Platforms for auto-investments for H1B visa holders

Aug 17, 2021 8 Comments

Planning to setup auto-investment in mutual funds/ETFs as part of every paycheck.
I saw that Vanguard doesn't allow creating an account for non US citizens.
Have a few questions :
1. Which platform to go for ?
2. Should I go for a general individual account or traditional IRA or Roth IRA ?

#personalfinance #investments

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  • CGG / Data
    rbitg

    Go to company page CGG Data

     rbitg
    JP morgan invest account - allows automated investing for Mutual funds only
    Robinhood - allows automated investing for ETFs, stocks too
    Aug 17, 2021 2
    • OP
      What's better considering returns and fees ?
      Mutual funds OR ETFs OR index funds ?
      Aug 17, 2021
    • CGG / Data
      rbitg

      Go to company page CGG Data

       rbitg
      Are you looking at broad market or sector specific?
      For broad markets, mutual fund like VFAIX has negligible fee and is identical to ETF like SPY.
      I don't know examples of sector specifics to compare.
      Aug 17, 2021
  • Also is your income eligible for IRA? The investment limited is also pretty low. As gains are not taxable, I used it for riskier investments. But now my income doesn’t make me eligible to use it
    Aug 17, 2021 1
  • RH is good for stocks and ETFs. Doesn't have mf option. Ability to buy partial recurring stocks/ETFs is great. ETFs have lower fees as compared to mf.

    You can open Vanguard and almost all other broker accounts also without being a citizen.
    Aug 17, 2021 0
  • Cummins
    QeEf36

    Go to company page Cummins

    QeEf36
    Fidelity allows for investing in mutual funds, ETFs, IRAs if you’re on H1-B.
    Aug 17, 2021 0
  • For ETF, I am using Robinhood. I believe Fidelity allows non USC to open auto investing for Mutual Funds
    Aug 17, 2021 0