HSI broker wanted

Discussion in 'Retail Brokers' started by joesan, Jul 19, 2005.

  1. joesan


    Nowadays I am trading HSI through IB. Generally speaking, I am satisfied with their job. But as you know , in this world of uncertainty, you have to prepare for the unexpected. I am looking forward to having a second broker for HSI. I am not located in Hong Kong and mainly trade online.

    thanks for any help.
  2. mokwit


    Refco has HSI. USD10k account min and comm ~2x IB with no volume comittment. Can't fault service. Platform is cludgy but stable - not a scalping tool. 24 hour with no shut down and no outage for "testing" while you have a position on. If I could hook Button Trader and Sierra up to them I would drop IB*.

    Local brokers also but I would not be leaving any resting stops with that lot from what I have seen in the market.

    *(NB I feel the same way as many others. If IB fixed the reliability issues with TWS and improved customer service it would be hard to fault IB - they get a lot right but are let down by these two factors and really only these two factors - I have no other issues with them)
  3. joesan


    thanks Mokwit

    I talked with Refco HK and some other HK local brokers. The commision rate provided by Refco is not comparable to IB and a bit too expensive for daytrading. At last I reached agreement with a local broker. They are slightly more expensive than IB, and adopts a reliable trading platform. (http://www.sharppoint.com.hk)

    According to the broker, the platform is very stable and HKFE is looking to buy its shares.
  4. jrkob


    joesan, how much does sharpoint charge per HSI roundtrip intraday ? Their website doesn't seem to mention it (unless I didn't check properly ?).

  5. joesan


    sharppoint is not a broker.

    It is a software company selling trading related programs. The HK broker I mentioned above use sharppoint products.

    They charge me HKD80 ROUND TRUN INCLUDING ALL FEES. I am proceeding paperworks with the broker, may advise you their name privately later, as they do not want their name to be mentioned publicly .
  6. So, you think IB will go bust soon?
  7. joesan


    At the time I made the original post , the IB TWS connection was not stable, at least in my part of the world. But since late last year, the situation has greatly improved, so yes, I am happy with the IB now. But still I found another broker as a backup, just in case...
  8. RedDuke


    Hi Joesan,

    I am looking at trading this contract. Is IB still your main broker for HSI? Whom else did you find? I am based in US, and to my surprise not too many brokers offer it.

  9. joesan


  10. RedDuke



    Thanks. I just got interested in HSI, I currently mainly trade DAX. If you do not mind, can you please answer these several questions:

    1) How long does IB take to execute the trade in miliseconds?
    2) What is usually bid/ask spread?
    3) I just looked at the charts and saw some 20-30 points spike within seconds. Is it usual? What happens to the stops execution if the spike goes against your positions?
    4) Is there enough liquidity to execute 5 contract clips with no slipage?

    Thanks a lot,
    #10     Feb 22, 2007