Highly recommended brokerage

trimixdvr said:
Looking for a company with a good rep, I am in th US.....thanks
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I can advise from first hand experience those to avoid, which are Saxo Bank and its white label partners, E*Trade UK, RCG Trader (USA & UK), efuturesFX (USA), and Sonray (Australia). Here's why, quoting an earlier post on the topic:

Interesting: post above describes similar results in our account with Saxo Bank, using the Saxo Trader, which is the E*Trade platform (white labeled to E*Trade UK by Saxo). Our stops were always filled instantly; there were never any "misquotes" or "no liquidity" errors to save our position and spare us the fill on the stop order, i.e., the loss. But four times, Saxo refused to fill our limit orders when prices hit and breached the limit price. It excused the refusals to honor the orders by saying the prices were "misquotes."

"Misquotes" or "insufficient liquidity," it's all the same -- the only trades never filled, and the only prices ever incorrect, are the ones profitable to the customer; prices profitable for the house as the counterparty (for Saxo or E*Trade) are always right. I wonder what explains the difference?
 
The problems with IB are also their advantages:
- they are electronic exchange only (no floor only commodities trading)
- the (way) preferred access method is internet trading
- they are low cost, fast and give you FREE data if you do $30 commissions a month, $10 if you dont.
- they don't do hand holding very well and their customer support is their weakness.

Also, bulldozer doesnt like them, but some say thats an asset.

There are quite a lot of people at elite or here who will answer your questions if you have problems. Also IBs web based help is (in my experience) quite good.

So if you are a newbee but will have help or are not doing complex things then IB is a good brokerage. But if you are new and have no helpful friends or are a complete idiot (not implying that you are) then you should probably go somewhere else :)

Best of luck wherever you go.


Edit: And imo, you can do far worse than SierraCharts for your charting with IB data.
 
Interactive Brokers have added a load of new features - charts, DOMs etc to their platform in recent months which seems to have led to a few problems. Overall, though, I have been using them for over 2 years and have found them very reliable.
 
(y)Hello, I have traded with sonray.com.au for one year, with very little trouble. I would certainly recommend them for CFD trading. They are professional and regulated by the Australian SEC.
 
trimixdvr said:
Looking for a company with a good rep, I am in th US.....thanks
Click to expand...

I've looked into a lot of brokers, and I think it often comes down to how many features you need and how important low commissions are to you. If you just want a basic website broker with cheap commissions per trade, then good possibilities include Sogotrade ($3/trade), Just2Trade ($2.50/trade), and Optionshouse ($2.95/trade).

If instead you want to do direct access trading and just pay per share then InteractiveBrokers ($0.005/share all-in or $0.0035/share +ECN fees/rebates) and Lightspeed Trading ($0.00395/share +ECN fees/rebates) are great ones to look into. Direct access trading tends to get expensive, though, if you trade large share sizes and/or lower-priced stocks.

If you have more of a need for guidance and customer service, or you want much better software than the cheaper website-only brokers offer, then TD Ameritrade or Scottrade can be better. If you trade a lot of volume you might be able to negotiate your commissions down as well. They can actually wind up being a lot cheaper than the direct access brokers if you trade large share size and buy and sell your full positions all at once.
 
Doom2099 said:
(y)Hello, I have traded with sonray.com.au for one year, with very little trouble. I would certainly recommend them for CFD trading. They are professional and regulated by the Australian SEC.
Click to expand...
:oops: I made a mistake sonray has gone into bankruptcy. Ignore this recommendation. Instead try saxobank.com.
 
Yes SOnray has gone belly up and taken people's money with it
They were Saxo bank white label!
cAN YOU TRUST sAXO BANK? (over IB) all market maker so you are trading against them!
Also in their home country what are the Client money safety rules?
IMHO as on today ASIC rules does not protect client money safety in Australia specially with OTC / CFD providers it sucks
It is a ticking time bomb:mad:
 
New Zealand ???

I'd like to have my orders routed via Mars- does anyone know of a good Martian outfit?
 
Thank you very much for the inputs and as well for the :)

nine said:
But if you are new and have no helpful friends or are a complete idiot (not implying that you are) then you should probably go somewhere else :)
Click to expand...

I'm looking at different expert advisor at the moment and I new in the business. How much return on a monthly base is usual for small risk, is 10% a lot?
 
born2winfx said:
Thank you very much for the inputs and as well for the :)



I'm looking at different expert advisor at the moment and I new in the business. How much return on a monthly base is usual for small risk, is 10% a lot?
Click to expand...


You are going to be very disappointed.
 
Thanks pboyles, hope not, new year new game :)
I read somewhere an article about 10% for the last 6 months. 10% sounds too great, you're right! Don't know where it was, will look for it and post it afterwards here.

Happy new year and happy success!
 
born2winfx said:
Thanks pboyles, hope not, new year new game :)
I read somewhere an article about 10% for the last 6 months. 10% sounds too great, you're right! Don't know where it was, will look for it and post it afterwards here.

Happy new year and happy success!
Click to expand...

Remember that when you read all these claims there is no proof that any of it is true. All these sorts of vendors lie through their teeth to get your money, dont believe a word they tell you.
 
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