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luisHK
Registered: Sep 2010
Posts: 995 |
03-26-12 06:09 PM
Thanks Comintel, at least it sounds good about forex.
Actually TS don't seem to offer HKD, but that's fine for me (atm).
http://www.tradestation.com/product...ng-instructions
As of platform fee, it now seems quite easy to get it for free - 5000 shares or 10 futures return trips or 50 contracts per month do the trick.
TS offer doesn't look as good as IB's, neither in fees nor in offered markets but I've been looking for a while for an alternative to IB and didn't find anything convincing (for my planned investment at least).
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comintel
Registered: Jun 2008
Posts: 1077 |
03-26-12 06:21 PM
Quote from luisHK:
Thanks Comintel, at least it sounds good about forex.
Actually TS don't seem to offer HKD, but that's fine for me (atm).
http://www.tradestation.com/product...ng-instructions
As of platform fee, it now seems quite easy to get it for free - 5000 shares or 10 futures return trips or 50 contracts per month do the trick.
TS offer doesn't look as good as IB's, neither in fees nor in offered markets but I've been looking for a while for an alternative to IB and didn't find anything convincing (for my planned investment at least).
Hmm they have HKD listed for their futures accounts anyway at
http://www.tradestation.com/product...ng-instructions
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luisHK
Registered: Sep 2010
Posts: 995 |
03-26-12 06:25 PM
Yes strange, but the companies names are different "TRADESTATION FOREX INc" and "TRADESTATION SECURITIES INC" It might have to do with their agreement with Gain, or if it's possible to wire HKD to any of them, I hope the Portfolio Maestro software will be more impressive than the website
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comintel
Registered: Jun 2008
Posts: 1077 |
03-26-12 06:35 PM
Quote from luisHK:
Yes strange, but the companies names are different "TRADESTATION FOREX INc" and "TRADESTATION SECURITIES INC" It might have to do with their agreement with Gain, or if it's possible to wire HKD to any of them, I hope the Portfolio Maestro software will be more impressive than the website
True but you can still do free transfers between account types. I think it is all the same ownership and management. They are owned now by Monex of Japan.
I think Gain is gone now. It was widely unpopular.
TS has really good active forums once you have an account. Far better than IB (where there is nothing similar).
As to account services, they are totally phone oriented. No ticket system etc. If you email, they usually say to call. I far prefer the impersonal automation of IB, personally.
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luisHK
Registered: Sep 2010
Posts: 995 |
03-28-12 07:31 PM
Bad news, securities account is in USD only and for the remaining :
"In the Futures account no conversion takes place. The profits are left in USD until they are removed from account; at which point they can be sent to you via USD or any currency of your choosing. Thats when an actual conversion takes place and it is done based on the transferring banks spot rate exchange.
For Forex, the same rule applies; except the profits are placed in account as the delivered currency. "
So it's much better to wire in USD as other currencies will have little use for one trading mostly the US market (also it's 35usd for international wires out, so if you can convert all in 1 currency, you have to pay this fee, and intermediary bank as well as beneficiary bank fees) for each currency.
Also margin rates are outrageous, so paying them to trade in USD while GBP/HKD/EUR/AUD etc... stay idle on the account is most frustrating. Considering the securities, futures and forex account are separate and one has to take care of keeping a minimum in each, and risk a liquidation if one goes below the margin limit while others are overfunded, the funding issue appears a major hassle.
If anyone here has experience to share on the topic with Tradestation, please do share.
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nkhoi
Moderator
Registered: Aug 1999
Posts: 8801 |
03-28-12 08:00 PM
Quote from qichxi:
J.P. Morgan Chase advised that the conversion rate for my wires that were received on 02/08/2011 was 0.98602.
Other banks was 1.0146 on 02/08/2011.
I couldn't do anything to claim our loss?
J.P. Morgan Chase <--- your clue, see MF Global for more reference.
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