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
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