Why does Elphinstone not offer CFDs?

According to Investopedia, a contract for differences (CFD) is a contract between a buyer and a seller that stipulates that the buyer must pay the seller the difference between the current value of an asset and its value at contract time. CFDs allow traders and investors an opportunity to profit from price movement without owning […]

Why do you not accept funds from Pakistani rupee bank accounts?

As we have mentioned elsewhere, it is legal for a resident Pakistani citizen to invest up to $25,000 per person per year in foreign stocks, and to do so by converting money in their Pakistani rupee bank account to remit abroad, and that such a remittance is allowed without requiring permission from the State Bank […]

What is SIPC insurance and what does it protect?

The Securities Investor Protection Corporation (SIPC) is a non-profit organization established by the United States Congress in 1970 to provide limited protection to customers of failed brokerage firms. The SIPC’s mission is to help investors recover their money in case a brokerage firm fails, and it plays a vital role in safeguarding investors’ interests in […]

How do I send money into my Elphinstone account?

Elphinstone can accept funds from the following types of accounts: At this time, unfortunately, we cannot accept deposits directly in Pakistani rupees. Here is an article explaining why. To fund your account from a Payoneer, Wise, or US bank account, please send your funds via ACH transfer to the following account: Bank name: JPMorgan Chase Bank, […]

What does Elphinstone invest in?

The Elphinstone US investment product – delivered through the eponymous Elphinstone app – offers automated investment advice to residents of Pakistan for investments in capital markets in the United States. The company offers advised portfolios in addition to providing clients with access to the ability to make self-directed investment decisions and trades. For the advised […]

What are stocks and bonds, and why should one invest in one versus the other?

Let us talk about what you would actually invest in as a client of Elphinstone. Through an Elphinstone account, you can invest in stocks and bonds. Let us first start with some definitions. A stock, also known as a share or equity, represents ownership in a publicly traded company. When you buy a stock, you […]

What is an investment account and how does it differ from a bank account?

To understand what an investment account is, it helps to understand how bank accounts work, and then illustrate the ways in investment accounts are different, and the ways in which they are similar. You know what your bank account is: you put your money into a bank, and the bank will give that money back […]

Is it legal for Pakistanis to invest in the US?

Is it legal for Pakistanis to invest in the US There are generally no restrictions or limitations on the part of the US government with respect to foreign nationals owning US publicly listed stocks and ETFs. The only exceptions to this rule generally involve US sanctions on countries or individuals. Pakistan does not fall under […]

Where will I owe taxes on my US investments and how much?

Where will I owe taxes on my US investments and how much? [Note: This article is written from the perspective of Pakistanis investing in the US. If you are a US citizen, permanent resident, or tax resident, this article absolutely does not apply to you at all. It is also not a comprehensive guide, so […]