Cheap Brokers?

[ivanyo]

Hey guys,

I was wondering which companies are respectable and provide a good service with decent prices. Commsec atm is making me broke because of my day-trading.

HINT - to the new guys, do not day trade with commsec because brokerage will own you!

 

[tech/a]

IB Interactive brokers.

There is no better.
$6 in and out and has just announced most Australian stocks available for shorting.

Serious traders need a serious platform--this is it.

 

[mrchips]

Hi,

I am new to trading and have been looking for a good broker to get started..

How is their service, do you have level2 live data and charts?

Thanks for any help ..

 

[skyQuake]

Hi,

I am new to trading and have been looking for a good broker to get started..

How is their service, do you have level2 live data and charts?

Thanks for any help ..

Decent service. Much better than commsuc or such when sh$t hits the fan.
Level 2 data of course, their in-built charts suck though. From memory most just use ninjatrader to chart with IB data

 

[VSntchr]

Ive been on the browse for a new broker also. Only thing keeping me with commsec is 5.5% on my cash. Which is a considerable amount of my portfolio..usually >10% min.

 

[Julia]

Ive been on the browse for a new broker also. Only thing keeping me with commsec is 5.5% on my cash. Which is a considerable amount of my portfolio..usually >10% min.

You can get better than 5.5% in an online linked a/c. Then just transfer it when you want to buy.

 

[mrchips]

Decent service. Much better than commsuc or such when sh$t hits the fan.
Level 2 data of course, their in-built charts suck though. From memory most just use ninjatrader to chart with IB data

Yeah.. ok so which package do you go with for a regular trader, they seem to offer loads of options at IB Interactive brokers?

Here is a review of a few other providers out there ..

http://www.thesmsfreview.com.au/comparison-table-online-brokers.html

 

[Logique]

Or you could check out the sponsors product, a supporting advertiser for ASF.

Bell Direct: https://www.belldirect.com.au/?ef_id=lthNqLxqTjUAAAxd:20110426230158:d

SMILES award 2011 for best online broker in customer service
In November 2010, Bell Direct received the Smart Investor League of Exceptional Service (SMILES) award. This reader's choice award from AFR Smart Investor magazine recognises businesses based on how they've treated their customers over the year

 

[Joe Blow]

Or you could check out the sponsors product, a supporting advertiser for ASF.

Many thanks for reminding everyone about ASF's advertisers.

It's easy to forget sometimes that those who advertise here at ASF make this website possible. Without them, ASF would cease to exist overnight, so please be sure to keep an eye on the advertisements to see what's on offer. The advertisers know which website you're coming from when you click through to them from one of the advertisements here at ASF, and they value every visitor and customer!

 

[oneagainstthem]

Hey guys,

I was wondering which companies are respectable and provide a good service with decent prices. Commsec atm is making me broke because of my day-trading.

HINT - to the new guys, do not day trade with commsec because brokerage will own you!

you really don't want a cheap broker , what you need is a professional reliable,honest broker, I've used most of them,and the cheaper the broker the more they cost you, I find CBS,or FP Markets, who both use the Saxo platform,very good,and the platforms excellent, as for OTC cfd's I can't find a good reason to trade them ,too much slippage and requotes, theyr'e no cheaper to trade than DMA.

 

[davede]

What's the support like with Interactive Brokers?

 

[mbes]

What's the support like with Interactive Brokers?

[COLOR="teal][SIZE="4"] If you have to ask, they are not for you!

They are the best, but only for those who know what they are doing. [/SIZE][/COLOR]

 

[davede]

[COLOR="teal][SIZE="4"] If you have to ask, they are not for you!

They are the best, but only for those who know what they are doing. [/SIZE][/COLOR]

Knowing how to trade and having support from your broker related to their brokerage and systems are two completely different things.

E.g. their system is down, has an error, or won't allow clients to place a trade. Will they quickly and informatively respond to their customers questions? Will they inform them if maintenance is going to be performed on their systems and will be down? How reliable are they? Do they allow clients to call to place trades in the event systems fail etc.

The fact that you respond to my question in such a hostile and uninformative manner and you are most likely a client of theirs is not doing their reputation any favours.

 

[lukeamac]

Many thanks for reminding everyone about ASF's advertisers.

It's easy to forget sometimes that those who advertise here at ASF make this website possible. Without them, ASF would cease to exist overnight, so please be sure to keep an eye on the advertisements to see what's on offer. The advertisers know which website you're coming from when you click through to them from one of the advertisements here at ASF, and they value every visitor and customer!

Do they still sponsor the site? Looking into a broker now...

 

[Joe Blow]

Do they still sponsor the site? Looking into a broker now...

Interactive Brokers sponsored ASF for a number of years but finished up some time ago. CMC Markets and Saxo Capital Markets are our current sponsors.

 

[whytrade34]

Bringing back the thread back to life. Few low cost brokers are Pepperstone, EXness, Gallant Capital, NordFX, Turnkey Forex, LMFX

 

[DB008]

Found this one

CHESS Sponsored

$9.50 per trade, regardless of size.

https://www.selfwealth.com.au/

 

[ALesha]

Hi everyone,
I am new to this forum and did some searching through other threads but could not find much about the PlaceTrade.com broker. This is a US broker (IB is their clearing firm) who seems to offer margin accounts for AU residents (individuals) - http://us.placetrade.com/index.php/help-me/start-low-equity-minimums-account-info
Their rates seem pretty cheap to me - just a tad higher than IB's (which makes sense).
I have sent an email to their support asking if I should know about any restrictions for AU residents before I open an account with them. Haven't got any response yet (after 24 hours) will try giving them a call today after 8pm (there is a local AU number on their Contact Us page with working hours starting from 8PM AEST).

Have any one here dealt with these guys before? Any feedback will be much appreciated.

Cheers,
Alex

 

[Indoril]

Hi everyone,
I am new to this forum and did some searching through other threads but could not find much about the PlaceTrade.com broker. This is a US broker (IB is their clearing firm) who seems to offer margin accounts for AU residents (individuals) - http://us.placetrade.com/index.php/help-me/start-low-equity-minimums-account-info
Their rates seem pretty cheap to me - just a tad higher than IB's (which makes sense).
I have sent an email to their support asking if I should know about any restrictions for AU residents before I open an account with them. Haven't got any response yet (after 24 hours) will try giving them a call today after 8pm (there is a local AU number on their Contact Us page with working hours starting from 8PM AEST).

Have any one here dealt with these guys before? Any feedback will be much appreciated.

Cheers,
Alex

You've got me interested. Please post back here if/when you hear back from them.