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 TD Ameritrade Vs E*Trade, Anyone deal with these two before?

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Ramjade
post May 10 2020, 10:12 AM

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QUOTE(Josephtky725 @ May 9 2020, 11:48 PM)
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.
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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.
Ramjade
post May 10 2020, 11:17 AM

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QUOTE(frankliew @ May 10 2020, 10:29 AM)
TD is best
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Maybe in terms of interface but definitely not cost.
Ramjade
post May 11 2020, 09:51 AM

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QUOTE(Josephtky725 @ May 11 2020, 01:36 AM)
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
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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.
Ramjade
post May 11 2020, 02:21 PM

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QUOTE(Krv23490 @ May 11 2020, 12:33 PM)
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 sad.gif

The rest seems a little troublesome or am i missing something
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You can transfer using FAST transfer.
Ramjade
post May 11 2020, 02:59 PM

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QUOTE(Krv23490 @ May 11 2020, 02:26 PM)
For TDA as well ?

I am using IBKR already
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Not sure for TD. No account with TD
Ramjade
post May 11 2020, 05:07 PM

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QUOTE(Josephtky725 @ May 11 2020, 03:45 PM)
1. What is tiered pricing?
2. Can Tradestation trade HK market like IB?
3. Yesterday I do some research on Tradestation website regarding their live date. Did they charge for live data and whats the difference between Level 1-3 data?
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1. https://www.interactivebrokers.com/en/index...f=1590&p=stocks
2. Of course can. It's basically IB. You just sign up using tradestation global then you login, fund, buy and sell using IB website / IB TWS. You don't deal with tradestation global anymore other than initial opening.
3.IB never have live data. You want live data you pay for it.
Ramjade
post Sep 8 2020, 03:52 PM

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QUOTE(bmwcaddy @ Sep 8 2020, 03:23 PM)
Regarding the $0 commission for TDA, is this applicable for Malaysians funding the account from MYR?
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TD does not accept transfer my Malaysia. (Eg using Ibft)
You can only deposit into TD uset legrapgic transfer.

0% commission is trades carry out on TD. Doesn't matter how you fund it.
Ramjade
post Sep 8 2020, 08:05 PM

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QUOTE(bmwcaddy @ Sep 8 2020, 04:17 PM)
so the only Fees i pay are the foreign telegraphic transfer (say Maybank to TDA)?

Afterwards, there's no fee for trading/buy & sell at TDA until I withdraw?
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You pay TT fees, markup fees by maybank (both ways)
After that all trading is free.
When you withdraw, it cost USD25/withdrawal.

 

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