Looking for online broker

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Old Sep 1, 2015, 10:26am   #1
 
1 Posts
Joined Sep 2015
Looking for online broker

Hello,

I reside in the UK and am looking to start investing but don't really know which online broker to choose.

Here are some facts about me and my circumstances:
  1. My style of trading will consist of a mix of swing and buy & hold; definitely not interested in day trading for starters but not ruling it out entirely later on, as and if I get more fluent in reading and feeling the market.
  2. Given the point above, I should really avoid brokers that charge swap/rollover fees, which, if I understand it correctly, includes all CFD-type brokers; is this correct?
  3. Will be initially investing with a low 5 figures in EUR.
  4. Financial instruments interested in include stocks initially but with a view to rapidly progressing to ETF and index funds.
  5. Ideally, would like access to the US market, in addition to the UK's.

Questions:
  1. Given the above, which online broker would you recommend?
  2. I have opened an account with TD Direct Investing (an offshoot of the American
    TD Ameritrade). Are they a good broker to start investing with? (it seems they allow trading of ETFs online)

Hopefully the more enlightened folks on this forum will be able to point me in the right direction!
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Old Sep 7, 2015, 8:43am   #2
Joined Sep 2013
Quote:
Originally Posted by determinus View Post
Hello,

I reside in the UK and am looking to start investing but don't really know which online broker to choose.

Here are some facts about me and my circumstances:
  1. My style of trading will consist of a mix of swing and buy & hold; definitely not interested in day trading for starters but not ruling it out entirely later on, as and if I get more fluent in reading and feeling the market.
  2. Given the point above, I should really avoid brokers that charge swap/rollover fees, which, if I understand it correctly, includes all CFD-type brokers; is this correct?
  3. Will be initially investing with a low 5 figures in EUR.
  4. Financial instruments interested in include stocks initially but with a view to rapidly progressing to ETF and index funds.
  5. Ideally, would like access to the US market, in addition to the UK's.

Questions:
  1. Given the above, which online broker would you recommend?
  2. I have opened an account with TD Direct Investing (an offshoot of the American
    TD Ameritrade). Are they a good broker to start investing with? (it seems they allow trading of ETFs online)

Hopefully the more enlightened folks on this forum will be able to point me in the right direction!
Don't know if you're considering offshore brokers but I can recommend you Oanda, Нotforex or FXCM, all of the them provide access to US and EU stocks (through CFD's)
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Old Sep 9, 2015, 1:23pm   #3
 
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Joined Jul 2013
Quote:
Originally Posted by gerryg View Post
Don't know if you're considering offshore brokers but I can recommend you Oanda, Нotforex or FXCM, all of the them provide access to US and EU stocks (through CFD's)
Hello
I use this list broker interest, it is a very good broker for new traders. It offers good platform and tools.
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Old Sep 10, 2015, 6:30pm   #4
Joined Oct 2014
Keep looking, FXCM are facing bankruptcy for a second time. Beware.
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Old Sep 10, 2015, 8:51pm   #5
 
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Joined Jun 2009
Quote:
Originally Posted by arigoldman View Post
Keep looking, FXCM are facing bankruptcy for a second time. Beware.
Hi Ari,

As Mark Twain might have said, "The reports of my death have been greatly exaggerated."

FXCM is not insolvent, has not filed for any form of bankruptcy, and is in compliance with all regulatory capital requirements in the jurisdictions in which we operate. It's worth noting that despite the events of January 15th, our capitalization remains at levels similar to before the SNB event: http://bit.ly/10Pq5FJ

Additionally, all of our regulated entities except the US provide clients with segregated funds.

All of our global client base in our regulated entities minus US clients would be protected under a bankruptcy. Our UK regulated entity through the FSCS even offers clients 50,000 per person in protection. Canada has similar insurance for retail traders of up to $1 million CAD.

And for US traders, below are the latest capital figures of our US entity compared to all other US-regulated forex brokers (RFEDs) as reported to the CFTC.

Click the image to open in full size.

The column that says "Total Amount of Retail Forex Obligation" shows the amount of money retail traders have on deposit with FXCM US which is over 50% greater than what is on deposit with the number 2 forex broker in the US.

Our customer equity grew by $68 million or 10% last quarter. While $47 million of that increase was due to our acquisition of CitiFXPro, the remainder was organic. It's a strong vote of confidence that Citibank chose FXCM for its customers when they decided to exit the business in June.
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Old Sep 12, 2015, 5:44pm   #6
Joined Oct 2014
Hi Jason,

Thank you for your broad explanation. I see clearly that FXCM looks stable by those figures. Don't get me wrong, i like FXCM and would be happy to see them thrive, but if you look at FXCM stock price and market capital, it's declining daily. How would you explain that?

To me this means you lost people's trust and they don't want to put their money in FXCM. Current stock price is 0.89 (down 4.50%) and mkt cap 49.81m. Compare for example with IB - stock price 38.36 (up 0.45%) mkt cap 2.42b.

Please tell the truth that you were facing bankruptcy after Jan 15 but Leucadia saved FXCM by injecting 300m. You cannot live on that forever. I dealt with FXCM's CS and i can say with proofs that they make FXCM look like an absolute scam that wants to steal your hard earned money.

Truth is you are all scared for your jobs. I'd be scared too. And although deposits are guaranteed in case of bankruptcy it could take years to refund your clients and you know it. Come on, Jason, i'm in this game for long enough to know a sinking boat when i see one. $426.8 net loss for the first quarter. I cannot ask you to be honest, because honesty can kill you in this business. Just don't mislead others. Again, my best to FXCM and Mr. Drew Niv, i hope he finds a way to bring FXCM back on the top where it belongs.
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Old Sep 13, 2015, 5:14am   #7
 
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Joined Jan 2009
Hi,

Just for you to check it out. In case you are interested in futures markets please visit: https://www.cannontrading.com/

Please do your DD.

Take care.


Quote:
Originally Posted by determinus View Post
Hello,

I reside in the UK and am looking to start investing but don't really know which online broker to choose.

Here are some facts about me and my circumstances:
  1. My style of trading will consist of a mix of swing and buy & hold; definitely not interested in day trading for starters but not ruling it out entirely later on, as and if I get more fluent in reading and feeling the market.
  2. Given the point above, I should really avoid brokers that charge swap/rollover fees, which, if I understand it correctly, includes all CFD-type brokers; is this correct?
  3. Will be initially investing with a low 5 figures in EUR.
  4. Financial instruments interested in include stocks initially but with a view to rapidly progressing to ETF and index funds.
  5. Ideally, would like access to the US market, in addition to the UK's.

Questions:
  1. Given the above, which online broker would you recommend?
  2. I have opened an account with TD Direct Investing (an offshoot of the American
    TD Ameritrade). Are they a good broker to start investing with? (it seems they allow trading of ETFs online)

Hopefully the more enlightened folks on this forum will be able to point me in the right direction!
__________________
Markets are living entities in constant changeľand the key to trading survival is to learn to recognize change and adapt. If you use rigid, systematic trading rules, blindly applied to all market conditions, you will not survive as trader. By: Reza Dilmaghani
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Old Sep 15, 2015, 12:39am   #8
 
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Joined Jun 2009
Quote:
Originally Posted by arigoldman View Post
Thank you for your broad explanation. I see clearly that FXCM looks stable by those figures. Don't get me wrong, i like FXCM and would be happy to see them thrive, but if you look at FXCM stock price and market capital, it's declining daily. How would you explain that?
Hi Ari,

The stock price is a reflection of shareholder value as a result of the Leucadia loan. While I can't personally comment on it beyond citing info that's already publicly available, below is an excerpt from a LeapRate article:

"most of the overall writeoff/loss is non cash and non operational, and has nothing to do with FXCMs operations and corporate health, but rather with accounting charges FXCM needs to take due to US GAAP accounting rules thanks to the future benefit that FXCM gave up to Leucadia."

The terms of the Leucadia loan impact FXCM shareholders, not FXCM account holders. I can't comment on our stock further, but you're welcome to contact our Investor Relations department with any related questions: http://bit.ly/1SEYg7W
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Old Sep 15, 2015, 9:40am   #9
Joined Oct 2014
Hi Jason,

tell that to Alpari.
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Old Sep 18, 2015, 2:31am   #10
 
3 Posts
Joined Mar 2015
haha it seems like off topic there... guys lets just answer the question of the initial poster LOL.
but all is good


Determinus, if many brokers to choose from if you ask which one is best, many have their pros and cons. Most importantly it is up to you to see which one suites you.
For starters start with a well REGULATED broker, also make sure to check their regulatory body for the company's info.

Personally recommend to check brokers that are regulated by the following:
FCA, ASIC, NFA


let me know if you would like to know how to check the regulators. I came across many traders that do not know how to check.

Cheers!
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Old Sep 23, 2015, 5:23pm   #11
Joined Oct 2014
Regulations are a must, indeed. You would want an ENC broker, so you just have to check online for broker reviews.
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Old Sep 26, 2015, 2:59pm   #12
 
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5 Posts
Joined Sep 2015
Quote:
Originally Posted by gerryg View Post
Don't know if you're considering offshore brokers but I can recommend you Oanda, Нotforex or FXCM, all of the them provide access to US and EU stocks (through CFD's)
Agreed, for me, London Capital Group quite good also
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Old Oct 1, 2015, 11:57am   #13
Joined Sep 2015
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Originally Posted by vitaminC View Post
haha it seems like off topic there... guys lets just answer the question of the initial poster LOL.
but all is good


Determinus, if many brokers to choose from if you ask which one is best, many have their pros and cons. Most importantly it is up to you to see which one suites you.
For starters start with a well REGULATED broker, also make sure to check their regulatory body for the company's info.

Personally recommend to check brokers that are regulated by the following:
FCA, ASIC, NFA


let me know if you would like to know how to check the regulators. I came across many traders that do not know how to check.

Cheers!


Hi

How do i check the broker regulators

Many thanks

Joe
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Old Oct 4, 2015, 9:14pm   #14
 
malaspina's Avatar
Joined Jan 2009
If you need to check a futures broker you can go to:

https://www.nfa.futures.org/basicnet/
__________________
Markets are living entities in constant changeľand the key to trading survival is to learn to recognize change and adapt. If you use rigid, systematic trading rules, blindly applied to all market conditions, you will not survive as trader. By: Reza Dilmaghani
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Old Oct 4, 2015, 9:33pm   #15
 
7 Posts
Joined Sep 2015
Quote:
Originally Posted by vitaminC View Post
haha it seems like off topic there... guys lets just answer the question of the initial poster LOL.
but all is good


Determinus, if many brokers to choose from if you ask which one is best, many have their pros and cons. Most importantly it is up to you to see which one suites you.
For starters start with a well REGULATED broker, also make sure to check their regulatory body for the company's info.

Personally recommend to check brokers that are regulated by the following:
FCA, ASIC, NFA


let me know if you would like to know how to check the regulators. I came across many traders that do not know how to check.

Cheers!
and I'm definitely one of those and would like to know how to check. I'm fairly new to trading, like straight out the box, and hoping to get some helpful tips on this forum.
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