XMD 1.17% 10,423 s&p/asx midcap 50

Hi Orwell, There is no doubt IB customer service is not as good...

  1. 4,594 Posts.
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    Hi Orwell,

    There is no doubt IB customer service is not as good as others, but they are really cheap. Do you want to trade on margin? If not, I'd go something easy like Optionsxpress. Brokerage and margin rates are cheaper with IB, but Optionsxpress should still be much cheaper than your Aussie accounts.

    Re: spreads, there is certainly no need to call anyone, it's all online. There are many different approaches to getting a fill. eg: Optionsexpress have a "walk limit"....you choose the start price, end price, price increment, amount of time the order rests on each price point, before moving. When you execute it "walks" your bid 'til you get hit at best possible price. The features on these platforms will blow your mind. You'll wonder why it took you so long to take the plunge.

    Re: the new rules for market makers, it's a long story but this is a good overview.

    http://www.wsj.com/articles/SB10001424052702303560204579248584111312074

    Some will argue this doesn't not materially impact liquidity:

    http://www.bloomberg.com/news/artic...nk-rules-kill-liquidity-volcker-frank-respond

    ....But i'm in the yes camp.

    Regardless it's all macro impact, and can actually end up being more profitable if you are happy to swing with momentum.

    Cheers
 
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