# Wanted: Good US Online broker



## Qlds007

*Wanted Good US Online broker*

Just wondered if all the night owls out there could :goodnight  recommend an online broker (preferably one who can open an Australian account without too much drama.) to trade the US markets.

I have tried to open an account with OptionsExpress but cant get anyone to respond to my emails. Posted the account application over a month ago by registered mail but have heard nothing.

Help appreciated. :goodnight


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## money tree

*Re: Wanted Good US Online broker*

Interactive Brokers


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## wayneL

*Re: Wanted Good US Online broker*



			
				money tree said:
			
		

> Interactive Brokers




Most Aussies use IB. There are a few hoops to jump through, but nothing insurmountable.

Once thats done its easy as pie...cheap...good platform...reasonably reliable.

You can trade shares, options and the electronic futures.

www.interactivebrokers.com


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## Qlds007

*Re: Wanted Good US Online broker*

Cheers Guys i'm onto them.


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## positivecashflow

*Re: Wanted Good US Online broker*

I Use OptionsXpress... check them out... at http://www.optionsxpress.com.au

Cheers,

J.


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## positivecashflow

*Re: Wanted Good US Online broker*

I had no dramas opening an account... Qld007, did you open the account through the net?


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## positivecashflow

*Re: Wanted Good US Online broker*

Here is a review I found of the Interactive Brokers servic:



> General Description: Interactive Brokers is a direct access brokerage serving active and professional traders. The firm offers a sophisticated trading platform and the ability to trade multiple financial markets around the globe. In addition to serving active traders, Interactive Brokers also offers a variety of services to financial advisors and other institutional investors. However, visitors to this site will probably be most interested in the firm’s rock bottom commission rates and comprehensive options trading capabilities.
> 
> Features: Interactive Brokers is perhaps the only firm to offer traders the tools and capabilities to trade multiple financial markets in one convenient location. The IB Universal account allows traders to buy and sell stocks, options, exchange-traded funds, single stock futures, and futures within the same account. In addition, the system allows trading in a wide array of international markets (the UK, Australia, Japan, Switzerland, etc.) from one Trader Workstation screen. The transaction history and positions for all investments are also reported in a single statement.
> 
> Additional Services: In addition to providing trading in multiple financial markets, Interactive Brokers offers a variety of services for tech savvy investors. A free demo is available on the firm’s site and allows traders to test drive the trading platform before opening an account. The Application Program Interface (API) gives traders the ability to program their own add-on applications in Excel, C++, Java, and Visual Basic. In addition, the mobile trader feature provides clients the ability to trade the markets via mobile devices (phones, PDAs, Rocket Phones) from anywhere around the globe.
> 
> Options: Options traders use Interactive Brokers’ TWS system to create combination limit orders for options and spread orders for futures. Traders can also create unique combinations by establishing a position one leg at a time. At this time, the TWS provides templates for the following option strategies: vertical spread, calendar spread, futures calendar, diagonal spread, straddle, strangle, synthetic put, synthetic all, box, conversion, and reversal.
> 
> Stocks: Stock trades cost just .01 a share with a $1.00 minimum. Futures trades are executed for $2.40 and Single Stock Futures are traded for $1.00. Options trades cost just $1.00 a contract.
> 
> Account Minimum: $2,000 to open an account.
> 
> Quotes: Free US Securities & Commodities Bundle (which includes stocks, options and futures.) $20.00 extra fee for Nasdaq Level II quotes. Check web site for latest fees for quote services for international markets.
> 
> Miscellaneous: Interactive Brokers allows traders to post thoughts or questions in a discussion forum, and participate in chat sessions with other traders or management. The firm also handles specialized orders such as baskets, trailing stops, and contingent orders. Broker-assisted orders are available in the event of a system outage, but are not encouraged otherwise. Instead, Interactive Brokers is best suited for active do-it-yourself traders that want a one-stop shop for direct access trading in multiple financial markets at deep discounted commission rates.




Hope this helps ya.


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## salz

*Re: Wanted Good US Online broker*



			
				Qlds007 said:
			
		

> Just wondered if all the night owls out there could :goodnight  recommend an online broker (preferably one who can open an Australian account without too much drama.) to trade the US markets.
> 
> I have tried to open an account with OptionsExpress but cant get anyone to respond to my emails. Posted the account application over a month ago by registered mail but have heard nothing.
> 
> Help appreciated. :goodnight





try Brown Co. or Ameritrade...
I prefer Ameritrade...


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## imaginator

*Trading USA stocks*

DOes anyone know any broker website that allows me to trade USA stocks at night?

I am looking for something that can give me a live date like Comsec Professional Trader, usable for US stocks.

Also please recommend me a cheap online broker?


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## wayneL

*Re: Trading USA stocks*

www.interactivebrokers.com

Makes commsuck look like amatuers.


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## It's Snake Pliskin

*Re: Trading USA stocks*



			
				wayneL said:
			
		

> www.interactivebrokers.com
> 
> Makes commsuck look like amatuers.




Wayne,

Can anyone regardless of location start an account with them?


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## wayneL

*Re: Trading USA stocks*



			
				Snake Pliskin said:
			
		

> Wayne,
> 
> Can anyone regardless of location start an account with them?




They have accounts in lots of different countries. Whether there are any particular countries that are excluded, I don't know. But I don't think so.


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## imaginator

what time does the US stock market open/close in australian time? do you guys trade over the night?

Also, fior the Interactive Brokers program, can you see real live chart like in Comsec Pro Trader?


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## wayneL

imaginator said:
			
		

> what time does the US stock market open/close in australian time? do you guys trade over the night?
> 
> Also, fior the Interactive Brokers program, can you see real live chart like in Comsec Pro Trader?




Broker charting leaves a lot to be desired.

You can feed live prices into various charting packages. eg you can feed IB data into amibroker or sierra charts or similar. You can subscribe to a data service such as esignal...

or for everything all in one place try www.tradestation.com


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## nizar

imaginator said:
			
		

> what time does the US stock market open/close in australian time?




11:30pm melbourne time open
06:00am melbourne time close


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## michael_selway

nizar said:
			
		

> 11:30pm melbourne time open
> 06:00am melbourne time close




http://money.cnn.com/data/premarket/

that might help also

thx

MS


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## It's Snake Pliskin

Has anybody tried these guys?

http://www.internaxx.lu/index.jsp?navform_menuid=home


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## It's Snake Pliskin

*Re: Wanted Good US Online broker*



			
				wayneL said:
			
		

> Most Aussies use IB. There are a few hoops to jump through, but nothing insurmountable.
> Once thats done its easy as pie...cheap...good platform...reasonably reliable.
> 
> You can trade shares, options and the electronic futures.
> 
> www.interactivebrokers.com




What are the hoops? 

How long does it take to get an account up and running ready to trade with?


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## wayneL

*Re: Wanted Good US Online broker*

It's quite a while since I opened my a/c so the memory is a bit rusty, but:



			
				It's Snake Pliskin said:
			
		

> What are the hoops?



Mainly copious numbers of forms, verifying ID etc.



			
				It's Snake Pliskin said:
			
		

> How long does it take to get an account up and running ready to trade with?



Probably somewhere between 1-2 weeks

FWIW, I would seriously look at www.tradestation.com as well.


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## RobinHood

Again, IB. Everyone I know who is serious uses it. If your under 23 I think it is you pay $3 a month instead of $10


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## cogidubnus

Thank myou for help topics


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## professor_frink

*Re: Wanted Good US Online broker*



			
				It's Snake Pliskin said:
			
		

> What are the hoops?
> 
> How long does it take to get an account up and running ready to trade with?




I opened an a/c a couple of months ago with them, didn't find it too bad. Most forms could be filled out electronically. You can scan and email them your ID,etc. Took about a week to get all the info to them and have the a/c opened, and another week later my wire was in my a/c and I was ready to go.


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## It's Snake Pliskin

Thanks Wayne and Professor Frink.


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## hissho

what about www.thinkorswim.com? has anyone tried it?

thanks


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## hissho

seems i need to ask it again...maybe everyone's already on holiday...

has anyone used thinkorswim? any comments/feedback?

thanks a lot


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## wayneL

hissho said:
			
		

> what about www.thinkorswim.com? has anyone tried it?
> 
> thanks




Hissho

I have not used, but know many who do.

It has a *very good* reputation. For options is is probably second to none.

It is in the procees of being taken over by another (optionxpress I think), so don't know what effect that will have.


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## Dr Stock

Found this on another stock forum

www.zecco.com

due to launch in october.

Free trading. No brokerage whatsoever.


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## Hopeful

The best broker for you depends on what, how, and how often you trade etc. But one thing I can say is that IB is infinitely better in every way than any Aussie broker I have ever used. I wonder how lquay and MAN are doing these days now that the milking cows have gone to leaner greener pastures?


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## wayneL

Hopeful said:
			
		

> The best broker for you depends on what, how, and how often you trade etc. But one thing I can say is that IB is infinitely better in every way than any Aussie broker I have ever used.



Amen!


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## Out Too Soon

Then r we simply all better off trading US stocks & forgetting about ASX????   
Right now I'm jumping thru all soughts of hoops just to open a Netwealth acc because Westpac is such an arrogant, unhelpful rippoff.  
 No brokerage fees??  , Dr Stock that sounds too good to be true & you can guess how I react to things too good to be true


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## Out Too Soon

Has anyone tried Zecco yet???


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## lancedefrance

Not to hijack the thread or anything, but I was going to post something similar in the beginners forum. I would like to invest in US plus Aussie stocks (not much trading or may be some very light EOD trading) would IB be a good choice?


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## professor_frink

If you aren't really going to do any trading, had you thought of comsec- you can buy and sell international shares with them. At least you'd have all your money in the one account.

Although you will get screwed royally on brokerage(Comsec charge $65, and they actually have the nerve to call that "low" on their website  ). That may not matter if you aren't going to be buying/selling very often.


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## lancedefrance

professor_frink said:
			
		

> If you aren't really going to do any trading, had you thought of comsec- you can buy and sell international shares with them. At least you'd have all your money in the one account.
> 
> Although you will get screwed royally on brokerage(Comsec charge $65, and they actually have the nerve to call that "low" on their website  ). That may not matter if you aren't going to be buying/selling very often.




I will be doing some *light * end of day trading, and yes I have considered Comsec and I'd rather deal with someone else if I can. However if I have to i will have two accounts one with IB for US/international and one with Comsec for ASX. I'd rather just have the one account however if IB allows me to trade ASX stocks with reasonable fees. 

So what do you recommend IB for everything or comsec + IB? or someone else?


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## professor_frink

lancedefrance said:
			
		

> I will be doing some *light * end of day trading, and yes I have considered Comsec and I'd rather deal with someone else if I can. However if I have to i will have two accounts one with IB for US/international and one with Comsec for ASX. I'd rather just have the one account however if IB allows me to trade ASX stocks with reasonable fees.
> 
> So what do you recommend IB for everything or comsec + IB? or someone else?



If you are going to do some light trading, then stay as far away from Comsec for international trading as you can. Compared to their low rate of $65 a trade, IB will charge from $1 US a trade. A huge difference.

You can't trade the ASX with IB as yet. 

Another option is optionsXpress, they are a bit more expensive than IB for U.S shares(still head and shoulders above Comsec for brokerage though), but you can trade both the ASX and U.S from 1 a/c.


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## lancedefrance

Thats great thanks alternatively if I just wanted to trade ASX shares? would Comsec be OK or is there someone else better?


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## professor_frink

lancedefrance said:
			
		

> Thats great thanks alternatively if I just wanted to trade ASX shares? would Comsec be OK or is there someone else better?



From what I've seen, most are roughly the same when it comes to brokerage, so it doesn't really matter too much(it's been a while since I've traded shares though, so you'll have to find out for yourself!). I've previously used Comsec, and didn't have a problem with them at all.


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## Out Too Soon

I'd definitely have a problem with paying a $65 brokerage fee  What a rip off! shame on you professor.
Most brokerages are around $25 for ASX, Westpac has changed mine from $25 to $29 at the start of the year saying I'd have to open a new acc. as my old one was suddenly not acceptable as integrated   obviously I'm not happy with MY bank but what's new.   
Netwealth only charge $17.99 brokerage but are really unhelpful when you are trying to sign up, hence I'm still with MY BANK Grrrrr!
Professor, suggesting Comsec is simply perpetuating a ripoff of small traders!
If you bought a stock on Comsec for $650 then you would have to see an increase of *20%* just to break even. ie $65 fee on purch then $65 on sale.


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## professor_frink

Out Too Soon said:
			
		

> I'd definitely have a problem with paying a $65 brokerage fee  What a rip off! shame on you professor.
> Most brokerages are around $25 for ASX, Westpac has changed mine from $25 to $29 at the start of the year saying I'd have to open a new acc. as my old one was suddenly not acceptable as integrated   obviously I'm not happy with MY bank but what's new.
> Netwealth only charge $17.99 brokerage but are really unhelpful when you are trying to sign up, hence I'm still with MY BANK Grrrrr!
> Professor, suggesting Comsec is simply perpetuating a ripoff of small traders!
> If you bought a stock on Comsec for $650 then you would have to see an increase of *20%* just to break even. ie $65 fee on purch then $65 on sale.



Shame on me??

If you don't like what I have to say then don't ****ing read it.

Go back over and re read what I said- I only suggested it as he may have wanted the convenience of having 1 account.



> If you are going to do some light trading, then stay as far away from Comsec for international trading as you can



Was there something about this statement that you couldn't understand, or were you too lazy to read that part?


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## bowser

It's Snake Pliskin said:
			
		

> Has anybody tried these guys?
> 
> http://www.internaxx.lu/index.jsp?navform_menuid=home




It looks like their fees have been reduced recently. I was thinking about opening an account with internaxx , but from memory they charged a monthly fee thats a % of your total capital. I cant find it in the small print anymore so maybe they've changed their policy.

What did you think snake?


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## nizar

professor_frink said:


> If you are going to do some light trading, then stay as far away from Comsec for international trading as you can. Compared to their low rate of $65 a trade, *IB will charge from $1 US a trade. A huge difference.*




Thats beautiful, ill be checking it out.


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## It's Snake Pliskin

Australia is an expensive place for brokerage.


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## Glenhaven

lancedefrance said:


> Thats great thanks alternatively if I just wanted to trade ASX shares? would Comsec be OK or is there someone else better?




I use Andrew West and I suggest they are at least worth a look. The fees are OK is you trade online.


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## vishalt

yeah Aus brokerage rates + interest is a joke, but the stockmarket is really good .


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## dubiousinfo

Glenhaven said:


> I use Andrew West and I suggest they are at least worth a look. The fees are OK is you trade online.




Had a look at their website and found the following on rates:

"brokerage rates - starting from $29.95 for trades up to $30,000 in value, and 0.11% for trades over $30,000"

This would appear to be the same as Etrade, which is one of the more expensive rates around.


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## nizar

For aust. equities, try Morrisons.
Brokerage is $22 upto $50k.


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## Glenhaven

dubiousinfo said:


> Had a look at their website and found the following on rates:
> 
> "brokerage rates - starting from $29.95 for trades up to $30,000 in value, and 0.11% for trades over $30,000"
> 
> This would appear to be the same as Etrade, which is one of the more expensive rates around.




Maybe I am out of touch, but when I last checked others brokers had monthly fees or minimum number of trades per month to get access to the professional platform. 

I stayed with Andrew West as I can do no trades at all in a month, get access to all I want and pay no monthly fees, and the rates were as low as others. Is this no longer so?


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## ShiroKage

Out Too Soon said:


> Has anyone tried Zecco yet???




i too would like to hear something about zecco.


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## Hopeful

IB is cheap and cheerful! Put's the Aussie brokers to shame. Great for active traders. Less active traders might want to try a no-commission broker such as http://www.zecco.com/. I think it only takes a few days to open the account at IB if you supply the correct ID and address confirmation documents - all the forms can be filled out online and submitted immediately. You can even scan and email your ID documents for the fastest service. IB is truly fully electronic - I'll bet in the future you can do on online retina scan or DNA scan for ID.


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## boiler123

I read this thread and looked at Interactive Brokers and I got a bit overwhelmed about their conditions (like minimum account balance and minimum trading).

Since I am not a trader (I don't want to trade) or sophisticated investor, I just want to buy a few Berkshire Hathaway B shares (cannot afford A shares) to lock away between 5 to 10 years.  I don't think Interactive Brokers would suit my simple requirement.  So, is there any other online broker who would meet my need?

I have got an application from Comsec, and yes for international shares they charge US$65 or 0.75% whichever is greater.


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## wayneL

boiler123 said:


> I read this thread and looked at Interactive Brokers and I got a bit overwhelmed about their conditions (like minimum account balance and minimum trading).
> 
> Since I am not a trader (I don't want to trade) or sophisticated investor, I just want to buy a few Berkshire Hathaway B shares (cannot afford A shares) to lock away between 5 to 10 years.  I don't think Interactive Brokers would suit my simple requirement.  So, is there any other online broker who would meet my need?
> 
> I have got an application from Comsec, and yes for international shares they charge US$65 or 0.75% whichever is greater.



Prolly as good as any for what you want to do then.


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## boiler123

wayneL said:


> Prolly as good as any for what you want to do then.




Hi Wayne

Who is Prolly?  Sorry I am not with you.


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## wayneL

boiler123 said:


> Hi Wayne
> 
> Who is Prolly?  Sorry I am not with you.



Prolly = probably.

Sorry, IRC code.


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## boiler123

wayneL said:


> Prolly = probably.
> 
> Sorry, IRC code.




OK, thanks!


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## chrisdedavid

I fail to see why TradeStation and OptionStation are not mentioned here.

It looks like it's commission free with cheap trades. Not sure where the strings are attached.

Any info would be appreciated. Thanks.


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## chrisdedavid

Also, this snap shot says $200 for the first Statement, is that right? 

I'm guessing that Archived Statements are optional.

And... what about Scottrade?
Their rates seem unbeatable.


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## chrisdedavid

OK Now here is *one for options trading*  

These prices just kill the others, well that's what I can see, anybody wish to comment 

*optionhouse*

Is this really as good as it gets?
 ... hmm ... I guess this may differ dramatically with the online access, software, charting, and free data services they provide to clients. Anybody got some inside info?

Thanks, Chris. :newbie:


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## Ken

*How do I buy U.S. stocks?*

I want to purchase the following stocks in the US:

Bank of America
Citigroup
Merrill Lynch

I am looking at buying $30,000 in total.

I live in Australia, what online broker can I use for this? I am currently with Westpac.

Thank you.


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## ithatheekret

We use HSBC for US stocks .


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## wiseguy

i use Interactive brokers for futures.
im sure they do stocks too


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