so...what's the recommended broker 4 a newbie...tt wants 2 start small 1st?...

I had just open an account wif Firstrade. So far so good, sometimes slow. But thats ok, as long as I am able to submit order to buy. Their email customer service suck but their live chat is alright.
Pertrade is 6.95, No min. But i suggest if u wanna trade US stock, put in at least RM5k and above because it will not be worth it to put in so lil. You will need to pay TT, then pay pertrade buy, pay pertrade sell, pay transfer money back to Msia and can only buy very lil you can hardly feel when it raise or drop, better dont trade i feel coz end up losing more money.

For TT....very easy. Just ask the bank for a TT form and just fill it in. If dunno how, ask the banker to help you. Money usually will be in within 1-2days. I use Citibank, money in within 2-3 working days.

Maybank can do online TT, sometimes more than 5 days but sometimes on the day itself(Morning TT, at night oredi into trading acc) If dunno how to fill in the online TT form, call maybank.

This post has been edited by mIssfROGY: May 15 2009, 10:34 AM

MissyFroggy:
1st ques: Why you call FirsTrade as Pertrade ? Or is Pertrade is actually another broker?

If this is Firstrade, did you get your 100 free trades offer?

I think Pertrade should be "per trade", 'per trade is 6.95'.

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Isn't Firstrade safe?
The comm rates for price under $2 share different, rite? How?

Oppss. thanks for clarification. For a moment, I wasn't reading correctly what M.Froggy wrote.

As long FirstTrade is regulated with SIPC, it should be safe.

Where did you see the comm rates for $2? URL?

ya.. show at the right in commision page, * n small word.
tat's a condition for buying at or under $2 share; over 5000 shares will add $0.005 per share to entire order. let say buy 6000 shares at $2, will be $6.95+(6000*0.005). These I just ask from their live chat. But forgot to ask how if i make it in 2 order, 3000+3000 shares.

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Since there is make to another party "Ridge Clearing" when we fund them, not Firstrade; isn't ok?

This post has been edited by ckyan: May 16 2009, 02:29 AM

HAha...ops.... yaya its Per trade i mean Oh...i didnt buy any shares during the 1st 30days....tat 100 free trades only applicable for 1st 30days after account open. I wasnt ready to buy yet during that time...so..

As for below $2 shares...not sure, havent bought anything below 2bucks yet..HAHAHA tho i am waiting for CITI to drop that much again *wishful thinking* so if that ever happens, i will tell u how they cal

Hmm...did some research, firstrade i guess ok kua ler....
so far i funded twice....money all in. Actually if the amount of money you want to invest is large, i guess open few brokers. But for small amount, I dont think they will bother to con us kua.

There is always a risk especially online dealing with money...even a BIG BANK can lose your money and not be responsible for it (hiee..got case ler..i was shock also when hear this), wat else some trading platform..

6.95 is really cheap..
my dad buy USD20 and sell also USD 20 minimum with Kenanga
I say why not go online..
he say dont trust.. cause cannot see anything.. dont even know how to speak to the remisier cause my dad speak hokkien...

I decide to open acc with Firstrade, since almost half rates compare to optionsxpress..



This post has been edited by ckyan: May 16 2009, 02:14 PM

Not all online trading are cheap. It really depends on what these trading platform are offering. But sometimes they r just purely expensive without much explanation.
And its the technology world liao. We really cant expect our parents to trust doing anything that they cant see...hehe, they are used to "SEE AND FEEL" with hardcopy statements and such.
But we ourselves really need to evolve coz its a global competition oredi where we can get better deals out there.

Btw, these online trading companies earn a lot by commission and etc...they dun need to con us our little money.
The more ppl they get to use their trading system, the more they can earn. Dont think they will make a bad name for themselves by conning anyone if they have been around for sometime.
Their system is also expensive to buy....but it save them alot of cost in the long run like fewer employees needed to run the show and also smaller office space.
But yes online trading does have a very huge risk, but so is offline trading.
If really want to con, kenanga also can con. Look at madoff's case, not really same scenario but u know wat i mean.
In short...there is a risk in everything, just whether we walk right into it or not.
So all we can do is do more research on what we r doing...if really kena also.....then too bad


CKYAN: haha..i saw your statement be4 u changed to zzzz....y la...lol!!

This post has been edited by mIssfROGY: May 16 2009, 02:15 PM

i just fill up the form in their page and come to 1 section where they ask to print out and sign and send back to them via hardcopy..
how you manage to get your account?

frogy:
hahahaha.. cause i decide to send the form to them for open acc, no online application. think to ask them first how tis introduce plan works..
Haha.. or u tell me?

Oh..just sign n fax back to them. U opening firstrade? Put me as intro la...then we share share the commission! ahhaha...if u wan la..
Ok let me refresh...
1. Sign all those need to sign, I think there was 2 forms.
2. 1 of the form + passport to fax/email as softcopy back to them
3. Another form W8-ben form, i used reg mail to send back to them coz they need it HARDCOPY. Reg mail around 6bucks.
4. Can actually fund the acc and start buying oredi, but i waited until they got my W8-ben form coz i wanted everything to be there. If u buy the shares 1st be4 they get the W8-ben form, they will "keep" 28% i think, for all your trades until they get the form from you. They will re-imburse back to u after they get the form.
5. Start funding loo..i went to citi and ask them to kautim for me only the TT. Very easy. If not maybank online also easy, fill in the TT form online but hor.....i find it sometimes very unstable. I kena be4 the funds didnt go thru until 5 working days later!! but sometimes dem fast...morning transfer, night go thru.....hiee...so i prefer citibank la..at least i know roughly when it will go thru.

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Added on May 16, 2009, 2:41 pmAHhaha....OIC.....yaya i oredi wrote there in my reply to virtualguy. U can refer

*this firstrade shd pay me to become their customer service manz.... Btw.....as i said, their email customer service sucks yar. If wanna tok, tok to their live chat, else make u impatient only waiting for their email. Be4 open acc, very fast, after open....gawd!!

Btw..hope u guys didnt choose firstrade becoz i said so woh....i am not gonna be responsible if anything happen arghhhh ...hahaha.....just that my feedback is so far so good, good for my normal use, btw, i m not a heavy trader, i am a buy n keep user but everyday monitor it like hawk...LOL..haha no system down be4...and i have neva used their real life streaming. I just see the price i wan, key in and wait for my order to go thru. So far system never been down.

This post has been edited by mIssfROGY: May 16 2009, 02:43 PM

So how u feel the connection n loading speed for Firstrade?
For me, they r faster than optionsxpress, ox sometimes very slow.
but i din hav acc yet, isn't same speed for condition after login?

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And so how to let u be introducer? haha.

This post has been edited by ckyan: May 16 2009, 02:54 PM

I feel after login its faster.
And..i realised that the speed thing, is 80% becoz of our internet speed and browser.
last time i use IE..it took me forever to load, now i use firefox....the speed improved 1000000%! and i wrote to complain that their speed was bad
Another thing is our streamyx line....get a better line if can. I m using 1mb, but i m not getting the greatest connection, was slower than be4 upgrading, but the pages still ok. So if get faster line, pages shd load quicker.
Ordering all....no prob. U order ...if the price hit....u will usually get your shares, unless they r not selling enuf for u to buy.


The introduce plan.....i also not sure....hahaha neva intro be4. Okok u can ask them Lol...but i think it will enter the introducer's acc. If u wan, u intro me..we can split?

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Added on May 16, 2009, 2:56 pmOh wat was needed yar? My name or account no? Did it say anything?

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Added on May 16, 2009, 3:05 pmoh btw...ckyan, u gonna send the application form? Y duwan to go thru online? Its easier n faster woh.
But if u send hardcopy to them, dun forget your passport, and both the forms. Not sure if i missed out anythin but i think thats basically it but remember to ask them if thats all they need.

This post has been edited by mIssfROGY: May 16 2009, 03:05 PM

thanks for the steps.. let me do it on monday night...

.. I might check out Firstrade too.. M.Froggy..look what you have done.
We're cheapy and enticed by cheap rates.

Aiks.....lol!
OKok...all firstrade kaki....lol! not good dont come after me beramai ramai woh

4 1sttrade...there is this statement...4 Form W8-BEN...

IMPORTANT: Please submit with your application a photocopy of your valid passport. The photocopy must show your photograph, personal information, and signature. If you do not have a valid passport, you can submit a photocopy of a government issued identification

i am plannin 2 send our IC 4 this purpose...but our IC dun hv any signature?...is tt OK?...

Actually, your IC should be acceptable but you may want to put a note to explain some of the annotation because
Malaysia IC doesn't explain what is FIRST NAME (Given Name) or LAST NAME (Family Name).
If you're Chinese, you have may a name like this: TAN AH KOW

They might think your Family Name is: KOW.

This post has been edited by danmooncake: May 18 2009, 10:25 PM