Progressing from Spreadbetting

schoe

Well-known member
343 3
I am thinking of moving away from spreadbetting and trading E-Mini's, stocks and forex. Which is the simplest route to take ?
I have had an account for a short period with interactive brokers in the past but found it so complicated I struggled to work out how to even place the trades! Am I correct in thinking you can attach TSIM to make the process simpler for techno retards like myself ?
What are the other options. I don't need charting just want something simple like CMC (deal4 free) who I use now ,but want to pay narrower spreads and not have the bias. Telephone orders are also an advantage as I sometimes open/close a trade at work and have no internet access when in the office. (i use a pager and p900 to keep in touch)

Thanks Mark.
 

JonnyT

Senior member
2,560 22
Hi Mark,

Direct access through IB is the way. You could always autotrade using 'Spot On'

JonnyT
 

Naz

Experienced member
1,391 24
Hi Mark,

Its nice to hear from someone who wants to move on.With reference to some of your points.
I can recommend etrade.co.uk and directaccesselite.com for trading US stocks.Both have decent telephone back up to close orders.IB are cheap but i wouldn't want to phone them up and close a position.
Both their platforms are simple enough to use.You can either use them as an order execution platform or delve in deeper to read mm moves and anticipate chart moves before they happen. Either way you'll be paying narrower spreads and not have the bias,which you said you wanted.

Naz
 

Naz

Experienced member
1,391 24
I'm completely against the crowd here,but these are some thoughts that often go through my head.

Unless they've changed IB give bad telephone back up.So what happens when everything goes wrong my stock is tanking and i need to get out fast by telephone? How much could that cost?

IB have great trading rates,but dont Tradestation have the same? if i trade 1000 shares, directaccesselite is cheaper than IB,better platform and better telephone back up.

IB only give cheap rates because they probably get payment for order flow by routing their smart order routings to their own mm,which is TMBR. I very,very rarely see TMBR on the inside bid or ask but thats where IB smart order traders can get filled.Therefore they aren't getting the best fills that i am by working my order in the screen.Every 1c i save by doing this makes me an extra $10 when trading 1000 shares.

When a stock tanks,the ECN's have disappeared and i get in a SOES queue with everyone else to exit the stock.The IB trader will be routed first to its mm,not get the required execution and then be placed in the SOES queue behind me.I'll be out first and in a fast collapsing stock that can save me a lot of money.

Naz
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock