Australian (ASX) Stock Market Forum

Wanted: Good US Online broker

Jump to new
Q

Qlds007

Joined
29 December 2004
Posts
11
Reactions
0
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
 
Re: Wanted Good US Online broker

money tree said:
Interactive Brokers
Click to expand...

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
 
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.
Click to expand...

Hope this helps ya.
 
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
Click to expand...


try Brown Co. or Ameritrade...
I prefer Ameritrade...
 
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?
 
Re: Trading USA stocks

Snake Pliskin said:
Wayne,

Can anyone regardless of location start an account with them?
Click to expand...

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.
 
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?
 
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?
Click to expand...

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
 
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
Click to expand...

What are the hoops?

How long does it take to get an account up and running ready to trade with?
 
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?
Click to expand...
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?
Click to expand...
Probably somewhere between 1-2 weeks

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

Similar threads

G
Looking for a good online forex trading broker
Replies
0
Views
4K
graexx
G
B
Advice on a stock broker, anyone?
Replies
3
Views
5K
christianrenel
C
S
CMC Markets vs. Bell Direct - New online trading a/c
2 3 4
Replies
60
Views
67K
PinguPingu
PinguPingu
Lone Wolf
Best demo account?
Replies
18
Views
15K
michaelananya
michaelananya
I
Newbie needs help: which online Aussie broker?
Replies
6
Views
7K
Stormin_Norman
S
Top