Where do you trade stocks?

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apoel81
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apoel81

Where do you trade stocks?
« on: January 03, 2021, 12:01:22 PM »
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I am looking for a cheap and trusted broker to start investing in stocks.

I am aware of many of those brokers but reviews on net are confusing me.

Is there a reputable giant broker with low commissions like we have pinnacle for betting?

I was planning to use Interactive Brokers but saw many negative reviews about them that pushed me off for now.

Also, is there anyone who opened trading account via bank and can name the bank?

Would prefer that route but my bank has 200 euro minimum charge per trade and i think it is too expensive.

Last question, are trading accounts opened via banks, more secure than online brokers?

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arctrading
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Re: Where do you trade stocks?
« Reply #1 on: January 03, 2021, 01:50:13 PM »
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I am looking for a cheap and trusted broker to start investing in stocks.

I am aware of many of those brokers but reviews on net are confusing me.

Is there a reputable giant broker with low commissions like we have pinnacle for betting?

I was planning to use Interactive Brokers but saw many negative reviews about them that pushed me off for now.

Also, is there anyone who opened trading account via bank and can name the bank?

Would prefer that route but my bank has 200 euro minimum charge per trade and i think it is too expensive.

Last question, are trading accounts opened via banks, more secure than online brokers?

May i ask what information you read about IB that discouraged you to not open account with them? Just curious as im using it myself and no problems so far. But for a person residing in EU, IB is on top 3.

Its hard to give advice on bank simply because without knowing your residency, cant really suggest anything. Altough 200 eur per trade is way too much :D Its usually 1% with minimum 10€ fee (if you buy stocks for 100€ then fee is 10€ not 1€).

For the last question, that depends again on the country you reside. In some countries yes but overall in EU all banks are covered with 100k protection + the fact that you, as a person, own those stocks and not the bank. So even if your broker/bank goes bust, the shares are still listed on exchange under your name and not on your banks name. The bank/broker is what it is, just a middleman. But for security and investor protection, that depends on the country/region you reside :)
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apoel81
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Re: Where do you trade stocks?
« Reply #2 on: January 03, 2021, 02:18:05 PM »
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Was reading these reviews yesterday:

https://www.forexpeacearmy.com/forex-reviews/113/interactivebrokers-stock-broker

My bank commissions (Cyprus) are those below:

https://imgur.com/a/KSXnEXX

The cheapest local bank commission in Cyprus has 100 euro minimum charge per trade.

On average, how much commission you pay for a 2-3k euro trades?
« Last Edit: January 03, 2021, 02:21:46 PM by apoel81 » Logged
arctrading
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Re: Where do you trade stocks?
« Reply #3 on: January 03, 2021, 10:37:46 PM »
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Was reading these reviews yesterday:

https://www.forexpeacearmy.com/forex-reviews/113/interactivebrokers-stock-broker

My bank commissions (Cyprus) are those below:

https://imgur.com/a/KSXnEXX

The cheapest local bank commission in Cyprus has 100 euro minimum charge per trade.

On average, how much commission you pay for a 2-3k euro trades?

Bank buy stock com..PNG This is the commission i pay by making a buy transaction via my bank. The same fee applies by selling the stock also. The bank you have in Cyprus seems like only focuses on HNWI  by looking their fees :D

Regarding the forexpeace army reviews then i would not take those really seriously. Quoting one of the 1 star reviews:

"For sure they rob your money. They Rob small retail traders and help the big sharks to profit.

I lost all my hard earned money.
They developed an AI algorithm which tracks the small retail traders finds out their stop loss zone or their preset to hit the stop loss.

The moment you get stopped out, you can see level At level 2 and Tape the price will fly.

My expensive lesson learned: don’t get attracted by low commissions. This people are really high tech robbers."

This is a problem of the investor and not the broker but such reviews were common when i read those.

The only problems i am aware of are with clients who have accounts under their business. If you open account for business then IB are extra careful because of the institutional client stuff. If you want to operate as an individual(not a business) then no problems. The people i am reffering to have around 10k-100k in their IB personal account and no problems whatsoever.
The bureaucracy is yes a bit too much but this is all because of regulations. Believe me, when you apply for business account it get 3x worse :D

IMO IB is a real good to go but i am no financial adviser so take everything with salt :)


* Bank buy stock com..PNG (6.6 kB, 470x303 - viewed 150 times.)
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gamblehappier
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Re: Where do you trade stocks?
« Reply #4 on: January 04, 2021, 02:36:25 AM »
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I personally use Interactive brokers,etoro(small amount,do not use this broker) and Revolut.
Degiro is also good.

My favourite is of course Interactive,because it has great analysis,especially if you are a trader.You will find a ton of stocks as it has a big variety.Take point that they charge extra for live price stocks(they also have some other fees)

At eurochosebroker Interactive is one of the best.Commissions and margin account(which i personally use) are extremely low

Revolut is also good but not so professional as Interactive Brokers and of course with a small number of stocks.
Revolut is clearly the easiest broker to use.Hope it helps. ;)




« Last Edit: January 04, 2021, 02:46:16 AM by gamblehappier » Logged

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apoel81
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apoel81

Re: Where do you trade stocks?
« Reply #5 on: January 04, 2021, 09:01:25 AM »
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Thanks for help guys, will start from IB and see how it goes
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