Right, I will add to that in the cons. US brokers are in the range of ~10% margin loan rate, as compared to IB`s ~1,5%.
Indeed, Schwab is slow on the processing of an application. To this, Ive found TD Ameritrade more time efficient and their client service via chat to be responsive and knowleagable. Adding own experience, Schwabs application itself is pretty straight forward (everything done online no need for mail in, first open up a website registration to set access credentials, then once in, fill out application form, W8-BEN, upload identity and address documentation). But then… one needs to sit and wait in this “empty shell”, it might take them weeks (!!) to review application and activate the trading account. Once activated, one gets a note to fund the account.