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This is a discussion on Brokers within the Brokerages forums, part of the Commercial category; Hi, I need some advice. I started off trading/investing with an Irish brokerage called Davy. The are a very average ...

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Old May 26, 2016, 4:11pm   #1
Joined Nov 2013
Brokers

Hi,

I need some advice.

I started off trading/investing with an Irish brokerage called Davy.
The are a very average brokerage, would not recommend at all. The are not DMA, and orders placed are done manually if trading on other exchanged outside of UK & Ireland - avoid, unless you want to buy and hold etc.

From here I moved SaxoBank. I am happy so far with SAXO.
- Good platform
- Great execution etc.

I would recommend but the fees for US CFD for too much, 40euro for a round trip.

I am seriously considering transferring my stocks & cash to interactive brokers.

The fees seem unbeatable, but I would like to know you opinion.

Basically what I am looking for is to hold some shares on account (long terms), with dividends reinvested.
& also trade US CFD possibly 5-10 times a week, with level 2 access.

Is interactive brokers a good choice for both scenarios above, long term investing and trading?

Should I open the account in euro or dollar?

Thank you for your time
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Old May 26, 2016, 4:16pm   #2
Joined Jul 2010
You will have to reinvest the dividends yourself but otherwise unbeatable.
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Old May 28, 2016, 6:21pm   #3
Joined Nov 2013
CharlieStock started this thread
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Originally Posted by Trading Spaces View Post
You will have to reinvest the dividends yourself but otherwise unbeatable.

I've downloaded there demo platform. Is it slight outdated & does it take a bit of getting used to?

Also am I right in assuming that to purchase 250 CFD stocks on the NYSE this would cost $2.5 to open and 2.5$ to close?

Are there any other hidden charges?

Thanks
C
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Old Jun 13, 2016, 11:41pm   #4
 
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Joined Jun 2016
Interactive brokers has quite a good reputation however I do not know how trading works there from my own experience. When I am creating a new account I always choose USD, but if you are used to Euro, you can do that as well I suppose (there is not much big of a difference in that)
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Old Jan 4, 2017, 2:17pm   #5
Joined Jan 2006
IB does not require you to open accounts in multiple currencies. Deposit a single currency in an account and when you want to trade a product denominated in another currency, a loan is created which is secured by your deposited currency. If you want to eliminate the loan, you may do so at any time by trading currencies through our IDEAL FX* network or depositing money in another currency. You will find that our currency exchange rates are much better than retail banks or exchange rates offered by the credit card companies. https://www.interactivebrokers.com/en/index.php?f=3185
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Old Feb 21, 2017, 3:51pm   #6
Joined Feb 2016
I guess every broker requires you to open account in one currency and we trade against other currencies.. IMO! Can you provide more information or list some of the brokers that allows multiple currency accounts at the same time.
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Old Feb 21, 2017, 3:53pm   #7
Joined Jan 2006
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Originally Posted by progix View Post
I guess every broker requires you to open account in one currency and we trade against other currencies.. IMO! Can you provide more information or list some of the brokers that allows multiple currency accounts at the same time.
IB Universal Account highlights https://www.interactivebrokers.com/en/index.php?f=3185
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Old Oct 13, 2017, 4:40pm   #8
Joined Apr 2017
Demo performance can support to choose a right broker ? it works really ?
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