US Broker who will open an account for an Australian citizen.

southall said:
Have you ever thought about developing some custom software for just your specific use cases using the TWS api?

I been running TWS daily since 2004 but never use it directly. Have my own simple GUIs that sit in front of TWS and do exactly what i want and no more.
But TWS is still there if needed as well.
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Is the speed capped by tws? Which often experiences data loss
 
Isn't there a problem with this approach ?
ie: you have to have your computer on all the time.
No connectivity problems etc.
 
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Apollo13 said:
I have. I then thought better of it. I looked at attaching Ninja trader to it for a while. Not really ideal. Would rather just have a platform that worked right out of the box.
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The problem is, no retail broker integrated platforms match the capability of third party solutions, and if they come close, monthly costs are associated.
 
The real problem is finding a LARGE broker here in Oz.
IB are about the only one.
CS is not even processing my application even though they say that they do us Aussies.
 
Apollo13 said:
The real problem is finding a LARGE broker here in Oz.
IB are about the only one.
CS is not even processing my application even though they say that they do us Aussies.
More...
Yep, the broker community in Oz is pathetic on choice, the big 4 banks know how to corral the market, and we know how the big 4 have come through with their reputation in tatters via the Royal commission into Banking here.
Were the Royal commission ever to turn the spotlight into the Australian brokerages, that would be a revelation, but have heard no murmur about it.
The gummint here is complicit into the way the banks have fleeced everyone by allowing them to gobble up everything financial, but gummint will never admit that.
 
Yup... all agreed there.
Hence why I don't trade Aussie stocks.
Trades too expensive and market liquidity is too thin except for the largest stocks.
Comsec, ANZ and all the rest want gold per trade, for what ? Jebuz.
Stuff that.
Gummint ? which gummint ? I lose track.
 
Apollo13 said:
The real problem is finding a LARGE broker here in Oz.
IB are about the only one.
CS is not even processing my application even though they say that they do us Aussies.
More...
Broker in AUz for AUz market or for US market? if for US market apart from IB have you tried Charles Swab! One idea with client money protection in US is purchase treasury bonds and keep them with IB and then use that as collateral!
 
Yar.. Only interested in US equities.
That broker is the one that takes the paperwork then does nothing with it.
They are not really interested I am guessing.
ASX trading is too expensive compared to IB. I am spoilt.
 
you mean https://www.schwab.com.au ( Options express previously) !
not sure what exactly your gripe is? have you called them?
what is your main requirement
Comms? platform? Customer service? variety of products or just how financially sound the broker is? by the way with IB they now have transferred all retail cash accounts to ASIC jurisdiction meaning NO SIPC protection any more , Australian Guarantee fund protection is perhaps not as good as SIPC
 
Apollo13 said:
Hey all.

I am currently using Interactive Brokers for stocks and am reasonably happy with them.
They are cheap for trading at my level of business so that's fine.

However, I would like to try another broker. Preferably someone with a more "modernised" platform. Happy to pay a little more for something modern.

TWS looks and behaves like it was designed by committee sometime in the 90's.

Don't get me wrong, it does stuff ... lots of stuff. But it has a 1500 page manual for a reason and even though I have been using it for a few years it's still painful to use.

Looking for a big name ... large cap ... 15B+ broker.
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Hi Apollo 13. I'm Sydney based and have struggled with the same issue. The broker that seems to solve this is Tradestation Global. Google it. It's a JV out of the UK using Tradestation friendly graphics interface with Interactive Brokers UK platform. I came across it online a few months ago but haven't had a chance to look into it further as I dont have the time for the moment. It seemed to be accessible to Australian clients.

If you give it a go I'd appreciate feedback on your experience with them.
 
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