Two questions: 1. Who (retail) allows Stateside traders to trade individual Australian equities? (I'm not talking about ADR's, ETF's, etc.) 2. Who (retail) allows Stateside traders to trade individual Brazilian equities? Any recommendations would be much appreciated.
Australia: AOT or L Quay ...or if you don't need direct access then try the Aussie banks or take a look at http://www.afsd.com.au/brokers.html Brazil I don't know sorry
Why would you want to trade Aussie stocks? I live in Oz and I gave up trading them years ago. The only stocks that move are the low priced ones and the spreads can be huge at times. Also the Australian market has very little decent real time trading technology for scanning breakouts etc. The Lquay platform is very fast and reliable though. But a little bit expensive for what you get. Runningbear
You may have just talked me out of it. I'm in the desert southwest of the U.S. and the exchanges close at 2:00 for me! I wanted to have the option of doing a little swing-type trading into the evening since Australia is open about 3pm to 10pm for me. But I didn't realize the stocks are so flat-lined and the spreads bad. (High spreads make me irate so I'm glad to know about that.) Don't you at least occasionally partake in the very best of your world? Surely Sydney has some pretty highly capitalized issues with decent growth and liquidity?
Just did a little research and I see what you mean: today there were only 14 issues with over 100 kshares. Hmmm...
You could trade the SPI contact. Which is much like the ES mini. One point spread most of the day - $12.50 US a point Can trade it through your IB account $3.50 US per side. Margin about $1250 US per contract. I trade it. Runningbear
I've been watching that SPI also...too bad with IB you cant get any market depth yet....but i was thinking about trading it after a day-job....it seems also there my be advantage in my opinion as the SPI will move similar to the major US markets...and only 3 hrs after it closes....today for example ...s&p and nasdaq trend upward almost out of the blocks....as i write it seems the ASX 200 is doing the same thing....talk about an unfair advantage...is this the best kept secret out there? (the canadian exhanges are open in the same time zone, so there's no advantage) LP
Unfortunately not. In fact you would get killed if you buy the SPI whenever the dow goes up, and vice versa. It tends to gap higher on days like this and then fade away into the close.
Trading the SPI on a daily basis I wouldn't say that it's a "best kept secret". Todays run up in the ASX was factored in yesterday with the futures finishing at a 17 pt premium to cash-3024.Market opened at 2976. Overnight Oz time the SPI closed up another 11 pts-3035. This morning SPI opens at 3035, first 2 mins runs up to 3042 then proceeds to head south for rest of morning,for low of 3022. At moment 3028. Unfortunately it is not just a case of getting up and looking at how the U.S. traded. In fact the Oz market can be a lead indicator to what is going to happen O/night in U.S.
Running Bear,Zen trader. You both obviously trade SPI. Who do you trade through. I use L Quay. Good trading interface. Brokerage bit pricey though. Cheers.