Trying to Open Account from Venezuela

VPN
1

Hey there! As the title says, I’m trying to open an account from one of hell of a doo-doo country. The issue is, I can’t seem to find a compatible payment method to both fund and withdraw from the account. Any suggestions? So far, what I’ve discovered is that I can’t use the most common methods available to me — PayPal, Payoneer, Binance, among others. The other option I thought was worth exploring was opening an LLC in the US through a registered agent, creating a Mercury Bank account, and start from there. But that’s an expensive option and I don’t really know if it will be compatible/worth it for a small investor such as myself. However, I would really like to invest in ETFs.

So, what I’m asking is:

  • Suggestions of payment methods that I could use from Venezuela, especially from suffering comrades.
  • Suggestions of other similar brokerage services that are kinder to my situation.
  • General suggestions that I could try.

Thanks in advance for your suggestions and tips. Cheers and happy new year :).

2

I was in the same boat. It’s definitely a pain to deposit funds from Venezuela. The “easiest” way that I’ve found so far is to open a FaceBank account but you will need at least $500 and your passport. Also through Banesco but it requires at least $3.000. It sucks for us ;(

I ended up going back to crypto despite that I really wanted to invest through Interactive Brokers, later I guess.

3

So, did IBKR open you an account in the first place?

4

You can use payoneer i think, search for it on youtube. They give you an amerocan bank account in your name so you can pay and receive payment in usa. Then transfer them to ibkr using ACH transfer. I am also from a bankrupt country so i searched for all possible ways and this one will work. Search for it.

5

Go to the states and open a us bank account. Then direct deposit from that into ibkr

6

Greetings. Any progress? I got the same issue.

7

Hey there! I had researched that one, but it’s not available in Venezuela. Best I could do is get someone outside of the country to lend me their phone number to create the account and use a VPN to gain access to it.

8

You need a bank account to verify your Payoneer account. This account it doesn’t have to a Venezuela bank account btw

9

Interesting, thanks for your suggestion, I’ll look more into it. However, my initial research led me to a forum where someone was asking if it was possible, and the answer was directing him to the list of transactions that are blocked or at least frowned upon by Payoneer. One of them was stock trading and related stuff.

10

Nope, instead of trading I got into crypto since it’s much easier.

11

They mean leveraged forex and crypto and these stuff, not ibkr.

12

What did you do in the end? I’m reading as Colombia could be financially sanctioned by the US.