Anyone use TD Ameritrade?

[Mecisteus]

oh fk me.. that's way too long -.-
thanks.

No free lunch.

Zero commission but unknown FX spread.

And very slow funding process.

Most likely the margin rates are worst off.

 

[volker15]

How does one get his referral link? I’m trying to refer my friend. I already have a account. Thanks.

 

[celtosaxon]

No free lunch.

Zero commission but unknown FX spread.

And very slow funding process.

Most likely the margin rates are worst off.

I really don’t understand why so much fuss about a fraction of a percent on forex spread, or waiting a week between dropping a check in the mail and seeing the funds arrive in the account. I’ve never even touched the margin.

What are you guys doing... day trading with seven figures plus margin?

I’m just a boring cash investor sending a 5 figure amount a few times a year and investing for the long term... I have no concerns at all.

 

[F1ngolf2012]

WTH you are only interested to spread referrals but you cannot help to comment on the spread?

Let's be absolutely clear. I have no interest at all to spread referrals and I don't need it. I only PM those who ask for it.

Just to add that I cannot comment on the FX spread because I never fund my TDA account with SGD. I do not comment on things which I have not done before or do not know.

 

[F1ngolf2012]

I really don’t understand why so much fuss about a fraction of a percent on forex spread, or waiting a week between dropping a check in the mail and seeing the funds arrive in the account. I’ve never even touched the margin.

What are you guys doing... day trading with seven figures plus margin?

I’m just a boring cash investor sending a 5 figure amount a few times a year and investing for the long term... I have no concerns at all.

I resonate with you and I'm also a boring investor.

For those who are concern on FX spread, you can consider using your own USD to do the funding.

And if you are still concern on the insignificant FX spread difference, then you may want to re-consider whether trading/investing in US market suits you. It would be a real concern if you are not confident that your trading/investing return is able to cover many time more than the FX spread.

 

[Mecisteus]

I really don’t understand why so much fuss about a fraction of a percent on forex spread, or waiting a week between dropping a check in the mail and seeing the funds arrive in the account. I’ve never even touched the margin.

What are you guys doing... day trading with seven figures plus margin?

I’m just a boring cash investor sending a 5 figure amount a few times a year and investing for the long term... I have no concerns at all.

FX spread of 0.5% on a $10k will incur you a $50 loss.

If you cannot understand this then I don't know what to say.

 

[F1ngolf2012]

Preferential rate? Isnt it juz send it over via dbs in sgd?

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How do you know what's the preferential rate if we transfer using SGD via DBS?

Sent from HUAWEI YAL-L21 using GAGT

Yup! I believe the preferential rate TDA told me is the same as DBS remit. I would update here once I get clarification from them.

As a closure to my earlier post, below is TDA reply to funding via DBS:

If you transfer in SGD from your DBS account to our DBS account for us to convert to USD, the conversion will be at a corporate rate given by DBS to us. If you have existing USD in your bank, you would need to initiate a telegraphic transfer/overseas remit directly to Wells Fargo Bank. We do not charge for receiving your funds. Please check with your bank on their charges.

 

[Mecisteus]

Let's be absolutely clear. I have no interest at all to spread referrals and I don't need it. I only PM those who ask for it.

People ask for referrals, you just PM their inbox quietly.

Don't need to spam PM sent 100x in this thread.

 

[occifer]

As a closure to my earlier post, below is TDA reply to funding via DBS:

If you transfer in SGD from your DBS account to our DBS account for us to convert to USD, the conversion will be at a corporate rate given by DBS to us. If you have existing USD in your bank, you would need to initiate a telegraphic transfer/overseas remit directly to Wells Fargo Bank. We do not charge for receiving your funds. Please check with your bank on their charges.

The corporate rate is significantly better?

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[Mecisteus]

The corporate rate is significantly better?

He hasn't tried so how to answer you?

AFAIK so far nobody has shared a comparison of the actual rates transacted.

 

[celtosaxon]

FX spread of 0.5% on a $10k will incur you a $50 loss.

If you cannot understand this then I don't know what to say.

If I was worried about $50, I would have a hard time sleeping at night, with my portfolio often gaining or losing 5 figures in one day.

My wife nearly flipped when she heard how much we lost in March. The reason I told her was so that she could learn. I just kept on buying at sale prices and now we are easily ahead for the year.

For me, Bogle said it best, “successful investing involves doing a few things right and avoiding serious mistakes”.

 

[Mecisteus]

If I was worried about $50, I would have a hard time sleeping at night, with my portfolio often gaining or losing 5 figures in one day.

My portfolio also can swing 5 digits in 1 day.

But just curious. Your portfolio is in TDA or IB?

 

[celtosaxon]

My portfolio also can swing 5 digits in 1 day.

But just curious. Your portfolio is in TDA or IB?

TDA, moved there back when E*Trade closed years ago. I know IB is good, just lazy to try. I only invest in a very simple two fund portfolio.

 

[3dfxplayer]

I really don’t understand why so much fuss about a fraction of a percent on forex spread, or waiting a week between dropping a check in the mail and seeing the funds arrive in the account. I’ve never even touched the margin.

What are you guys doing... day trading with seven figures plus margin?

I’m just a boring cash investor sending a 5 figure amount a few times a year and investing for the long term... I have no concerns at all.

0.5% spread is huge, and its all the more relevant for investors who only buy a couple of times a year. Its pointless if you are saving like $10 commissions on a 50k investment but lose $250 on the FX spread (both are one time costs), you end up paying MORE to invest the same 50k.

The commission free feature only makes sense if you are an active trader, the $250 FX spread hits you once but you make it all back with 25 trades that save $10 each time you trade, but then again active traders tend to favour execution over lowering commissions (ceteris paribus), being front run by HFTs is going to hurt the bottom line more in the long run.

 

[todayisgood]

Current new sign up takes 2-3 weeks after submitting all documents. Funding via DBS transfer takes 1-2 business days.

If you tt before 5pm, you will see the sum in your account before 11pm

 

[celtosaxon]

0.5% spread is huge, and its all the more relevant for investors who only buy a couple of times a year. Its pointless if you are saving like $10 commissions on a 50k investment but lose $250 on the FX spread (both are one time costs), you end up paying MORE to invest the same 50k.

The commission free feature only makes sense if you are an active trader, the $250 FX spread hits you once but you make it all back with 25 trades that save $10 each time you trade, but then again active traders tend to favour execution over lowering commissions (ceteris paribus), being front run by HFTs is going to hurt the bottom line more in the long run.

I would choose IB if making the decision today. Their forex is wonderful... not denying it. Just lazy to make the switch.

Now that I think about it, my laziness has probably cost me a lot over the years. For example, I have never signed up for one of those bonus interest accounts, been sitting here earning zero! What is wrong with me?

 

[occifer]

TDA, moved there back when E*Trade closed years ago. I know IB is good, just lazy to try. I only invest in a very simple two fund portfolio.

TD has a far better program.
Far easier to see P/L.
IBKR has a retarded way of counting P/L ....especially if u use options + stocks together.

I dont get why IBKR wont make it easier to see P/L, like TOS does.

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[Mecisteus]

TDA, moved there back when E*Trade closed years ago. I know IB is good, just lazy to try. I only invest in a very simple two fund portfolio.

Since your portfolio can swing 5 digits, it should be at least USD$100k. You save on the minimum activity cost with IB.

Commission is not free but you save alot on the FX conversion.

Imagine you need to liquidate your portfolio USD -> SGD, you will get hit by a huge FX conversion loss.

 

[celtosaxon]

TD has a far better program.
Far easier to see P/L.
IBKR has a retarded way of counting P/L ....especially if u use options + stocks together.

I dont get why IBKR wont make it easier to see P/L, like TOS does.

Sent from me using GAGT

Very true. Thinkorswim is an impressive piece of software code... deep set of robust, sophisticated, real time analytics that are highly customizable. I’m surprised they can put it all in such a lean package with near instant responsiveness. Anyone who is a big chartist/technician will appreciate it. Having live CNBC for free is also a nice perk if you don’t already subscribe on TV... it’s especially entertaining when the market is in free fall, like back in March (provided you are like me and simply find it amusing).

To be honest, the P/L in TOS isn’t really a super strong point IMO. I think they could still improve on that, but it works. But then, I really don’t care about my gain/loss now - maybe 20 years from now.

 

[celtosaxon]

Since your portfolio can swing 5 digits, it should be at least USD$100k. You save on the minimum activity cost with IB.

Commission is not free but you save alot on the FX conversion.

Imagine you need to liquidate your portfolio USD -> SGD, you will get hit by a huge FX conversion loss.

No, I could do an ACAT transfer of shares and cash between TD and IB. I did the same between E*Trade and TD last time. There is no conversion involved.

Yes, the commissions for IB would be almost free, as I don’t trade much... less than $10 per year. Clearly I could save well more than that on USD conversions.

I think it’s not a matter of if, but when I will make the move.