Looking for online broker

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Sep 1, 2015
1
0
11
#1
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!
 

gerryg

Active member
Sep 9, 2013
916
8
28
#2
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)
 
Oct 2, 2014
626
10
28
#4
Keep looking, FXCM are facing bankruptcy for a second time. Beware.
 

Jason Rogers

Well-known member
Jun 17, 2009
2,766
92
58
www.fxcm.com
#5
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.


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.
 
Oct 2, 2014
626
10
28
#6
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.
 

malaspina

Active member
Jan 11, 2009
114
1
28
www.priceandvolumetrading.com
#7
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.


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!
 

Jason Rogers

Well-known member
Jun 17, 2009
2,766
92
58
www.fxcm.com
#8
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
 
Mar 13, 2015
3
2
13
#10
haha it seems like off topic there... guys lets just answer the question of the initial poster LOL. :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!
 
Sep 29, 2015
10
0
11
#13
haha it seems like off topic there... guys lets just answer the question of the initial poster LOL. :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
 
Sep 30, 2015
7
0
11
#15
haha it seems like off topic there... guys lets just answer the question of the initial poster LOL. :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.
 
Sep 30, 2015
7
0
11
#16
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!
my cache all list when choosing a broker would be; are they regulated, longstanding, widely recommended by people making an actual living through trading and not just by uncle Tito, and are they up to their eyeballs in debt?
 
Sep 30, 2015
7
0
11
#17
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!
when choosing an online broker, you should also make sure they have friendly and helpful customer service, or you will grow grey hair sooner than you anticipated.
 
Sep 30, 2015
7
0
11
#18
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.
This was interesting
 
Sep 30, 2015
7
0
11
#19
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!
or you could also try these guys . more than a decade in the business and over a million clients. I'm thinking of going with them myself. I've read in other forums that they are a safe bet. other firms like Interactive Brokes require an initial investment account of 10,000USD. don't know about you but I don't have that much money to risk. All the best!
 
Oct 26, 2015
23
0
11
#20
all great points. To check the regulations the best way is to check the regulator's website and search the registration numbers. Be careful, some brokers will post regulation numbers when they have actually lost/withdrawn their status, this could be an oversight of website maintenance, or the oversight could be the excuse for trying to capitalize on client's trust/ignorance in checking up on them. In addition under the regulation you can find the exact names of the business and some of their affiliates. Ensure these match up to the website/person you are talking to. I would also run a whois: www.brokerwebsite.com search to ensure they are indeed who they say they are.