Prestoman

IB.... You can open an account, however you can only open a cash account. At this time Interactive Brokers is not able to offer margin account to resident of Australia, which is required to be able to short stocks. This is due to regulatory restrictions. Interactive Brokers is working on being able to once again offer margin account to residence of Australia. At this time I don't have an announced time as to when margin accounts will be available to residence of Australia. Regards Brian B

RunnerRunner83
1
RunnerRunner83 Feb 02, 15 8:42 PM

try suretrader, they are based in Bahamas and I guess they won't have as many regulations, however their order executions are not fast. TD Ameritrade is another one, I see OptionHouse, MB Trade have been top in reviews alongside IB and ETRADE.

MarkAus
MarkAus Feb 14, 15 8:22 PM

Be aware websites rating brokers shouldn't be taken too seriously. If you're not American and\or after a margin account then chances are you're going to have a tough time. Research their rules on international clients and having a margin (Tmargin) account if you wish to short.

MarkAus
MarkAus Feb 14, 15 8:24 PM

If Speed\Suretrader pack their bags you will lose everything as there is no protection. This go's for Americans as well. If you use them keep a relative amount of minimum cash with them.

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RunnerRunner83

@Prestomango suretrader doesn't have PDT rule, so u don't need 25K plus to do day trading (like IB and all other american brokers), it asks for reference and employee reference...but I think they are really tick in the box thing and won't contact the names...I have not opened an account with them myself, but IB asked for employee details which I provided but when I asked my boss, noone had contacted him

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RunnerRunner83

@Makalu Hi I am a new to trading and has just opened an IB account, I was wondering which subscription to buy to get market data for stocks, it's a bit confusing as a new trader, I appreciate it if you can share some of your experience.

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Zenyatta
2
Zenyatta Jan 30, 15 8:14 AM

Hi, I use US Securities and Futures Value PLUS which is $5 if you rack up $30 in commissions. I would go with the standard US Securities and Futures Value Bundle which is free if you spend 30 in comish or it's $10 per month. Keep it cheap for now, you can add other stuff later. I also get "nickeled and dimed" by a few other things like Options Exchanges, but unless you play options not necessary at all.

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RunnerRunner83

@MarkAus Hey mate, I am across the ditch in NZ and want to open a day trading account to be able to do shorts as well. I contacted eTrade yesterday and they told me that they are not opening accounts for APAC residents until further notice! I'd like to know if you've made any progress or have any recommendations

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RunnerRunner83
RunnerRunner83 Feb 02, 15 6:25 AM

sent u the list of promos + a pdf book as well, enjoy :) time to go to bed now...keep in touch

Prestoman
Prestoman Feb 02, 15 6:26 AM

thanks so much man will keep me busy tomoro. goodnight :)

MarkAus
MarkAus Feb 09, 15 5:31 AM

Hi, good to see some chatting. Since my Thailand trip Im yet to follow up on trading. Will soon. I was looking at eTrade as they allow buying\selling of USA shares. As for short selling: Non-Americans don't seem to be allowed. Im still researching though. No APAC accounts? I'll have to look into that. No eTrade could be a very bad thing.

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