E*Trade Decides To Span The Globe
E*Trade announced that it will allow its customers to trade on the Toronto Stock Exchange, the Tokyo Stock Exchange, Euronext Paris, the Hong Kong Stock Exchange and the London Stock Exchange. A survey by the discount broker showed that a…
E*Trade announced that it will allow its customers to trade on the Toronto Stock Exchange, the Tokyo Stock Exchange, Euronext Paris, the Hong Kong Stock Exchange and the London Stock Exchange. A survey by the discount broker showed that a majority of its customer wanted to trade foreign stocks.
The move may be good financially for E*Trade (ETC). It will charge a price for each trade in a foreign currency.
The question is whether the move is good for investors. Research for stocks traded overseas is not always complete and the financial statements of companies in other countries don’t usually match those that US individual investors are used to seeing.
It may not be as attractive as it sounds.
Douglas A. McIntyre
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
