Recently I’m interested in US market since Malaysia seems so weird even during MCO. I found these 2 broker and trying to open an account with these 2 to see which suit me more. I’ve dealing with them for a month and I would like to share my experience here.


TD Ameritrade SG
I tried to open an account with them but during the online registration there is a issue with so I emailed them but they too many days to reply even with a simple question. Maybe is because of Singapore currently in CB situation (Even before CB they reply slow too). Anyway I’ve done creating account just waiting for approval so I tried Paper Trading with my account that doesn’t need approval which you can use immediately. Their thinkorswim apps is kinda hard to use which is not user friendly if this is your first time trying to connect yourself into the US market you will vomit when trying their apps. What attracts me is the review from a few website. Who using TD here can share more? Since my real account is not approved yet.


E*Trade
I saw someone introduce E*Trade from one of the user in this forum and I tried to register online but too bad they only let US Citizen to register online so you need to download the registration form and W8-BEN form to fill in and mail to US including a copy of your Passport which is consuming more of your time. I’ve already filled in all the detail and prepared the document but not yet mail it since MCO now. I got play with their apps and its seem more user friendly compare to TD but I not sure since I cant fully access without an account here. Anyone who have E*Trade account here can share your experience? Trying to compare this 2 broker to see which is better.


I found out that when you register for TD they only have individual margin account and for E*Trade you will have to apply manually when filling the form.

This post has been edited by Josephtky725: May 9 2020, 11:49 PM

You need to be careful with US Tax regulation. It is very complicated.

This post has been edited by andrianchan: May 9 2020, 11:51 PM

But I am not US citizen and most importantly I did submit my W8-BEN form. Correct me if I am wrong

Park

why dont u open one with the banks here. easier

Use Tradestation Global to open an Interactive Brokers account

I in the process to open TD ame, I have people provide me guide how to open, I have a few friends recently open and start trading.
what to key in, what cannot key in.
plus special discount trade on the fee

Forget about TD or etrade. Just use interactive broker.
https://forum.lowyat.net/topic/4843925

Open using tradestation global so you don't need to pay inactivity fees of usd10/month.

TD is best

Maybe in terms of interface but definitely not cost.

hi!, could you share your guidance? tqvm!

Brokerage Cost and Delayed Data~

I forgot to mention that I have HLe Foreign account but local banks charges are so expensive. Brokerage cost around USD25 - USD55 < Minimum charges so if you know how to do the calculation of course this charges will impact your profit from your foreign account.

Thanks bro, I will do some homework on Tradestation. I see their charges is cheap too, minimum USD 1.5 and per share only 0.007. How about registration, will take some time to wait?
Ohh and whats the different between IB and Tradestation? That time I saw IB before but put it aside since they charge inactivity fees.

Yup totally agree haha

This post has been edited by Josephtky725: May 11 2020, 01:39 AM

how does TDameritrade earn money if their stocks and ETFs are free?

It's all online. Takes 1-2 days. Mine time up and running in one day.
Tradestation global (there's a difference between tradestation and tradestation global. You will want to go with tradestation global)
Tradestation global
- think of it like yoodo. They rent infrastructure from celcom
- slightly higher commission than pure IB but still 70-80% cheaper than malaysian or TD in exchange for no inactivity fees
- difference in price between pure IB and TSG is the profit that IB earns
- no access to tiered pricing of IB (cheapest option at few cents per transaction)

IB
- have tiered pricing (cheapest option at few cents per transaction)
- have inactivity fees.

only U.S. account free...others still pay

most ppl trade options on tdameritrade which is not free... they have best tools for it

depends lah...

if trade options & futures... tdameritrade is only about $1 more expensive than ibkr, with free live data to boot... so nothing to it really

but ibkr needs 30-40% more margins to get started and ties up your funds...

you can buy more on say tdameritrade than ibkr with the same amount of big capital...if you have limited capital you can't even start a trade on ibkr...

in this sense it cost more to trade on ibkr...lol

so it depends lah what you wanna trade...

You are right regarding margins required for futures, so much more compared to even local brokers

It seems to transfer funds is quite limited though, Electronic transfer only for DBS/POSB account holders. I only have CIMB SG

The rest seems a little troublesome or am i missing something

You can transfer using FAST transfer.

For TDA as well ?

I am using IBKR already