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Old 10-11-2006, 12:44 AM
Nate tha\\\' Great Nate tha\\\' Great is offline
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Join Date: Sep 2003
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Default Re: Possible Funding loophole: Online stockbrokers.

[ QUOTE ]
Most online stockbrokers allow you to setup your account as a checking account that you can write checkes against and both accept and receive electronic transfers.

Clearly, it wouldn't be a problem to fund these accounts as a US citizen, buying stocks isn't illegal.

Such a brokerage outside the US would likely remain blissfully uncaring, if not outright unaware, that any US customer of theirs would be barred from funding ewallets/casinos directly and honor any such transactions without hesitation.

The only question is: Are there any such online brokerages outside the US?

[/ QUOTE ]

If you can do all of these things with a brokerage account, then really what you have is not a brokerage account but a brokerage account and a bank account under the same umbrella. Thus, this workaround really is no different than opening a foreign bank account, period. And I imagine that securities laws are such that it is even more difficult to open a foreign bank account tied to a foreign brokerage than just a plain vanilla foreign bank account.

It would be the nuts though if I could transfer directly from Neteller to eTrade.
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