Advice sought trading US stocks


5,517 280
I posted the following on the ADVFN Premium BB.. this is the response I got so far. For those interested.

Pigsy - 17 Nov'00 - 22:02 edit

I would be very grateful for advice about US brokers.

I have decided to trade the US markets, and am looking for a good, cheap broker service. My requirements are it's web based, that it allows UK residents to sign up without steep application requirements like $15,000 min acc. and $50,000 net worth.

Also ideally it will let me buy on margin and perhaps sell short or buy options, and free level 2 would be nice. And what about buying UK stocks via a US broker, is this possible (and would you incur stamp duty). I am also interested in CFDs.

Because I have no experience yet of trading the US markets and hope to save money on stamp duty and comission costs, and because I don't meet the minimum requirements of CMC which would have enabled me to make these cost savings. Any advice I would really appreciate.

BTW I am a short term trader, looking to hold for short periods of about 5 days.

Many thanks,

ps. Also I would be very interested in any comments or observations about the US markets compared to the UK markets. The obvious advantages been a more liquid market, cheaper costs and no stamp duty.

Thoroughbred - 17 Nov'00 - 22:08 - 1 of 6

try I first saw it advertised in USA, just applied for it here and it looks good.

KeithB - 18 Nov'00 - 08:30 - 2 of 6

I use Mybroker as part of Mytrack. You can trade in the evening until the USA markets close. They charge $12.95 per trade.

Biffer - 18 Nov'00 - 12:33 - 3 of 6

I use Ameritrade for stocks and options. Very efficient, low funding requirements, low dealing rate ($8 stocks, $8 + $1.75 per lot options) freephone number to the US, deal via internet or phone, ability to trade on margin and short, etc etc.

lumpy - 18 Nov'00 - 19:01 - 4 of 6

Am dealing in Europe (antncipating Euro rebound) but receive several daily financial newssheets from USA - mostly small cap. Will post to Free BB if anyone interested.
For France try - - in French though!

mowgli - 18 Nov'00 - 22:05 - 5 of 6

I use the free time delayed MyTrack just for keeping an eye on stocks that are traded both sides of the pond. Its really neat in that you can have US/UK stocks on the same watch list.

Is there a US type ShareScope on the market for offline work?

Haystack - 19 Nov'00 - 14:49 - 6 of 6 is quite highly rated. I have an account but have not funded it yet. Make sure you get the IRS form from them and sign it. It stops the US taking tax at source.

David Cobbe

Junior member
34 1
Actually, I was going to say AB Watley. Call Bill Arnold, see if he can help out. You might get a deal like the first "n" trades free or something similar...

Worth a shot.