Originally Posted by
SBQ
If i'm not mistaken, security of deposits in NZ would be different than abroad as NZ doesn't have depositor insurance. If they did on NZD, they certainly would not on foreign currency. This has been the case where I grew up in Canada where Cdn currency deposits were insured up to $100K per account in CDN currency but anything foreign is not covered.
Therefore the issue of where you park your funds is important, hence i'm speaking big fish here. Also each broker has varying coverage on insured balances. SIPC comes to my mind which both IBKR and TDAmeritrade/Schwab offers to ALL account holders.
What I don't like about NZ brokers like Jarden is their high administration fees. Also if I choose to leave NZ to live abroad, i'm much happier with a large overseas broker than someone local only to NZ.
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