Help me to find which platfrom i should use ?

Discussion in 'Trading Software' started by h12345, May 29, 2010.

  1. h12345


    There is what I need:

    I'm a day trader I work for small company which i want to leave and start trading for my self.

    But there is always one "but" If leave my firm I can't trade with same platform because in my contract says that after I leave I can't use that platform for 2 years without a permission of my boss who is asshole. He give us only 40 % from our P&L that's why i wanna leave .

    We are trading mostly preferred stocks and common stocks so I need fast and good platform to trade pref. and commons for my self so which one will be best for me ?
  2. What platform?

    How many brokerage firms offer this platform?

    If you open an account at a brokerage firm that offers this platform how is your (former) boss going to know about it?

    Nobody knows what broker and platform I use unless I specifically tell them that information.
  3. joe4422


    Well just use interactive

    Good luck bud.

    Sounds like your boss if full of shit by the way. A good intimidater but nothing else. Call his bluff and stick it up his ass. If that doesn't work, just beat the shit out of him.
  4. What sleazy brokerage firm tells a third party who their customers are without the customers' permission?

    None of the brokerage firms I use or have every used tell 3rd parties that I am a customer (except for tax and regulatory purposes).

    You didn't answer the question "How many brokerage firms offer this platform?"

    There are plenty of brokerage firms and platforms out there. Just look at the brokers list here.

    The better known direct access brokers are: Interactive Brokers, Lightspeed, MB Trading and TradeStation.
  5. I understand your English just fine (and I speak zero Bulgarian).

    I don't know about contract law in Bulgaria, but in most countries a contract that says that you can't trade for yourself for some number of years after you leave a trading firm is not valid. What is valid is a contract stating that you cannot set up a similar trading firm for some number of years after you leave a trading firm.

    Can't judge that 40% payout without more information. Were you charged for training? How much of your own capital is at risk? What expenses, fees and commissions are you charged? How much leverage do you get?

    If there is no one else in Bulgaria doing this type of trading operation then 40% of something sounds better than zero percent of nothing.

    No need to tell us which firm you left and where you now have an account.
  6. siki13


    If i was your boss i would make you sign the same if not worse
    contract and 40% (ok i would do 50%) is generous considering he dragged your ass from nowhere and teach you have to trade.
  7. Choice of trading platform should be selected in accordance with your own conditions.

    As I remember, interactivebrokers allows you 1:4 margin for stocks, that is you can buy 40,000 worth of stocks with 10k balance. Their minimum opening amount was 10k USD. (less for young individuals)Their commissions were very low however kind of slow customer service.

    If you want to use greater margin, you should use CFDs or spread betting firms. Their acct opening minimums are less than 500 USD and can give 1:10, 1:20 margins easily for liquid stocks. This of course brings a great risk of blowing acct.

    If you want to trade futures, there are reputable companies giving intraday margins. For example regular margin for 125k EUR/USD contract is 4,000 USD, intraday margin is 500 USD !!

    Hope it helps
  8. siki13


    If that's all true then your boss sounds like a mental case.
    Last thing he should do is put additional pressure on traders.
    That is just dumb and counterproductive
    Well you have my blessing to ditch this guy :)
  9. What are the chances that there are 125 (or 25) guys sitting in some office in Bulgaria making big money trading preferred shares? This seems implausible.
  10. ScottSam


    For common stocks, it's fairly easy to get yourself setup.

    For preferred stocks, I have no idea.
    #10     May 31, 2010