As most of us all know HSBC have been taken over by Etrade. Hm. i've just noticed an ad from commsec today offering "exclusive professional trader package for HSBC stockbroking and margin lending customers". As i have only ever traded with the HSBC stock broking i am wondering which one to choose now? and what is the ups for "professional trader status" in commsec?
If anyone has any information about this, i will much appreciate it.
Hypnotic :confused:
GreatPig
11th-June-2006, 08:57 PM
Hmmm... everything will be hunky dory and not affect my trading, so they say.
Last time an online broker told me that I got screwed! (with NAB)
GP
Happy
11th-June-2006, 09:03 PM
For starters funds will be only availabe after cleared - that means after 3 days - working days
cuttlefish
11th-June-2006, 09:08 PM
not sure what platform you got to trade with with hsbc. I've got no experience with etrade's tools though reading their pages on options sounds like they've got more support for options strategies than comsec has in pro trader.
protrader 1 gives live market depth, live share course of sales including condition codes, straight through processing on stock and eto orders, live intraday charting, standard charting analysis tools, live?(not sure I believe this) options prices and depths, eto course of sales.
I downloaded the newer protrader (protrader two?) but noticed that it doesn't seem to have condition codes on options course of sales data and overall I found it pretty annoying and prefer the original protrader.
on the etrade site seemed to support multiple leg option strategies which I haven't been able to find in protrader. The 'new' protrader has an option theoretical pricing calculator and a fair bit more in the way of charting support but its also missing things that the 'old' protrader has so I'm sticking with the old one for now.
GreatPig
11th-June-2006, 09:24 PM
For starters funds will be only availabe after cleared
Even if still using the HSBC settlement account?
That'll suck if so.
GP
Happy
13th-June-2006, 09:16 AM
I only assume, but why would they want to give you 3 days interest free loan if they were no longer making money from brokage?
GreatPig
13th-June-2006, 09:32 AM
But that should be balanced on the buy side, where they take the funds straight away but don't have to settle until T+3.
If funds of sale aren't available until cleared, then that should be balanced by allowing purchases without the necessary funds available based on the user having 3 days to pay.
Would make it really hard to keep track of your account balance though.
Cheers,
GP
Happy
14th-June-2006, 09:40 AM
Is HSBC site down today?
GreatPig
14th-June-2006, 01:42 PM
Was, but back up before opening.
GP
Happy
14th-June-2006, 03:43 PM
Wander if we have first HSBC to E*T glitches, and how painful will be transition?
hypnotic
14th-June-2006, 11:25 PM
Wander if we have first HSBC to E*T glitches, and how painful will be transition?
It would be very very painful...
just hope everything is okay.. (fingers crossed)
so i guess i don't have to change to etrade.... right?
