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today's trending topic covers how does one invest in nasdaq as the global economy
recovers from the covert 19 lock downs which force thousands of businesses across the world
to close down australian investors are looking for ways to diversify their portfolios and while the
australian securities exchange or asx has over 2 000 listed companies for investors to choose
from there are exchanges worldwide offering a lot more choice and one such exchange which also
happens to be the second largest is the nasdaq and while australians are geographically situated half
a world away from wall street that doesn't mean they can't invest in the famed exchange
the nasdaq what is it while the new york stock exchange or nyse is the largest in the world
it's followed closely by the national association of securities dealers automated quotations or
nasdaq the nasdaq which currently trades in 25 markets five central security depositories in
the united states and europe and one trading house commenced on wall street in new york city in 1971
and now boasts an index of over 3 000 listed companies including tech giants like apple and
amazon so as well as stocks the nasdaq also lists some of the world's most popular crypto
currencies in 2007 the nasdaq officially partnered with the omx the scandinavian exchange group
it currently handles approximately 10 of the world's transactions on securities
and the speedy evolution in technology has made nasdaq's electronic trading the gold standard
for markets worldwide can australians invest in nasdaq australians looking to diversify their
portfolio have turned to the nasdaq to trade and invest in a wider range of stocks and commodities
the most popular method of trading in the nasdaq from anywhere overseas is using a share trading
platform such as etoro or ig share trading and different platforms offer different trading fees
with some platforms charging no trading fees for u.s exchanges through these platforms it's
possible to buy and sell individual stocks listed on the nasdaq it's also possible for anyone to
invest in contracts for difference or cfds which allow traders to speculate on the movement of
assets including stocks however it must be stated that this is a considerably far more risky option
so how do australians invest in nasdaq after choosing a trading platform as previously said
different platforms charge different fees so it's important to shop around the investor will simply
need to open a share trading account and to do this you'll need to enter your basic details
name date of birth postal address etc and then provide a primary form of identification
like a passport you'll also be asked to share your tax file number or tfn
and this is important as australians are required to abide by the australian tax legislation
which may include capital gains tax depending on the size of the profits as well as a length
of time on many sites such as etoro the investor is asked a series of questions and this includes
things like annual income but might also include a question to test and investors experience
and investing acumen investors may also be asked how many years of trading and stock investment
experience they've had as well as the investors risk versus reward expectations while these
questions may seem invasive the site does this as part of the asic requirement to protect investors
from potentially losing their money in ill-advised trades sites such as etoro will not allow those
to trade who haven't scored 10 out of 10 in a multiple choice questionnaire it should also be
noted the information and investor supplies are kept strictly confidential deposit funds
next the investor will be required to deposit funds into their chosen sites account different
exchanges have different minimum deposits but you can invest as low as 50 australian dollars
the investor is then required to convert their currency from australian dollars to us dollars
and there is usually a small fee associated with this by nasdaq shares the last step of
course is to buy shares and this is a tricky bit so it's imperative that the investor conducts
through paris research before deciding what to buy and furthermore it's important to lay out
some financial goals before getting started for example for example are you investing
for long-term gains or are you trading stocks daily answering these questions will determine
your investment strategy virtual investing a good way to introduce oneself to a foreign market is
to begin by virtual investing investing fake money most platforms have this feature and
it allows people to trade without the risk of losing any real money it's a great way
to learn but it's also virtual and that may sound obvious but things are very different
when there's real money at stake and feelings such as fear which can be detrimental to an investor if
not adequately managed are notably absent or at the very least virtual when investing with fake
money but that's another subject for another day and good luck and good investing thanks
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