Which Stock Broker Company are you using?

Drakares

Hey Folks,

I'm looking to get back into trading after a 5 year break.

I was pretty sick to check out my long term investments would have made me a fortune if I had stuck with it, but I had to take out my money and shut down my account due to needing the money. The main company was Activision Blizzard, which I bought for €8 is now worth €44 - but **** happens.

Anyway - I used to trade with fxcm and I was quite happy with them. They charged a €20 commission for any and all trades, buying and selling. However I have been lurking here a while and have seen some people talk of commission free companies which have a decent service.

The question is - is there an advantage to going with a company which charges commission? Are the services better? What does a company with no costs gain? and lastly, which is your favorite?

Cheers!

BrokenArrows

I have accounts with Saxo and Degiro

While Saxo is a much better platform, Degiro has much cheaper costs.

Drakares

And to digress a little, do you use any extra finance software to keep an eye on your investments, keep track of losses / profits etc.

BrokenArrows

Drakares wrote: »

And to digress a little, do you use any extra finance software to keep an eye on your investments, keep track of losses / profits etc.

I use google to get real time pricing without having to pay for it, and googles portfolio ability to keep track of stocks im monitoring, graphs etc.

ftse100

BrokenArrows wrote: »

I use google to get real time pricing without having to pay for it, and googles portfolio ability to keep track of stocks im monitoring, graphs etc.

What is the Saxo Platform like? Do they offer a good derivatives platform? What's the minimum you have to deposit initially?

banie01

I'm using Saxo for the last few years. The Saxo Go platform is quite good IMO but that said I do have my portfolio mirrored on google finance to access their reports too.

I previously used TD Direct, but ended up having huge issues with their platform and then in turn their customer and technical support.
Ended up with the UK financial ombudsman. I got a compensatory award along with a fee free transfer out to bring my time with TD to an end.

There is a thread http://www.boards.ie/vbulletin/showthread.php?t=2056844033
With my own and other customers dissatisfaction with TD at the time, I can't comment on if they have improved in the interim.

Degiro I've not used but I am considering, given their lower fee structure.

BrokenArrows

ftse100 wrote: »

What is the Saxo Platform like? Do they offer a good derivatives platform? What's the minimum you have to deposit initially?

I dont use anything outside of standard stocks so not sure about derivatives.

Saxo supplies a demo account with fake money, so you can sign up and try out the platform yourself.

Drakares

BrokenArrows wrote: »

Saxo supplies a demo account with fake money, so you can sign up and try out the platform yourself.

I signed up for it, but I can't make any trades with the fake money account - "You are not authorised to trade in this instrument on the selected account"

BrokenArrows

Drakares wrote: »

I signed up for it, but I can't make any trades with the fake money account - "You are not authorised to trade in this instrument on the selected account"

Strange. Just drop them an email or call them.
Ive always found their support very helpful.

Dardania

I use yahoo finance for tracking as they can access ISEQ.

I'm not a frequent trader at all (maybe once a year) so I'm happy enough to continue with goodbody. Pricey for frequent trades id say

One More Toy

In my opinon, if you are a regular trader/investor and going to build up a sizeable portfolio; diversification of brokers is wise as you could never know what happens with these companies, even with regulation.

I use IG & Degiro (left TD as it was poxy)

Considering Saxo or interactive brokers for further diversification.

Its always a good idea to read into the T&Cs and see how client funds are protected