http://www.interactivebrokers.com/ibg/main.php
Claims to have very low trading fees, but the description seems complicated, anyone has any experience with this company?
Hi chienwei, yes Interactive Brokers is indeed a established broker in the US.
You need a initial deposit of USD $10k or roughly around SGD $13k to start trading. After registration, you have to wire transfer the amt to your account.
Advantage is in their trading fees; US Stocks is USD $1 for 200 shares. In US, they dont have minimum amount of shares that you need to buy, such things as 1 LOT (1000 shares). You can buy 1 share of GOOGLE. Basically, if you buy 1000 shares of APPL, you only pay USD $5.
For Forex, you only pay 1 pip for EUR/USD, other currency pairs i am not too sure.
The disadvantage is that their customer services is lousy (you can take it as there is no customer service) and as for charting, you can take is as no charting tools provided as it sucks also. But if you have a IB account, you can hook up to
http://www.ninjatrader.com/ to provide you with a better charting platform for free.
Each month, you need to make a minimum trades, otherwise they will charge you USD $30+ or so.
[This is my own personal advice and does not represent any HWZ Money Mind Moderators]