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Hi,
I appear to have come up with a short list of 2 possible brokers and
wondered if anybody could comment on their ability (or mention
another broker I should consider).
I'm aiming for my EOD system to generate around 3-4 trades a month
and have a reasonable starting account size (not big but not tiny
either). Overall trading costs will need to be as low as possible in
order for my system to stand the best chance.
My criteria:
a) Supports US AND UK residency (I'm moving to the UK from the US).
b) Low commission and ongoing charges.
c) Pays interest on credit balances.
d) Trading Stocks and ETF's.
www.interactivebrokers.com
For:
Very cheap commission.
Could trade anything.
Against:
No free data. Have to pay $3/month if you don't subscribe.
Their app requires a special downloaded JAVA environment.
www.ameritrade.com
For:
Includes free data (but since I'm not day trading!).
Against:
They last updated their low credit interest rate in Nov 2001.
At $11, commissions are higher than interactive but not bad.
I had looked at E-Trade but they seem to charge, charge, charge. I
don't call $20 commission plus account charges very good.
Any input or comments would be much appreciated.
Many Thanks,
Sean
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