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Day traders online stockbroker

bajax

By bajax
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SaurusDNA Newbie

SaurusDNA

Posted
Posted

Hi please advise on recommended day trading online stockbroker? Tks

 

Well, I'm quite happy with Standard Bank Online Share Trading. They're a little bit heavy on fees, but they have all the tools, resources and frills any trader could wish for.

MrBean Newbie

MrBean

Posted
Posted

Just be aware there are some issues using GT247 MT5 - mainly because MT5 was designed for FX/ futures - which get traded more or less 24/5 with pretty low spreads.

1) You cannot place OR modify OR cancel orders when the market is closed - can be a huge issue when you have a buy order about to be hit and some nasty news comes out after hours...

2)The do not action stops on last traded price (like every other broker!!) - but on the buy or sell price. This can make a huge difference (especial on thinly trade counters) and actually makes a mockery of thier charts which operate on last trade price.

 

But they are the cheapest and with no minimums, you can start trading CFDs with a tiny account. But, for me anyway, have had to chuck auto stops out the window unfortunatly - and rather go manual. They also seem to have a better range of JSE counters to trade.

 

They are aware they have issues - and they do say they are trying to resolve them - so will see.

Stanton-AlgoTrading Newbie

Stanton-AlgoTrading

Posted
Posted

Definitely agree with your points.

 

I only trade FX and Futures so for me it works well.

 

I also try not to leave trades open over night due to the stop issue when the market is closed, but sometimes it has work out for me as trades have closed double what the take profit is.

But when it comes to stops it could be costly.

LentilSoup Newbie

LentilSoup

Posted
Posted

Not a day-trading question but can someone give me an idea of where to buy US Stocks?

 

I have one I am busy looking at but it is not available on the EE platform.

 

If you want to buy US stocks for investing then double check the EE platform, EasyEquities added us stocks a little while ago.

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