InteractiveBrokers VS SaxoBank

This is a discussion on InteractiveBrokers VS SaxoBank within the Brokerages forums, part of the Commercial category; Regardless to commission rates (which I can analyze myself) which one of this is better, given that I will be ...

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Old Dec 25, 2006, 12:35am   #1
 
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Joined Dec 2006
InteractiveBrokers VS SaxoBank

Regardless to commission rates (which I can analyze myself) which one of this is better, given that I will be trading US stocks, with a starting capital of about $ 8-10k and planning to invest in the medium term?
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Old Jun 12, 2007, 7:32pm   #2
Joined Jan 2007
Interactive brokers... SAXO bank is really a CFD and Futures platform.. it does have a dma option which is the one you want but be very careful of CFDs.. Im just a bit uncomfortable with them regarding liquidity issues and the potential for skulduggary because a CFD is a proprietary product, the price of which for the same underlying at the same time varies greatly depending upon which CFD provider you choose.. so all the claims of being a DMA product are not so easily explained... i mean sure just because i can have direct access doesnt mean the prices im getting are necessarily market prices because after all Im not buying stock or futures.. im buying CFDs and that price may vary ..be careful... left me feeling unsure.. took Saxobank 2.5 months to answer my questions regarding this when i pressed them... they still didnt clearly answer my question to 100% satisfaction.. only a final emnail saying yes to everything despite obvious differences between thier prices and that of the real market they initially could not explain... hmmm strange... I smell fish.. and that smell reminds me of spreadbetting companies.. who also by the way offer CFDs.... wake up people.. CFDs= position trading only.. day trading I would avoid.
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Old Jun 21, 2007, 4:34pm   #3
Joined Jun 2007
I wouldnt trade with SaxoBank, they aint really a deserving broker.. they increase spread, there platform stuck many times.. i was with them way earlier.. they are really cheating there clients.
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Old Jun 21, 2007, 5:37pm   #4
Joined Jan 2007
Maxtail

I agree... ever since I started out on this broker quest.. starting with spreadbetting firms.. I have learned a lot and so far to me.. Nearly all of them bar literally a handful are greedy F@#;]+g Ba57485 in my opinion who mislead retail buyers into believing the prices they offer are the prices they get in the market and that simply isnt true.. for example.. any company that claims to offer you a CFDs via a DMA platform is one of those f@987#~ stupid C@#~75 who are trying to bamboozle us into believing we get market prices...... but on closer investigation we now know CFDs are completely Proprietary products (i.e. a CFD price offered by one broker is exactly only based on what they DECIDE.. it IS NOT SET by the MARKET!!!... IF THEY WANT TO MID SESSION THEY CAN SKEW THE PRICES TO LIMIT YOUR GAINS AT MARKET OPENING... SO THE MARKET IS GOING UP BUT THIER PRICES ARE GOING DOWN.. this was exactly my experience in dealing with Saxo bank CFDs.. (and that means also the very expensive ETRADE who white label the very same platform.. PS Etrade trying to charge me £5 for every single order to buy stock.... F@~+ off Etrade... greedy F@}~~:~G B+__}~@:S


FORGET CFDs... FORGET Spreadbettting firms (the worst).. get a simple commission based broker who gives you market prices and thats it! these guys are one of the following:

Options Express (simplicity meets options education..previously a contradiction)
Sink or Swim ( sublime options and stock tool)
Tradestation (astonishing does it all.. My favourite..but only for US markets mainly .. unless U buy thier T200i software and add feeds yourself and port the buy and sell orders through an established outlet )
Interactive Brokers ( probably the best all round for market access and price in diff territories) marvelous)

Unless your blown away this just about covers it apart from tools like Telechart and Esignal.. Proquote and few other add ons working with the above tools


FORGET THE REST

Last edited by Paulds11; Jun 21, 2007 at 5:56pm.
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Old Jun 21, 2007, 5:41pm   #5
Joined Jun 2007
You are absolutely correcy my friend.

i am now happy with STIFX very good customer support.
I am trading with them forex. happy with them.
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Old Jun 21, 2007, 5:55pm   #6
Joined Jan 2007
Maxtail.. looks like I need to put together a list of only the very best brokers who offer good customer support and JUST the market prices!!!!


Theres nothing worse than trading and slowly realising the market you thought you were trading has been skewed by the licentiously Machiavellian broker... dancing and intimidating you down the end of a phone with their ever-so-slightly tone of condescension and reverse snobery.. forgetting that some of their customers are bright enough to be their bosses.. if we wanted the dammed job in the first place..fools.....

man.. you hit my pet hate right on the button with this one.. I apologise for my tone... but I do not apologise for my attack on these charlatans in city suits and their sheep with faux Oxbridge accents that wither to surprise and delay on exceedingly probing questions from us they cant immediately answer and have to seek council before response... REMEMBER they took exams as well.. isnt that a surprise?...
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Old Jun 21, 2007, 5:58pm   #7
Joined Jun 2007
hehe.. very very true.. i am happy with STIFX, and dont think moving from them. I tried Saxo, GFT. but my main call was always good customer support. STIFX serves me right.

Make a list, and post it here. Include STIFX as well, they have good execution and respected support team.
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