Hi all, I am new to equity trading and am looking for the best trading platform for my needs. I was looking at optionshouse.com as it has the cheapest commissions for equity trades, but this site is only open to US citizens and I live in Malta (which is part of the European Union). What site with cheap commissions exist which except foreigners? Andrew
After some research I think the biggest name that has reasonable commissions and minimums is http://www.optionsxpress.com/ I have yet to open an account with them though.
My guess is that you contact them, tell them your anticipated volume per month and see what rate they give you. I'm gonna call them and see if there is any way around the US passport garbage. Since I have a residence in France, maybe I can even set up a Gibraltar company to trade from. If you don't mind, please let me know what rates they give if you find out, pm or post here.
Hi Andrew, I don't think so. In attachment a screenshot of Interactive Brokers commissions fee. I'll contact Investors Europe on Monday and let you know what are their. Bye
Investors Europe will match other offers if you have volume. I have emails from them saying that. PM me if you want me to forward one to you. (To clarify, these were sent to my European address. They are not allowed to solicit U.S. persons). It is a matter of negotiation. It also depends on platform as they have to pay a lot to Saxo if you need to use the Saxo platform. As to U.S. passport, I think it is highly in your overall interest to give it to them if you are a U.S. citizen so that nobody (the IRS) can argue later down the road that you were attempting to evade U.S. taxes and reporting. You want everything to be totally above board, everything disclosed, all taxes and reporting done etc. It is not illegal for a U.S. citizen to have accounts abroad and you want to have a documentary record showing that you are fully compliant.
Since I'm at a summer job and can't trade, I was doing some research. There is a firm called "trading places " in Paris, and also europroptrading based out of Madrid. Anyone have information on any of these firms?
I wonder how the commissions are made by your Trend Plus500. Because I feel disrespected by that Trend that offer me bonus. The commissions of that Trend drastically increased a little before three months after I had joined the Trend, made account and download the software. I do not think it's fair to cheat the people who is working with the software.. I don't know if is the case but I would like to understand, I'm a beginner. How the commissions/fees increase so drastically and my power of purchasing became so low from one day to another without explanation?
Interactive Brokers. The other brokers either have a limited amount of product offerings, higher commissions or restrictions against non-US.