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Paging WD40 re trade costs

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PNGMK
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Paging WD40 re trade costs

Post by PNGMK » Thu, 24 Sep 2020 9:16 pm

WD40,

I have a trade strategy for the SPY (s&p mini futures). Saxo is damn expensive (trade and margin wise). Do you have a platform you'd recommend as being cheaper?

Thanks.
I not lawyer/teacher/CPA.
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Re: Paging WD40 re trade costs

Post by the observer » Thu, 24 Sep 2020 9:38 pm

PNGMK wrote:
Thu, 24 Sep 2020 9:16 pm
WD40,

I have a trade strategy for the SPY (s&p mini futures). Saxo is damn expensive (trade and margin wise). Do you have a platform you'd recommend as being cheaper?

Thanks.
There’s inverse s&p etfs to go short the us index. Some offers 3x leverage.
ie. 1% move in s&p ~ 3% move in the etf

And there’s also etfs to go long. Up to 3x leverage too. Pick and choose, plenty.

Note: liquidity is key. Pointless if your bet is right but you have to cross a wide bid-offer spread just to enter/exit.


https://www.investopedia.com/articles/ ... xy-sds.asp

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Re: Paging WD40 re trade costs

Post by Wd40 » Sat, 26 Sep 2020 4:38 pm

PNGMK wrote:
Thu, 24 Sep 2020 9:16 pm
WD40,

I have a trade strategy for the SPY (s&p mini futures). Saxo is damn expensive (trade and margin wise). Do you have a platform you'd recommend as being cheaper?

Thanks.
Yes, Saxo is expensive. Interactive brokers is the best in terms of cost and product choices. It is very cheap to trade, however it is mainly for active traders. They want you to generate atleast $10 in commissions every month, if not they will charge you the difference every month. If your AUM with them crosses 100k USD, there is no minimum commission.

https://www.interactivebrokers.com.sg/e ... hp?f=47327

Since IBKR allows trading in stocks across world markets, you can consolidate all your holdings with them, by requesting a transfer of your assets from Australia, Singapore or anywhere else, so that it crosses 100k USD AUM

Also TD Ameritrade is good choice for US stocks and options, zero commissions. No futures or other countries stocks though. However they are overwhelmed with applications right now and people are waiting for more than a month for their account opening.

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Re: Paging WD40 re trade costs

Post by GSM8 » Sun, 27 Sep 2020 8:30 am

Tastyworks is cheaper in terms of commissions for US stocks and options. Their trending tools aren't great though

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Re: Paging WD40 re trade costs

Post by PNGMK » Mon, 28 Sep 2020 5:12 pm

IBKR is a slow and ugly platform. I should clarify I want to trade /ES (S&P Mini Futures). They are on IBRK (not on Saxo). Does Tastyworks do that?
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

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Re: Paging WD40 re trade costs

Post by Wd40 » Mon, 28 Sep 2020 8:54 pm

PNGMK wrote:
Mon, 28 Sep 2020 5:12 pm
IBKR is a slow and ugly platform. I should clarify I want to trade /ES (S&P Mini Futures). They are on IBRK (not on Saxo). Does Tastyworks do that?
Search for "e-mini". This is screenshot from my saxo account. Make sure in the settings -> products, you choose futures.

Image

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Re: Paging WD40 re trade costs

Post by Wd40 » Mon, 28 Sep 2020 9:14 pm

IBKR desktop interface takes some getting used to. I mostly trade using their mobile TWS app.
Image

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Re: Paging WD40 re trade costs

Post by PNGMK » Tue, 29 Sep 2020 11:43 am

Thanks WD40.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

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Re: Paging WD40 re trade costs

Post by GSM8 » Wed, 30 Sep 2020 9:38 pm

PNGMK wrote:
Mon, 28 Sep 2020 5:12 pm
IBKR is a slow and ugly platform. I should clarify I want to trade /ES (S&P Mini Futures). They are on IBRK (not on Saxo). Does Tastyworks do that?
Yes. Although I haven't tried options. I opened the account bec Tastyworks and TDA are the only platforms that'll take US citizens without US address. Of them TW is cheaper. I used to be with Schwab but they left the country and kicked out everyone who had a brokerage account.

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