Alliance

[Tim Pape 0]

Hi Bear Bull traders,

Anyone with experience with Alliance? Only see one feed with problems...

I "only" have about 10K to start trading with, so IB is out of the question...

I am a US (duel) citizen, but reside in Denmark.

[Alastair 114]

Just seeing this.  Alliance is solid company.  Founders/investors have a great reputation in Jamaica (the Financial Sector) in multiple businesses.  Initially tried them as I maintain a home in Jamaica ( spend 6 mths of yr in JA) which is near to the office, 2 - 3 stones throw away, so I could reach out and touch them if required.

Closed my account with them however for other customer support reasons,  think Andrew has an account with them, he did mention in chat a few times and I know of one other BBT member that has acct.

  

[Tim Pape 0]

Hi Alastair, Thanks so much for your reply:) I will go ahead and open an account! I assume that taxes to the US are not deducted automatically, and that any capital gains are to be filed with my 1040/2555? And as these are short term capital gains, they will be taxes as income?  

[Alastair 114]

3 hours ago, Tim Pape said:

Hi Alastair, Thanks so much for your reply:) I will go ahead and open an account! I assume that taxes to the US are not deducted automatically, and that any capital gains are to be filed with my 1040/2555? And as these are short term capital gains, they will be taxes as income?  

Tim, I am not a US citizen (Jamaican but normally spend time across other countries) so not sure of those taxes, but if Uncle Sams asks them for info based on Know Your Customer laws which Jamaica supports, they will provide the info to Uncle Sam within the existing legal framework.

Good luck.

[Alastair 114]

Just a heads up on Alliance see article below. I moved my account to CMEG.

https://www.loopjamaica.com/content/alliance-financial-ipo-remains-suspended

Do ur due diligence with them., not sure what is currently happening on inside.

 

http://jamaica-gleaner.com/article/business/20201230/alliance-financial-suspends-2-billion-ipo-regulators-probe-matter

 

Edited March 4, 2021 by Alastair

[Alastair 114]

More info here in local paper about Alliance..........update on previous post

Alliance bosses, companies charged with financial crimes | News | Jamaica Gleaner (jamaica-gleaner.com)

 

[Alastair 114]

Another update for u.

https://jamaica-gleaner.com/article/business/20220427/sagicor-investments-buying-aiml-securities-business