# Resources for trading UK or US stocks?



## el caballo (26 April 2008)

Hi all,

I'm curious to know if anyone is trading American or UK stocks.

If so, could you please advise me on the following:

1) Broker used and associated brokerage rates.
2) Chart package and data used.
3) Lifestyle/trading managment issues with respect different time zones.

Apologies if any of this has already been covered elsewhere in the forum - I searched for 30 mins this morning, but failed to find anything substantive.

Any input is greatly appreciated.

Thanks,
Greg


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## spectrumchaser (27 April 2008)

Hi el caballo,

     I have also been thinking about some exposure
to international shares the Canadian tar sands look
interesting.

  Both sonrayglobal.com.au      and
          comsec.com.au   
both appear to have this facility available


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## Robert (28 April 2008)

I trade US Stocks through Interactive Brokers  
Brokerage fees are 0.005 per US share or click on link http://individuals.interactivebrokers.com/en/accounts/fees/commission.php?ib_entity=llc

Charting software Metastock V10
Data supplier Premium Data

I trade end of day.  All decisions are made in the evening after 8.30pm prior to US market opening, place orders and walk away until next evening.


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## el caballo (28 April 2008)

Thanks guys - I appreciate the feedback.


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## IFocus (28 April 2008)

el caballo said:


> Hi all,
> 1) Broker used and associated brokerage rates.




IB rates as quoted above



el caballo said:


> 2) Chart package and data used.




Amibroker cheaper and more flexible / than MS plugs into IB




el caballo said:


> 3) Lifestyle/trading managment issues with respect different time zone




IB have 40 order types to manage your trades which helps to manages your life style accordingly


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## el caballo (29 April 2008)

The responses are very helpful.

I am currently with IG Markets, but have not traded international shares with them.  They charge 2 cents per share for brokerage, which is markedly cheaper than trading Australian shares.  IB is .05 cents per share, but I am not keen to wire my money overseas to them.  IG also have very good and free charting.

Given that US shares have bigger ranges, better liquidity and lower brokerage, the only disadvantage I foresee is the time zone.  I think this can be overcome by adopting a start of and end of day approach (currently for Melbourne time, this would entail  being awake 11.30pm-12.30am for the first hour, and then a 5.30am to assess positons prior to the close).

I will start with small position sizes to test the efficacy of trading US shares.  This could complement Australian shares very well.

Thanks,

Greg


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## Trembling Hand (29 April 2008)

el caballo said:


> IB is .05 cents per share, but I am not keen to wire my money overseas to them.  IG also have very good and free charting.




It doesn't go over seas with IB you wire it to a Sydney Citi Bank account. The IG charting is without volume and is a bucket shop. Cannot see how they can be compared 



el caballo said:


> Given that US shares have bigger ranges,




Do they what evidence do you have for this??


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## IFocus (29 April 2008)

el caballo said:


> They charge 2 cents per share for brokerage, which is markedly cheaper than trading Australian shares.  IB is .05 cents per share, but I am not keen to wire my money overseas to them.  IG also have very good and free charting.Greg




Suspect slippage will be a much bigger issue with IG if MM model rather than brokerage cost with IB.


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## RobinHood (29 April 2008)

Go IB. I know a few people with them, very good.

I'm currently with MB Trading(I would've gone IB, but they only allow people over 21 to use margin). MB is also quite good. You can $2 round-trip.

Data/charting: Telechart highly recommended, about $30 a month. Solid charts, scanning, lists etc etc


Abit of a pain in the ass if you want to perfect your entries because you'll have to be up very late. But this should not be a problem if you can work EOD, just keep in mind you may have to stay up in order to enter stops.


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## el caballo (29 April 2008)

Trembling Hand said:


> It doesn't go over seas with IB you wire it to a Sydney Citi Bank account. The IG charting is without volume and is a bucket shop. Cannot see how they can be compared
> 
> 
> 
> Do they what evidence do you have for this??





Hi TH,

Simply that many shares in the USA are > $20, hence in dollar and cent terms their ranges will be greater than most Australian shares, which are typically below $20.   

Thanks for the pointer on IB.  I'll check it out.


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## eric341 (4 May 2008)

RobinHood said:


> Go IB. I know a few people with them, very good.
> 
> I'm currently with MB Trading(I would've gone IB, but they only allow people over 21 to use margin). MB is also quite good. You can $2 round-trip.
> 
> ...





Does that mean you can be under 21 to trade futures with MB?


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