saving on brokerage (trader dealer), page-8

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    Hi Kooke,

    TraderDealer, Amscot and Minc are all end of day (eod) contract brokers and offer the same service. I trade with Minc and find them good. Their Iress platform is the best I have come across. It is full featured and has the live Excel interface provided for free. That's where the live data for my daytraders chart arrays comes from. They also provide T+3 trading and margin lending from Leveraged Equities which I also recommend. IMO MarketAnaliser is nowhere near as good as Iress.

    You only benefit from a eod contract broker if you trade much on specific stocks. For example if you buy or sell $200k of bhp each day total then you pay only 0.0165% brokerage. (7 x less than Commsec) But if you mostly trade small caps and less than $33k/stock per day then the brokerage is about the same as Commsec (~0.11%) For small cap trading you get a better deal from IG ($8/trade or 0.1%). You can also short at IG but not with eod brokers.

    Hope this helps.
    cheers...
 
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