Exchange Fees

knorrie

Active member
148 1
iainpw - yes only one side not the round trip. Even if you don't trade in a month, but keep the Silver plan switched on, they only levy a $20 inactivity fee, which is less than the benefit you get.

MyBroker have also recently announced some major changes planned in the coming months, but haven't released many details yet. Not long ago they introduced CFDs, they were always pretty good for options and are apparently about to add a spreadbetting service. I hope they also reduce their commissions. Worth keeping an eye out for anyway.

KenN
 

iainpw

Member
89 0
Knorrie,
I'll look into the Mybroker side of things - I presume that you can still only track 20 shares realtime with Mybroker, unless you pay extra for more tickers.
I'll try and find out more about them before i decide what to do.

Iain
 

knorrie

Active member
148 1
Yes there is a 20 ticker limit in the MyTrack application and many other 3rd party applications using MyTrack, but not for example if you SierraChart - where the limit is 500 - and possibly also AIQ.

I've sent you a PM with more details about all this, if anyone else is interested just say so and I'll post it here.

KenN
 

theknifemac

Well-known member
340 0
knorrie said:
Yes there is a 20 ticker limit in the MyTrack application and many other 3rd party applications using MyTrack, but not for example if you SierraChart - where the limit is 500 - and possibly also AIQ.

I've sent you a PM with more details about all this, if anyone else is interested just say so and I'll post it here.

KenN

Ken, I'm interested

Cheers

Stew
 

knorrie

Active member
148 1
OK Stew, here's what I sent to Iain. BTW if anyone knows what the ticker limit is with the Silver plan on AIQ, please let me know.

What the 20 ticker limit refers to is the maximum number you can continuously monitor at the same time, but there are exceptions (bear with me). MyTrack covers pretty much every listed UK stock, not just the FTSE 350, so you can select any 20 from these. For example, the MyTrack application has a monitor or watchlist in the main window. With the Silver plan, you can add a maximum of 20 tickers to this list, plus one extra for immediate quotes.

However, this isn't the end of the story. You don't have to just use MyTrack - I noticed on another thread you want to use the MyTrack feed into Tradestation. I'm pretty sure this means you have to enable the MyTrack SDK, which is an interface that many 3rd party trading applications use. Unfortunately, this costs $99 per month and the 20 ticker limit does strictly apply (it used to be $25 but they put it up at the end of last year).

But there are other options. SierraChart is a very popular, low cost charting app (and you can get a discount at the T2W shop too), which has a special interface to MyTrack. This doesn't use the SDK, costs $25 per month, and overrides the 20 ticker limit - I think it's actually 500. Have a look at:

www.sierrachart.com

However, the main reason I keep my MyBroker/MyTrack account open is that they also have a complete charting/trading package called AIQ. I was using this about 15-18 months ago and I think it is superb. It's got the lot - real-time/historical US/UK/Eur datafeed and charts, portfolio tools, backtesting, sample systems, market timing reports, correlation analysis yada yada. Many hardcore day-traders prefer the charting in SierraChart, but for me their real-time alerts tool, which lets you have multiple charts and continually scans for system setups, trendline breaks whatever, is the dogs b*ll*ks.

AIQ costs $59 per month - it's basically a rental scheme, and you get regular software updates included. When you think that to use Sierra with MyTrack costs $25 just for the data, and that doesn't include the cost of the app £60 pa or whatever, and you get all this for another $34 pm, it's a good deal. Plus you can just turn the thing on or off on a month by month basis, and don't pay if you're not using it (which is me at the moment, but I will resume using it if I get the chance to spend more time short term trading).

Now I can't confirm this, but I don't think AIQ imposes the 20 ticker limit either. Certainly I had a watchlist up with about 80 tickers running while I was using it, and it didn't complain.

Anyway they have a trial scheme, have a look at the UK site:

www.aiqsystems.co.uk

Give Bob Debnam, the UK rep a call if you're interested, he's very helpful and can probably tell you about the Silver plan limit with AIQ. He also provides an e-mail UK EOD data cleanup service for MyTrack (not just spikes/errors, but splits/consolidations/renames etc.)

BTYW you need to add VAT to all prices I'm afraid :)

KenN
 

iainpw

Member
89 0
Ken,
Thanks for you time and effort you have put into explaining the queries for me - much appreciated.
I know more now - but it still doesn't make it any easier to decide what to do.

Cheers
Iain
 
 
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