EverBank is a US based broker that allows US citizens to trade stocks directly on the Australian securities exchange (ASX).
They have no minimum balance to open an account.
I was able to open an account and start trading in less than a week once I submitted the paperwork.
I gain nothing from telling you about this company. I just think it is a useful broker and want to share it because it enables me to buy Australian stocks directly on their “native” exchange, rather than buy ADRs.
It also allows me to buy some Australian stocks that do not HAVE an ADR.
I will say this broker is NOT cheap in terms of trade execution. I recently placed a trade and the commission was around 50 AUD (37.70 USD at current exchange rates).
If you have a large account size, this probably isn’t as much of an issue, but for smaller accounts this is very expensive relative to the discount brokers you might be used to.
Having said that I think there are some great value stocks in Australia that you simply can’t buy unless you have access to trade on the ASX.