Is it a good idea to open an Ameritrade account just for TOS?

UncreativeUsername · Dec 21, 2015

I'm thinking of opening an account at Ameritrade to make full use of the Think or Swim platform and open an account with a better (cheaper) broker to do the actual trading. Is it a good idea? Is there any other good chart software with programmable scans that can be used for free?

Hittfeld · Dec 22, 2015

I doubt they will open an account for UK residents

hhiusa · Dec 25, 2015

UncreativeUsername said:
I'm thinking of opening an account at Ameritrade to make full use of the Think or Swim platform and open an account with a better (cheaper) broker to do the actual trading. Is it a good idea? Is there any other good chart software with programmable scans that can be used for free?

http://www.tddirectinvesting.co.uk/

Even if you cannot open an account from the UK, which I do not know why you could not, then you could still form a Delaware LLC for $500 in two hours regardless of where you are. Corporations and limited companies are issued an EIN by the IRS, which is just as good as a SSN for opening an account as if you were an American. LLCs are not required to hold board meetings and are effortless to maintain. Directors and board members of an American corporation or limited company need not be American residents. You can pay registered agent services in Delaware to a multitude of companies for about $180/year and that solves that problem. Additionally, a lawyer is not required to incorporate or form an LLC.

UncreativeUsername · Dec 25, 2015

hhiusa said:
http://www.tddirectinvesting.co.uk/

Even if you cannot open an account from the UK, which I do not know why you could not, then you could still form a Delaware LLC for $500 in two hours regardless of where you are. Corporations and limited companies are issued an EIN by the IRS, which is just as good as a SSN for opening an account as if you were an American. LLCs are not required to hold board meetings and are effortless to maintain. Directors and board members of an American corporation or limited company need not be American residents. You can pay registered agent services in Delaware to a multitude of companies for about $180/year and that solves that problem. Additionally, a lawyer is not required to incorporate or form an LLC.

Thanks for that suggestion. So far I've sent my documents to Ameritrade by ordinary mail (as the W8-BEN form can't be faxed or emailed), and I do believe they open accounts for us, but I'll have to wait, since the package seems to be stalled at the airport. Do you know about any other chart software that is free and has customisable scans, just in case I don't manage to get approved or anything? I'm just looking to do paper trading at the moment.

malaguti · Dec 25, 2015

UncreativeUsername said:
Thanks for that suggestion. So far I've sent my documents to Ameritrade by ordinary mail (as the W8-BEN form can't be faxed or emailed), and I do believe they open accounts for us, but I'll have to wait, since the package seems to be stalled at the airport. Do you know about any other chart software that is free and has customisable scans, just in case I don't manage to get approved or anything? I'm just looking to do paper trading at the moment.

try pro real time

hhiusa · Dec 25, 2015

UncreativeUsername said:
Thanks for that suggestion. So far I've sent my documents to Ameritrade by ordinary mail (as the W8-BEN form can't be faxed or emailed), and I do believe they open accounts for us, but I'll have to wait, since the package seems to be stalled at the airport. Do you know about any other chart software that is free and has customisable scans, just in case I don't manage to get approved or anything? I'm just looking to do paper trading at the moment.

If you are 26 or under you can open an account with Interactive Brokers for $3,000. You only meed to fund the account, you do not actually have to trade and they will give you your credentials for a paper and live trading account.

IB also has multicharts, which allows you to charts multiple instruments simultaneously. IB is my first choice.

UncreativeUsername · Dec 25, 2015

malaguti said:
try pro real time

Thanks, that's just what I was looking for.

UncreativeUsername · Dec 25, 2015

hhiusa said:
If you are 26 or under you can open an account with Interactive Brokers for $3,000. You only meed to fund the account, you do not actually have to trade and they will give you your credentials for a paper and live trading account.

IB also has multicharts, which allows you to charts multiple instruments simultaneously. IB is my first choice.

Thanks. IB sounds like a good option; I'll look into it when opening an account for real trading. First I just want to check out my strategies on paper trading.

ostradegroup · Dec 27, 2015

ToS from TDAmeritrade is a world-class stocks trading platform.

I develop Origin Balance for analysis of stock statistics (prices, etc.) for Windows platform. It is an invaluable stocks trade/investment tool along with ToS from TDAmeritrade. Check out group Origin Balance on Facebook and LinkedIn.

Adamson · Jan 4, 2016

hhiusa said:
If you are 26 or under you can open an account with Interactive Brokers for $3,000. You only meed to fund the account, you do not actually have to trade and they will give you your credentials for a paper and live trading account.

IB also has multicharts, which allows you to charts multiple instruments simultaneously. IB is my first choice.

There is an option for the paper trading without funding. TWS platform.
But it is really horrible in my opinion. Uncomfortable and user unfriendly.

hhiusa · Jan 4, 2016

Adamson said:
There is an option for the paper trading without funding. TWS platform.
But it is really horrible in my opinion. Uncomfortable and user unfriendly.

What is uncomfortable and user unfriendly about it? I do not choose a brokerage firm based upon its paper trading capabilities. If you did not fund your account, you were using a platform with far less features. If you actually look around the site, you would notice that they tell you as much.

Is it a good idea to open an Ameritrade account just for TOS?

UncreativeUsername

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Hittfeld

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hhiusa

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UncreativeUsername

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malaguti

hhiusa

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UncreativeUsername

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ostradegroup

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