What nobody seems to have mentioned is that this is a merchant bank. The point of depositing money is to allow you to trade on NASDAQ etc. online. Just like Schwab, ETrade et al. So a lot of the money will be flowing _in_ to the US from Europe in effect. You could launder money this way, but as someone else has pointed out, opening a pizza shop is probably a better bet. Its not that cheap to trade in the US from Europe so the $29.95 per trade they are offering will find an audience I suspect.
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What nobody seems to have mentioned is that this is a merchant bank. The point of depositing money is to allow you to trade on NASDAQ etc. online. Just like Schwab, ETrade et al. So a lot of the money will be flowing _in_ to the US from Europe in effect. You could launder money this way, but as someone else has pointed out, opening a pizza shop is probably a better bet. Its not that cheap to trade in the US from Europe so the $29.95 per trade they are offering will find an audience I suspect.