Sogo Invest, - New King of Brokers - $1.5 for 5000 shares

[trtrkk]

birdman<thank you a lot!

 

[trtrkk]

birdman< thank you a lot !

 

[trtrkk]

Quote from ByLoSellHi:

Okay, I just got off the phone with Sogo.

The rep was pretty helpful.

At any rate, I will NOT open an account there for the following reasons:

1) They charge margin interest beginning on T+1, which really is a massive hidden fee compared to other brokerage firms (as others here have mentioned).

But if intrdaytrading, they dont charge margin interest?
So for daytrader, they are so nice!

 

[trtrkk]

How is the stock order speed, if not use level2?

 

[trtrkk]

I find the comission table in website,
a) ECN fees: $0.00
b) DOT ACCESS FEES: $0.00
c) SEC Sales Tax: Variable as per SEC. As of June 29, 2005
$0.0000418 per $1.00 Sold in Securities
d) NASD TAF: $0.000075 per share sold
e) NSCC FEE: $0.00003 per share, 0.01 minimum charge
Is these comission necessary for level 1 order?
or necessary for only level2 order?

 

[trtrkk]

When open new account, I must select a package from
platinum,gold ,bronze,
But after 1month, if I want to change package,can I change package?

 

[amm]

During stock daytrading, if customer earn money,
the amount is soon refrected in margin account?
or updated on next morning?
for example,
If buy stock at $30,000 and sell at $28,000, so lost$2,000
the losted $2,000 is soon decreased from margin account?
or decreased at next morning?

 

[amm]

Quote from birdman:

most retail brokerages work like this ...
your buying power on a margin enabled account will be 2 times

if you have $25k in your account they can allow your margin enabled account to having buying power of 4 times on positions opened and closed during that day ... this means if you want to hold the position overnight (longer than the market day) your buying power is 2 times for overnight holds

they can allow your margin enabled account to having buying power of 4 times on positions opened and closed during that day
ª
That mean ,if I buy stockA, sell stockA, then buy stockB then sell stockB, then buy stockC ,sell stockC,
Can I use this buying power of 4 times to buy ,sell, other stocks?

 

[amm]

Margin buying power is 4 times of cash in account,
so I have $100,000 in account, then my buying power
is $400,000.
I buy stockA with $400,000, then sell with $400,000
then I buy stockB with $400,000, then sell with $400,000
then I buy stockC with $400,000, then sell with $400,000
in these, can I rotate this $400,000 to buy, sell different stocks
with limitless?

 

[stock777]

Quote from amm:

Margin buying power is 4 times of cash in account,
so I have $100,000 in account, then my buying power
is $400,000.
I buy stockA with $400,000, then sell with $400,000
then I buy stockB with $400,000, then sell with $400,000
then I buy stockC with $400,000, then sell with $400,000
in these, can I rotate this $400,000 to buy, sell different stocks
with limitless?

That's right. How do you think so many here doube thier money on a weekly basis?