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How can Taiwanese investors trade US stocks in the most cost-effective way?
Many Taiwanese investors want to enter the US stock market but are confused about the fee structures and trading methods. Should they place orders through domestic brokers or trade directly with overseas securities firms? This article breaks down the cost structures, comparing the fees of sub-brokerage and overseas brokers, to help you make the most informed investment decision.
Two Major US Stock Trading Models: Sub-Brokerage vs Overseas Brokers
Sub-Brokerage: The Cost of Localized Service
Sub-brokerage refers to investors authorizing domestic brokers to purchase overseas securities on their behalf. The entire process involves two layers of delegation—placing an order with a domestic broker, who then executes the trade in the US market—hence the term "sub-brokerage."
Key advantages of sub-brokerage:
- One-stop service: Trade directly in TWD without the need for currency exchange
- Regulatory protection: Supervised by the Taiwan Financial Supervisory Commission, safeguarding investors' rights

Why is the Bias (BIAS) indicator a key tool for market analysis?
Stock market fluctuations stem from participants' psychological expectations. When investors are optimistic about the future, they rush in; when pessimistic, they hurriedly exit. These changes in expectations often cause stock prices to deviate from their fundamental trends. The Bias (BIAS) is a technical indicator used to capture these psychological expectations and actual price deviations, helping traders identify critical moments of overbought and oversold conditions.
Understanding the Nature of Bias (BIAS)
What is Bias (BIAS)? In simple terms, it measures the "percentage distance between the current stock price and the moving average line." When the stock price is far from the moving average, the market usually undergoes correction, which is where the value of Bias (BIAS) comes into play.
Bias (BIAS) is divided into two types:
- Positive Bias: Stock price above the moving average, usually indicating an upward trend with significant gains
- Negative Bias: Stock price below the moving average, usually indicating a downward trend with considerable decline
Imagine a bountiful harvest year

When it comes to technical analysis in forex, many investors have heard of the Wave Theory, but few truly know how to use it effectively. Is Elliott Wave Theory accurate? What is the underlying logic behind it? How can it be applied in forex trading? This article will guide you to a deep understanding of this classic market analysis framework.
The Birth of Wave Theory and Core Insights
In the 1920s-30s, analyst Ralph Nelson Elliott, based on 75 years of stock market data, unexpectedly discovered an astonishing pattern: market prices do not fluctuate randomly but follow a repetitive cycle pattern. He detailed this discovery in his book "The Wave Principle."
Simply put, Wave Theory believes that the collective psychology of market participants continuously drives prices up and down. These oscillations are not chaotic but form predictable wave sequences—five impulsive waves alternating with three corrective waves. This "5-3"

Technical Breakdown Reveals Critical Support Levels for AUD/USD
The Australian Dollar continues its sixth consecutive session of weakness versus the US Dollar, with AUD/USD now trading below the pivotal 0.6600 mark. On the daily chart, the currency pair has slipped beneath its ascending channel tr

The Dollar's Troubled Year Ahead: Morgan Stanley's Mid-Year Weakness Call
Morgan Stanley's latest currency outlook paints a compelling picture of 2026: expect the U.S. Dollar Index (DXY) to slide roughly 5% lower to around 94 by mid-year, marking a significant reversal before potential

Gold Spot Price Rebounds and Breaks Resistance Level Watch
During Friday's Asian trading hours, gold spot(XAU/USD) regained the $4,200 level. After reaching a three-week high the previous day and undergoing a short-term correction, buying interest at lower prices has helped it regain upward momentum. From a technical perspective, this rally is significant. Breaking through the clear horizontal resistance at $4,150 last week and reaching $4,200 suggests that the bullish momentum is still alive.
It is also important that key oscillator indicators on the daily and 4-hour charts remain upward. If the current trend continues, then

Understanding Index Futures: Basic Concepts
Index futures are a type of financial derivative based on a specific index. Since indices cannot be traded directly, the global futures market was created to allow investors to participate in price fluctuations through futures contracts. Unlike traditional stock trading, index futures use a margin system, enabling investors to control a contract value much larger than their initial investment with only a partial payment.
Early index futures primarily served institutional investors for risk hedging, but as the market developed, more retail investors have joined. Today, the uses of index futures are no longer limited to hedging; they are also used for speculative trading, arbitrage, and other purposes. The types have expanded from stock indices to include foreign exchange indices, volatility indices, and more.
The biggest difference between index futures and physical futures (such as gold or crude oil) is that at expiration, settlement is only done in cash, and physical delivery is not possible. This is because the index itself is virtual.

Why pay attention to the Japanese Yen exchange rate now?
Entering the second half of 2025, the TWD to JPY exchange rate has risen to the 4.85 level. This not only signifies changes in travel costs abroad but also reflects deep shifts in the global economic cycle and monetary policies. As one of the three major safe-haven currencies, the JPY's exchange rate fluctuations are often closely related to global inflation expectations—while changes in the Consumer Price Index (CPI) directly influence central bank policy directions. When the CPI calculation includes exchange rate factors, we find that JPY appreciation cycles are often accompanied by rising global economic uncertainty.
For Taiwanese people, the decision to exchange for JPY at this stage should consider three aspects: travel demand, asset allocation, and exchange gains.
The dual identity of the Japanese Yen: a tool for daily life and an investment asset
Daily application scenarios
Travel to Japan remains the main driver for currency exchange. Retail stores in Tokyo and Osaka still predominantly use cash transactions (credit card penetration is only 60

For many investors with limited funds, buying popular stocks often requires a large amount of capital. However, with the improvement of fractional share trading mechanisms, now you can start investing with just 1000 yuan, which is undoubtedly good news for monthly salary earners and savers. However, fractional share trading involves multiple steps such as fee calculation and trading session selection. Mastering the correct operation methods can help avoid losses.
What are fractional shares? Why do they occur?
The minimum unit of stock trading is one share, representing 1000 shares. When investors hold less than 1000 shares of a stock, these are called fractional shares, with the minimum trading unit being 1 share.
How are fractional shares usually generated? Mainly because buy and sell orders are not fully executed. For example, when stock prices fluctuate rapidly or trading volume does not meet the expected target, only part of the order may be filled, leaving the rest as fractional shares. Additionally, during the process of company stock allocation and dividend distribution, fractional shares are also often generated.

The concept of carry trade may seem simple—borrowing in a low-interest-rate currency and investing in high-interest-rate assets to profit—but in recent years, it has become one of the most explosive and risky trading strategies in the global financial markets. Especially since the Federal Reserve's aggressive rate hikes in 2022, this strategy has regained market attention and sparked numerous discussions about risks.
The Mechanics of Carry Trade
The core idea of carry trade is straightforward: utilizing the interest rate differentials of currencies across different regions to invest, earning the interest rate spread by holding high-yield assets. This strategy is most commonly seen in the foreign exchange market, hence also called "carry trade."
Simply put, when Taiwan's bank loan interest rate is only 2%, and U.S. fixed deposits offer a 5% return, the 3% difference constitutes the profit margin for carry trade. Theoretically, borrowing 2 million TWD to buy $100,000 worth of assets could earn a 30,000 TWD interest spread in one year.

Today, on the eve of the closing, Innolux (3481) shocked the Taiwan stock market with a fierce rally. After opening at 14.1 NT dollars in the morning, it soared to the daily limit of 14.85 NT dollars in less than an hour. The day's trading volume exploded to 370,000 shares, making it the highest traded stock in Taiwan today, and also driving the panel group including AU Optronics (2409) and Innolux (6116) to move in sync. Behind this limit-up surge, there is more than just speculative hype; it also reflects a triple resonance of capital flow, fundamentals, and technicals.
Major Capital Shift: Foreign Investors Reversing Course and Buying Nearly 30,000 Shares, Short-term Funds Accelerating Inflows
Who was the initiator of this limit-up rally? The answer is clear from the capital flow data. Previously conservative foreign investors in the panel industry suddenly reversed their stance today, aggressively buying nearly 30,000 shares, becoming the main driver pushing the stock price to hit the limit-up. Coupled with proprietary traders' hedging buy orders and a noticeable increase in margin financing, it is evident that funds from all sides are accelerating their entry to chase the rally.
Even more noteworthy is the increase in trading volume.

By December 2025, the exchange rate of the New Taiwan Dollar against the Japanese Yen reached 4.85, prompting many to reconsider the most cost-effective way to exchange for Yen. From 4.46 at the beginning of the year to now, the Yen has appreciated by over 8%. Whether for travel or asset allocation, choosing the right currency exchange method can save a lot of costs.
Why exchange for Yen? Not just for travel
When it comes to foreign currency exchange, the Yen is often the first choice, but the reasons go far beyond just visiting Japan.
In daily life, Japanese consumption still primarily relies on cash (credit card penetration is only 60%). Shopping in Tokyo, skiing in Hokkaido, or vacationing in Okinawa all require Yen cash. Additionally, purchasing agents and students studying abroad often need to exchange currency in advance to avoid sudden exchange rate fluctuations.
From a financial allocation perspective, the Yen is one of the three globally recognized safe-haven currencies, alongside the US Dollar and Swiss Franc. During market turbulence, funds often flow into Yen as a safe haven—during the Russia-Ukraine conflict in 2022, the Yen appreciated by 8% in one week—successfully

Moving average indicators such as the golden cross and death cross have their value in forex trading, but they also have drawbacks like lag and market dependence. These signals are reliable during strong trends but can easily trigger losses in consolidation or weak market conditions. Successful trading requires combining other indicators like RSI and establishing a comprehensive risk management mechanism to improve the success rate.

In the global financial markets, the US stock market has always occupied a central position on the stage. Its every move not only reflects the pulse of the US economy but also acts as a sensitive barometer, influencing the flow of global capital. However, the market is like the weather—unpredictable and changeable. When will a major stock market crash occur? What are the underlying reasons? How will these intense fluctuations impact assets such as Taiwanese stocks, gold, and bonds? How can investors anticipate risk signals in advance?
The Forgotten Lesson: The Astonishing Stock Market Crashes in History
Looking back at history, we find that the US stock market has experienced numerous dramatic crashes. Each one has left deep scars and taught us valuable lessons.
During the Great Depression of 1929, the Dow Jones Industrial Average plummeted 89% over 33 months, marking one of the darkest chapters in human financial history. Excessive speculation, high leverage trading, deteriorating economic fundamentals, coupled with chaotic trade policies, ultimately evolved into a global economic disaster.

The global pharmaceutical market is entering a new growth cycle. The US biotech market size is projected to reach $445 billion by 2027, with an annual compound growth rate of 8.5%, a figure that highlights the investment potential of this industry. Unlike traditional industries affected by economic fluctuations, the healthcare industry has anti-cyclical characteristics—people need medical care regardless of the economy, which determines the defensive nature of pharmaceutical stocks.
Why are biotech stocks worth paying attention to?
Industry Imagination Space is Large
Advancements in telemedicine technology, accelerated new drug development, and the aging population are multiple factors making the healthcare biotech industry a hot target in the capital market. Compared to the electronics industry, which is affected by economic cycles, the demand curve for pharmaceuticals is more stable, which is why more investors are turning their attention to this field.
Stock price drivers come from future expectations
Traditional financial indicators of biotech companies are often not very impressive—many companies are still in the R&D stage.

Want to access the US stock market through sub-accounts but confused about how it works, the fee structure, and the account opening process? This article will start from the actual needs of investors, systematically analyze the core points of sub-accounts, and help you determine whether this is the right investment method for you.
What exactly is the operation mechanism of a sub-account?
The official name of a sub-account is "Foreign Securities Trading via Trust," which simply means that domestic brokers act as your agents. When you place an order for US stocks through a domestic broker's app, your order is not directly sent to the US exchange. Instead, it is first sent to the domestic broker, who then forwards it to their overseas partner broker, and finally executes the trade on the US market.
Why is it called a "sub" account? Because the order passes through two layers of transfer — first from you to the domestic broker, and then from the domestic broker to the overseas broker. This "layered delegation" model is the origin of the term "sub-account."
Sub-accounts vs. Overseas

The core definition and calculation principles of the SMA line
The Simple Moving Average (SMA line) is one of the most fundamental and practical indicators in technical analysis. Its main function is to help traders identify the movement trajectory of an asset's price, reducing market noise and making trends clearer.
The calculation logic of the SMA line is quite straightforward: sum the closing prices of an asset over a specific period, then divide by the number of days in that period. For example, if you want to obtain the 20-day SMA line, you add up the closing prices of the past 20 days and then divide by 20.
Looking at a specific case will make it clearer. Suppose the closing prices of an asset over the past 15 trading days are as follows:
First group (5 days): 42, 48, 45, 41, 43
Second group (5 days): 39, 44, 46, 45, 41
Third group (5 days): 40, 38, 42, 47, 4

As inflation intensifies, especially as major economies like the United States face currency depreciation pressures, more and more people realize that simply keeping money in the bank is not enough. For newcomers to the workforce, facing initially low salaries and rising living expenses, how to use limited funds to achieve financial goals has become an essential skill of the modern era.
This article will thoroughly analyze the three common dilemmas faced by small investors: Can small investments truly be profitable? How to quickly multiply 1000 yuan? Among the many platforms in the market, which are the most trustworthy? Through systematic investment strategies and platform comparisons, we help you easily start your investment journey.
Six paths for small investors: from conservative to aggressive
Traditional bank savings offer minimal returns, but the booming financial markets have opened new possibilities for small investors. With 1000 yuan or even less, you can now start investing. The key is to understand your risk tolerance and choose the most suitable tools.
According to risk levels,