guides to brokers that can buy international shares in the UK, the US, Hong Kong and Singapore elsewhere on this site – follow those links for a detailed look at which firms in those country can offer deal in international markets.

Using any stock broker that buys foreign shares will let you invest in many more companies than if you stick to those listed in your home country. But if you want to invest in a wide range of countries, you may still come across a problem. At the moment, even the best stock brokers only offer a limited range of international markets at reasonable cost.

For example, even a good online stock broker in the UK or the US will probably buy shares in several European markets, the US, Canada and two or three in Asia. If you want to buy shares in other markets, you will probably have to pay unattractively high fees. And for many markets, you may not be able to find any broker who will deal in them.

Unfortunately, there is no true global online stock broker. So most international investors stop at this point and settle for buying the foreign shares they can through a good local firm.

But there is another option. It requires a bit more work, but is still less hassle than most investors tend to think – and can give you access to a whole extra world of opportunities.

Using an international stock broker to buy foreign shares

Opening an account with a stock broker abroad may sound like the kind of thing only the rich would do in Luxembourg or Switzerland. But in fact it’s more common and cheaper than you might think. While not all foreign countries make it easy for foreigners to open accounts, stock brokers in many major financial centres welcome foreign clients.

There is one major exception to this – many firms are not willing to deal with American clients. So US citizens and residents may have to look a bit harder to find a firm that will take them. And when you do, you will usually be prohibited from investing in US stocks through that account, if the firm normally offers them to clients.

But it’s no problem for a European to open a stock broking account in Singapore or Hong Kong, for example. If you’re worried about possible language barriers, a surprising number of firms everywhere will provide services in English, because English is the global language for finance and business.

Ideally, you are looking for a multimarket account – one that lets you buy international shares in a number of different countries from a single account. You don’t really want to open an account in every country where you’d like to invest – it’s much simpler to have several in one place. Even if you don’t think you’ll want all the countries a good stock broker offers, you may find it useful later on.

Opening the account may take a bit of work – you may need to send document certified by a lawyer or notary if you want to do it by post. Waiting until you are visiting the city and arranging to visit their offices in person can often make this simpler.

Occasionally, you may also need to open an account with the local securities registry – the organisation that keeps track of who owns which shares. This is the case with any brokerage account opened in Singapore – you also need an account with the Central Depositary (CDP). And to buy Malaysian shares, you will often need to open one even if your account is with a broker outside Malaysia. However, the broker should take care of this for you and include all the necessary paperwork in its application pack.

In addition, funding your account probably won’t be quite so simple as using a stock broker in your home country. You’re probably used to being able to deposit funds in your account using a debit card or something equally quick and simple. To send money from your bank to a stock broker abroad, you will need to make an international money transfer.

If your bank is reasonably competent, you should be able to do this through them without too much trouble. But it may be cheaper to use a foreign currency transfer specialist.

You will not normally need to open a local bank account – you can usually transfer the funds directly to your broking account. There are a few exceptions, but they are mostly smaller markets with restrictions on foreign exchange and investment. Indeed, in many countries it’s far easier for a non-resident to open a broking account than it is to open a bank account.

However, in countries where opening an offshore bank account is straightforward – such as Singapore – having a local bank account may give you extra flexibility. If you do this, ask your stock broker for suggestions on which bank to use, since they may have relationship with some banks that enables faster or cheaper transfers.

Once you’ve done this, you will be able to buy foreign shares in a wide range of regional markets at lower cost than you can through a stock broker in your home country. A UK or US investor opening an account with the best stock brokers in Singapore or Hong Kong will be able to invest in almost all Asian markets online – something that simply isn’t possible through UK or US stock brokers.

How safe is your money with a foreign stock broker?

The main thing you should be aware of before opening a foreign brokerage account this is that your account abroad will be governed by investor protection rules in that country and not by your home country rules. So a UK investor will be familiar with the Financial Services Authority’s rules – but an account he or she opens in Singapore will be governed by Singaporean rules.

This means different levels of protection from the local investor compensation scheme in the event that a broker goes bust, there’s enormous fraud and your account with them turns out to be empty. Please see here for details of some of the investor compensation schemes in major financial centres.

But the compensation scheme isn’t something you want to fall back on anyway. Prevention is better than cure. You should make sure you understand exactly who you’re dealing with when you open an international stock broking account. It’s prudent to deal with major reputable firms in major financial centres, rather than obscure smaller outfits.

Choosing the best international stock broker

As we’ve seen, there is no one solution that allows you to buy all foreign shares – or even invest in most of the major stock markets around the world. The more markets you want to access, the more you will need to put together different stock brokers to give you better coverage.

Broadly, you should have no trouble investing in North America, Western Europe and almost all of Asia if you’re prepared to do a bit of work. A combination of three good multimarket accounts would let you cover 30-35 countries spanning the vast majority of these regions. See the article on the best international online stock brokers to find out which brokers would be most useful for this.

(Incidentally, when comparing stock brokers, be aware that many advertise the number of stock exchanges they cover. Since many countries have several exchanges, this is substantially higher than the number of countries. No stock broker currently offers much more than 20 countries at reasonable cost.)

Outside of these three regions, the multimarket stock broker model hasn’t taken hold yet. There seem to be no multimarket accounts covering Eastern Europe, South America or Africa. If you want to buy international shares from most of these countries, you will generally need a local account.

It may be slightly disappointing to discover that you can’t yet buy Chilean retailers, Kazakhstan banks and Ghanaian telecoms from the same online account. And clearly, investing globally takes a bit of work if you want to be able to invest in 40 different countries.

But getting started in just a few markets is much easier and that’s the best way to begin. So check the international stock brokers guide to find which stock brokers deal in which markets or read the top five online stock brokers to narrow the list down to a handful that are most useful for buying international shares.

How to invest in stock markets overseas from the UAE

DFM investor wants to widen his interests to the London and New York stock exchanges.

Updated: August 8, 2014 04:00 AM

I am from Oman and live in Dubai. I am an investor at the Dubai Financial Market and would like to expand my portfolio to the London Stock Exchange and the New York Stock exchange. But how can I, as a UAE-based Arab, go about doing this? MM, Dubai

• The expert advice

Adel Merheb, managing partner at Tradeyourmarket.com

With most financial brokers offering advanced online trading platforms to their clients nowadays, it is now fairly easy to trade global financial markets using a single platform from almost anywhere in the world – that is, anywhere with internet access.

Not only has it become easy to trade online, but the process of opening brokerage accounts has never been easier as it pretty much happens exclusively online these days.

The competition among online global brokerage firms has become very fierce in recent years, and traders have been the primary beneficiaries by having easier access to global exchanges at reduced trading costs.

As a trader based in the Middle East, the options to access global financial markets are many.

One way would be to open an account with any of the locally-based brokers that can provide access to international markets online, and there are many.

The other would be to simply open an account with any of the top online brokerage companies that are home to the major financial markets such as the United States or London.

Local brokers are able to provide a one-stop shop that can expand traders’ access beyond the GCC markets such as Dubai and Saudi Arabia to reach major global exchanges such as the NYSE and LSE.

Provided that these local brokers can offer competitive rates when it comes to execution costs, it would make sense to deal with a local broker with international access rather than dealing with a foreign broker even though dealing with a foreign broker may have additional advantages such as access to better online platforms and better customer service.

Still, almost any broker with a global coverage should be able to provide access to the major international equity markets.

Most brokers now allow clients to open accounts online, so there should be little hassle in terms of setting up an account whether locally or abroad.

However, one important thing to consider is the fact that with a foreign broker, funds will have to be held outside of your country of residence. To some people this may carry an added element of risk, as most prefer to deal with local institutions.

To sum up, here are the key differences between what a local broker with access to international markets and a foreign broker can provide:

Local broker with international access:

• Dealing with a local entity rather than an entity based abroad

• Access to GCC and key international markets such as NYSE

• The transfer and withdrawal of funds take place through a local bank

• Mostly access to plain-vanilla products (equities, indexes, key currencies and commodities).

• Probably better execution and a more user-friendly online trading platform

• Probably access to a broader base of financial instruments such as derivatives and a wide range of products

• Hardly any access to GCC markets

• Probably lower execution costs and better customer service.

Petra Jones, Dubai

I have invested in the London Stock Exchange for a number of years. However, I started doing so before I left the United Kingdom to live in the UAE. This means I use the same broker from the UK that I was using before and I have access to a UK bank account that I regularly transfer funds to from here. That’s not to say it’s not possible for you. My advice would be to use a local broker with access to international markets so that you don’t have to transfer funds overseas.

The next money clinic:

I need some advice to help me to consolidate my credit cards and loans into one monthly installment. I have two loans and three credit card payments every month that are very difficult for me to pay. Also, the interest rates are very high. I have tried many banks but they said I am not eligible for this kind of settlement. My monthly salary is Dh5,000 and my total outstanding debt is Dh60,000. MU, UAE

E very three weeks The National features a reader’s personal finance problem. If you have an issue or would like to suggest a solution for another’s reader’s concern, write to [email protected]

The advice provided in our columns does not constitute legal advice and is provided for information only.

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