Taiwanese Investors Must Read! 7 Major Overseas US Stock Brokerage Selection Guide and Fee Comparison

For Taiwanese investors, there are two ways to enter the US stock market: through domestic brokerage firms’ omnibus services or by opening accounts directly with overseas US stock brokers. Each approach has its advantages and disadvantages, with core differences in transaction fees, trading flexibility, and capital liquidity.

Omnibus vs Overseas Brokers: Which is More Suitable for You?

Omnibus Model is the preferred choice for many conservative investors. You authorize a domestic broker (such as Jih Sun, E.SUN, Yuanta) to place orders on your behalf in overseas markets. The process is simple, with dedicated service personnel, but the fees are higher (about 0.5%), and settlement cycles are longer (buy T+1, sell T+3), making it unsuitable for frequent trading. This method is most suitable for large single investments with very low trading frequency.

Opening an account with an overseas broker represents trading flexibility. You open an account directly on the US broker platform, with quick settlement (T+1), low transaction fees (most are zero commission), and support for advanced trading tools such as margin trading, short selling, and derivatives. The downside is that you need to handle currency exchange, tax reporting, and other administrative tasks yourself. For investors seeking short-term operations, two-way trading, or derivatives trading, overseas brokers undoubtedly offer more advantages.

Top 7 Overseas Brokers Most Used by Taiwanese Investors

1. Charles Schwab—The most comprehensive and strongest physical bank

Founded in 1971, Schwab is the largest physical stock broker in the US, with assets exceeding $3.8 trillion, stock code SCHW. After acquiring TD Ameritrade, its market value further increased to $575 billion.

Schwab’s core strengths are professionalism and security, regulated by FINRA and SIPC, offering a full product line including US stocks, ETFs, bonds, etc., with zero commissions on stock and ETF trades. Exclusive VISA card allows cardholders to withdraw local currency worldwide. The main drawback is the high account minimum ($25,000), suitable for large capital investors.

Minimum deposit: $25,000 | Transaction fee: $0 | Withdrawal fee: $25

2. Interactive Brokers—Best for professional traders

Founded in 1978, IBKR is a leading international broker, listed on NASDAQ. With an average daily trading volume of nearly 2 million trades and client assets of $296 billion, it provides trading services across 135 international markets.

IBKR’s features include powerful trading tools, offering 60 order types and industry-leading commissions (as low as $0.005 per share, minimum $1). Suitable for high-frequency traders and institutional investors. Also offers IBKR Lite, providing free stock and ETF trading for retail investors. The platform is feature-rich but has a steep learning curve, requiring some trading experience.

Minimum deposit: $0 | Transaction fee: $0.005/share | Withdrawal fee: $10

3. TD Ameritrade—Most comprehensive product lineup

Merged with Schwab in 2019, but its Thinkorswim platform remains independently operated and is still a top choice for many traders. Over 24 million clients can trade stocks, ETFs, funds, futures, options, etc. Offers over 100 commission-free funds, suitable for long-term low-frequency investors.

TD’s trading software is powerful, with comprehensive research tools and excellent Chinese support. Short-term trading costs are higher, but fund investment costs are very low. The current minimum deposit for opening an account is $0.

Minimum deposit: $0 | Transaction fee: stocks $0, options $0.65/contract | Withdrawal fee: $25

4. Firstrade—The most accessible Chinese-language broker

Founded in 1985, one of the earliest overseas brokers to provide Chinese services for Chinese investors. Fully online platform, quick account opening, no minimum account balance requirement, with zero commissions on stocks, ETFs, and options.

Firstrade is suitable for Taiwanese investors new to the US stock market, with a complete Chinese interface and reliable customer service. However, recent changes removed online live chat support, replaced by email support, which may be less responsive in emergencies. Withdrawal fee is relatively high ($35 per transaction).

Minimum deposit: $0 | Transaction fee: stocks/ETFs/options free | Withdrawal fee: $35

5. Fidelity—Top choice for fund investments

Founded in 1946, a global financial services giant, mainly focusing on mutual funds and ETFs. The largest 401(k) retirement plan provider in the US. Stocks and fund trades are commission-free, supporting wire transfers and Paypal deposits/withdrawals.

Taiwanese investors cannot open stock accounts directly; they can only purchase overseas funds via Fidelity Taiwan’s website. If purely investing in funds, Fidelity’s fund selection and fee rates are highly advantageous.

Minimum deposit: $0 | Transaction fee: $0 | Withdrawal fee: $10

6. eToro—Innovative platform for social trading and copy trading

Founded in 2007, a global social investment platform. Its biggest feature is built-in social functions, allowing observation of other investors’ holdings and decision-making, and copy trading. Trades CFDs on US stocks, with costs based on spreads (about 0.09%), no commissions.

eToro supports cryptocurrencies, commodities, forex, and other assets. The account opening threshold is low ($50), with a user-friendly Chinese interface. However, copy trading carries higher risks, and trade timing may lag.

Minimum deposit: $50 | Transaction fee: spreads 0-0.09% | Withdrawal fee: $5

7. Mitrade—Simplest CFD platform for trading experience

Registered in Australia in 2011, focused on CFD trading. The platform is streamlined and easy to use, integrating Tradingview charts, economic calendar, sentiment index, and other tools. Can trade US stocks, Hong Kong stocks, forex, indices, commodities, and cryptocurrencies.

Mitrade’s advantage is an intuitive trading process, from account opening to placing orders in just a few steps, with a demo account available for testing strategies. Transparent fee structure (spreads 0.01-0.015%, zero commission), and free withdrawals. Suitable for investors seeking a simple trading experience.

Minimum deposit: $50 | Transaction fee: spreads 0.01-0.015% | Withdrawal fee: 0

How to Quickly Determine Which Overseas Broker Suits You?

If you are a large-capital investor with low trading frequency: Consider Charles Schwab or omnibus services; Schwab offers higher security, while omnibus services save on currency exchange hassle.

If you pursue low-cost, high-frequency trading: Interactive Brokers or TD Ameritrade are professional choices, with powerful platforms but a learning curve.

If you are a beginner or Chinese speaker: Firstrade or Mitrade are the most user-friendly, with quick account opening, low costs, and complete Chinese support.

If you want to trade derivatives or short sell: Interactive Brokers provides comprehensive tools; eToro and Mitrade offer CFD contracts.

Three Major Risks to Watch Out for When Choosing an Overseas Broker

Capital safety risk: Even large listed brokers (such as Schwab on NASDAQ) theoretically face capital chain risks. However, regulated brokers approved by authorities like FINRA, SIPC, or FCA have a very low chance of insolvency. Checking whether the broker holds licenses from these regulators is important.

Language and regulatory barriers: Investors unfamiliar with English or foreign tax regulations may be easily misled by false information or face difficulties with tax reporting. It is recommended to consult with an accountant or tax advisor.

Account inheritance difficulties: In omnibus models, if an accident occurs, inheritance can be handled through the domestic broker. For overseas brokers, investors must handle complex documentation and international procedures, which can be time-consuming and laborious.

Overall, overseas brokers excel in low fees and trading flexibility, but beginners should prioritize platforms with complete Chinese support and user-friendly interfaces. As experience grows, they can explore more advanced tools.