I am looking for a broad based broker?
j d asked:
I would appreciate any advice on finding a brokerage firm that offers trading in MANY DIFFERENT markets ie.(Forex, Futures, Indexes, Stocks). I have looked online and could’nt find any. Does anyone know of one?
I would appreciate any advice on finding a brokerage firm that offers trading in MANY DIFFERENT markets ie.(Forex, Futures, Indexes, Stocks). I have looked online and could’nt find any. Does anyone know of one?
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Yes, the full service firms like UBS, Morgan Stanley, Merrill Lynch and Smith Barney. They all can invest in all of those, except most just hold a managed futures license(can only offer a pool of funds for the futures market). But usually, there are at least two financial advisors in those offices that can offer individual futures contracts.
At those firms, you will be charged a commission, priced as a percentage of trades and price, can’t be below 10dollars for the commission and most of those financial advisors don’t get paid on commissions below 50 dollars per trade. If you want to trade alot, you can have a percentage based portfolio with unlimited trades(except day traders) and that is around 1% for the portfolio. Of course, you can then write off 85% of that fee(%based portfolio) at the end of the year on your tax’s.
So to conclude, the full service firms will offer that for you, but it might be more expensive than if you found a place online that does it. But atleast I know for sure they offer these services.
FYI-some financial advisors may not want to take that type of risky business, so my advice if going to a full service firm, call them on the phone and ask for the Branch Manager to suggest somebody in the office with the skill/licensing/ and experience to help you. And interview a couple till you feel comfortable.
Hi,
I could introduce you to one of forex broker leaders that is located in SWITZERLAND and Regulated by the Swiss Federal Department of Finance; audited by KPMG.
They have very tight spreads. Total 25 currency pairs, Gold and Silver.
SPREADS:
2 pips for EURUSD, USDJPY, AUDUSD, EURGBP, EURCHF;
3 pips for GBPUSD, USDCHF, USDCAD, EURJPY;
4 pips for CADJPY, CHFJPY;
5 pips for NZDUSD, AUDJPY;
6 pips for EURAUD, GBPCHF, NZDJPY;
7 pips for EURCAD, GBPJPY;
8 pips for GBPCAD, GBPAUD, AUDCHF, CADCHF, NZDCHF;
10 pips for AUDCAD, AUDNZD.
LEVERAGE 1:200 default but client could chose the leverage from 1:1 to 1:200 at the account opening procedure.
MARGINS. The margin or leverage a client can have depends on the client’s account equity. The table below shows margin requirements for the different equity levels:
Less than 25,000 – 0.5%
25,000 to 1,000,000 – 1%
1,000,000 to 5,000,000 – 2%
5,000,000 to 10,000,000 – 3%
Above 10,000,000 – 5%
Please note that on weekends and holidays margin requirements remains the same.
SWAPS are counted as negative as positive. Also is available swap-free accounts.
STOP and LIMIT orders may be placed as close as 5 pips from market price
TRADING TERMINAL Meta Trader 4.
Clients can choose to have their accounts denominated in either USD, EUR, GBP, JPY, CHF, AUD or CAD.
Initial account opening deposit from US$2000. From first view it probably looks high comparing with other brokers who allow mini accounts and minimum initial deposit from USD250 but it is more useful and safer because clients are more protected from quick stop out and total loss of the initial deposit in the case if unfortunately it would be several unlucky trades in rage.
This is regular forex trading account however it is allowed trading in mini lots (from 0.1 lot).
Also I could introduce you to broker located in Austria that allow online trading currencies, commodities, metals and cfd on shares from the same account; total available more than 500 instruments. Account opening deposit is just US$150. FX leverage 1:100. Spread for currencies from 1 pip depending on trading amount; spread for shares from 5 pip.
If you are interesting I could introduce you to them please e-mail or PM me (press on my name) and I provide you with further information. Furthermore I could provide you for FREE with more than 50 trading e-books and trading systems that worth more than several thousand dollars and are very useful as for beginners as for experienced traders.
Good luck!