Open an account in HKG, SGP or Jersey or some other exotic place.
Nobody is going to block that.
This the original statement
You can't block a phone application for a bank. Trading your securities is a feature built within the bank website or app
This original claim is inaccurate and misleading.
Yes, some people open offshore accounts (including in jurisdictions often labelled tax havens) and sometimes do so through intermediaries.
However, the statement “You can’t block a phone application for a bank. Trading your securities is a feature built within the bank website or app” is totally misleading. Authorities can and routinely do restrict, freeze, or block access to banking apps, online accounts, and related services, including for reasons involving compliance, sanctions, risk, or intermediaries.
Governments and regulators can and do block or severely restrict banking/fintech apps and online account access for many reasons (sanctions, AML/CFT concerns, national security, illegal activity, regulatory non-compliance, etc.). The fact that a particular app or intermediary has not yet been targeted and blocked does not mean authorities lack the power or will never exercise it. They can (and have) targeted intermediaries, payment infrastructures, app stores, or the underlying banking relationships themselves. Access can also be cut off at the account, institution, or network level even if the app itself remains technically available. Technically, it is not that difficult. Let alone blatantly saying
You can't.
Also, the Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan / OJK) issued an official directive restricting domestic financial institutions and foreign representative offices from marketing non-OJK licensed investment products and offshore securities
.
Also, in the context of trading of foreign shares (as discussed in posts #8 and #10): using an offshore bank account instead of a proper trading account can be extremely expensive for retail traders.
Typical costs include around US$10 per trade, wide bid-offer spreads, and annual account fees. A trader executing 25 trades a day (or more) could easily pay $250 or more in trading fees alone. If you are just trading 2-3 times a year or you are a multi millionaires of course this trading fee is less relevant.
In contrast, dedicated trading platforms and apps usually charge no commission per trade. They make their money mainly from the spread and modest annual fees, which are generally far lower than the costs charged by an offshore bank account used for trading and benefiting from economies of scale driven by trading volume. Also unlike a proper trading account, using a banking offshore account, you have limited offer of the varieties of assets, foreign stocks and share you could trade.
