Wanted: Good US Online broker

[cogidubnus]

Thank myou for help topics

 

[professor_frink]

Re: Wanted Good US Online broker

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.

 

[It's Snake Pliskin]

Thanks Wayne and Professor Frink.

 

[hissho]

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

thanks

 

[hissho]

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

has anyone used thinkorswim? any comments/feedback?

thanks a lot

 

[wayneL]

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.

 

[Dr Stock]

Found this on another stock forum

www.zecco.com

due to launch in october.

Free trading. No brokerage whatsoever.

 

[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?

 

[wayneL]

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!

 

[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

 

[Out Too Soon]

Has anyone tried Zecco yet???

 

[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?

 

[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.

 

[lancedefrance]

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?

 

[professor_frink]

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.

 

[lancedefrance]

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

 

[professor_frink]

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.

 

[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.

 

[professor_frink]

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?

 

[bowser]

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?