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A general question on overseas internet
brokers: What is the security of the funds sent to the brokers? As I see it you
could end up giving them a lot of money and not necessarily getting anything
back. The stocks are purchased on your behalf but presumably remain registered
in the brokers name. If they go broke are you any better off than an unsecured
creditor?
Some of you may remember a company called Goldcorp
in the 80s which held gold on investors' behalf, except that at the
end there wasn't quite enough gold to go around.
I've been using a full service local broker for
overseas trades. It's very convenient in terms of handling the funds but
inconvenient in (mostly) not being able to deal when the market's open (in
summer there's a window for the US market in the morning), plus the brokerage is
higher. In the UK it has been totally unsatisfactory to the point where I have
sold everything I had there.
Any comments or suggestions for either the US or UK
would be welcome.
Hans
----- Original Message -----
Sent: Wednesday, December 18, 2002 9:37
AM
Subject: RE: [sharechat] Markets
Hi from the U.S.
I like, and have personally used Brown
Co. for many years. $5.00 U.S. for a market order, $10.00 U.S. for a limit
order. Good research within the site. Do not know, however what overseas
investors must do to set up an account. Their site is http://brown3.com/ Please look at it, probably
will answer all your questions. If you get stuck, e mail me and I'll call them
in your behalf and obtain your required answers, e mailing you
back.
Good luck.
Allan
--- On Tue 12/17, Holden Glova
dsafari@paradise.net.nz wrote:From: Holden Glova [mailto:
dsafari@paradise.net.nz]To: sharechat@sharechat.co.nzDate: Tue, 17 Dec 2002
21:23:41 +1300Subject: [sharechat] Markets-----BEGIN PGP SIGNED
MESSAGE-----Hash: SHA1Hi all,I've been spending lots and lots of time reading
and pouring over charts (sometimes coffee) and I have come the conclusion that
the NYSE looks easier to TA then the ASX. The candles seem to follow "the
rules" more often. It does however look more volatile which can work with or
against you. I am interested in anyones opinions and thoughts on this. Also,
if you where to trade online in the USA what is involved to setup an account?
Anywhere you would recommend using? I had a quick look over ameritrade.com but
thought i would ask first.Many thanks in advance for your comments.- --
Signed,Holden Glova-----BEGIN PGP SIGNATURE-----Version: GnuPG v1.0.7
(GNU/Linux)iD8DBQE9/t8N0X8w8X71zPcRAkLJAJ9bMMd1KJ974ZWMFE1zD26bryqQcgCfbk8dAMbCf/qvs2gga/HTuJvTuD4==hhBg-----END
PGP
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