ETrade and execution time for UK equities

[ipoppy]

Hi,
I am looking for to open account with ETrade. I wonder where they are with time execution. I have heard some online brokers got problems in that department (some delay). How is their interface portfolio software; easy to use?
Generally I seek some pros and cons if any.
Thanks

 

[Slumdog]

Hi,
I am looking for to open account with ETrade. I wonder where they are with time execution. I have heard some online brokers got problems in that department (some delay). How is their interface portfolio software; easy to use?
Generally I seek some pros and cons if any.
Thanks

I use Etrade... You have to do 19 trades a month to get Level 2 and something like 5 to get the realtime charts and data... The charts are delayed 1 minute so I also have the IGindex charts which are realtime...(and free)... Never noticed a delay, but lately when the price moves in your favour during the trade countdown timer, the trade doesnt get executed (I think this never used to happen in the past)...

 

[Ciao]

hello just for info

last evening I have received an email from Etrade (see few lines that I copy-paste below... IMO say it all )

E*TRADE has decided to withdraw from the provision of local market trading services in the United Kingdom. As a result, and subject to your express consent, we will be transferring your account to TD Waterhouse, one of the UK’s leading online brokers.

:-0 I wander WHY?

isn't worth talking about them if they close down.... so be careful or see what they say....
I do use the etrade US (beside lately having some problem) I find very good and top platform etc.... but because of the above (closing UK) I think I might change the USA one.... financially they are not very solid!!!!
does anyone here trade with the USA one? would like to hear the comments thanks

 

[Slumdog]

hello just for info

last evening I have received an email from Etrade (see few lines that I copy-paste below... IMO say it all )

:-0 I wander WHY?

isn't worth talking about them if they close down.... so be careful or see what they say....
I do use the etrade US (beside lately having some problem) I find very good and top platform etc.... but because of the above (closing UK) I think I might change the USA one.... financially they are not very solid!!!!
does anyone here trade with the USA one? would like to hear the comments thanks

I got that too... I put a friend in touch with them about 4 weeks ago, and they wouldnt open her an account, and I called about spread betting and was told they have too many members applying, so couldnt open any new accounts... Thought it was strange turning customers away, and I joked with the guy that they were closing down...

 

[Slumdog]

Yep... spoke to them just now... UK operation and all other local offices apart from USA closing down in 2 months and we all off to TD waterhouse...


:O|

 

[ipoppy]

Thats bring the question; what if company like that will bankrupt? What is going to happened to your account and all that money there? Is there any some sort of insurance or law placed to protect you?

 

[Ciao]

Thats bring the question; what if company like that will bankrupt? What is going to happened to your account and all that money there? Is there any some sort of insurance or law placed to protect you?

sorry Ipoppy I don't know the English rule/regulation (I leave in Italy) but I think every bank are cover with some sort of insurance..... I know what in USA one his cover up to 100k$ I inform myself seen that I still hold an Etrade USA account... then of course there are a lot law that come into it....
but I am sure a better informed on the English law might help you... otherwise you have to read the small print in your bank policy where it say "yes" on one line and "no" the next..

 

[Ciao]

Yep... spoke to them just now... UK operation and all other local offices apart from USA closing down in 2 months and we all off to TD waterhouse...
:O|

hi Sdog....I got that as well do you know anything about then >> TDW? good to trade-platform-speed-etc...etc...
I know that few years ago they where in a not too good finance position themselves... last year Etrade close in Italy (very quite without letting out the news) we only had the USA trading account and got transferred in France (Paris) they say was administrative reasons!!! the beginning of the end

no one that I tried in the past open trading acc. to a foreigner not resident in the UK.
I got no alternative but try ATW....

 

[ipoppy]

Ciao,
Thanks for reply but I have not sign with Esignal anyway so I don't worry about current situation there. Just simply wonder what if. Regarding bank accounts, yes we are all protected in EU (I guess its £50K) but it seems that you actually transfer money from your bank onto brokers account. Thats not the bank account anymore and I think different rules applied there all together.

 

[Ciao]

I use Zecco in the US. Cheap commission and sometimes 10 free trades per month if you make 25 trades.

San Miguel thanks for the input... I reply here in order not to put too many O/T on the other thread....
few years ago I tried them (Zecco) but like many others didn't open USA trading acc. to those leaving outside US... are you American? or maybe they change their policy.

I know now there is more choice to open USA trading acc, leaving outside it.... I am looking for an alternative USA and UK but few that I hav etryed so far (only in USA) they haven't got nice platform-tools...

 

[Ciao]

Ciao,
Thanks for reply but I have not sign with Esignal anyway so I don't worry about current situation there. Just simply wonder what if. Regarding bank accounts, yes we are all protected in EU (I guess its £50K) but it seems that you actually transfer money from your bank onto brokers account. Thats not the bank account anymore and I think different rules applied there all together.

etrade or esignal? esignal is different one I am sure you know that

in my case it is a bit different (without getting into my privacy) because I day trade 90% in USA therefore having a trade acc there it help on trading and cheaper commissions as I trade(invest in London_Paris_Milan) it is easier to be able to do it in the actual country... so I got more banks then money but in the end it pays....

good luck anyway keep in touch whatever you chose....

I have to look into the Interative Broker as well
http://www.interactivebrokers.com/ibg/main.php

 

[SanMiguel]

San Miguel thanks for the input... I reply here in order not to put too many O/T on the other thread....
few years ago I tried them (Zecco) but like many others didn't open USA trading acc. to those leaving outside US... are you American? or maybe they change their policy.

I know now there is more choice to open USA trading acc, leaving outside it.... I am looking for an alternative USA and UK but few that I hav etryed so far (only in USA) they haven't got nice platform-tools...

I am fron the UK, they have foreign accounts though I am warning you the process is not the most speedy, it will take you at least 5 days to setup the account and if you make a mistake on the form (due to stringent US regulations you can't even but Joe Bloggs on one form and J Bloggs on the other ) they will reject it taking a further few days to process. Then to transfer from a UK bank will cost you a little in transferring money abroad but not much + the exchange rate (bank's exchange rate not the market one). On the whole, Zecco's customer service is worth it, they have margin accounts if you want, a help forum, etc. etc.

BTW, if you want to day trade with a US broker (classed as 4 round trips per week), then you need a $25k account. 4 round trips means a BUY and SELL in 1 day. If you BUY one day, SELL the next, that is not a day trade and you account can be any size.

 

[Ciao]

I am fron the UK, they have foreign accounts though I am warning you the process is not the most speedy, it will take you at least 5 days to setup the account and if you make a mistake on the form (due to stringent US regulations you can't even but Joe Bloggs on one form and J Bloggs on the other ) they will reject it taking a further few days to process. Then to transfer from a UK bank will cost you a little in transferring money abroad but not much + the exchange rate (bank's exchange rate not the market one). On the whole, Zecco's customer service is worth it, they have margin accounts if you want, a help forum, etc. etc.

BTW, if you want to day trade with a US broker (classed as 4 round trips per week), then you need a $25k account. 4 round trips means a BUY and SELL in 1 day. If you BUY one day, SELL the next, that is not a day trade and you account can be any size.

you done your homework.... thanks SM but I do hold(over 2 years now) a trading USA acc, (day trading) I am still learning about their rule/regulations too many IMO... at the beginning I got done on the 90days restriction etc... I wasn't use to that
what I am looking for now it is a new broker to transfer my USA Etrade acc..... IMO if they close Europe must be getting serious,,, JMO tho
as I am a daytrader/scalper I haven't found someone with as nice platform yet.... have to try the Interative one ,,, heard good report...

 

[ipoppy]

etrade or esignal?

Sorry, I meant Etrade of course

 

[Slumdog]

hi Sdog....I got that as well do you know anything about then >> TDW? good to trade-platform-speed-etc...etc...
I know that few years ago they where in a not too good finance position themselves... last year Etrade close in Italy (very quite without letting out the news) we only had the USA trading account and got transferred in France (Paris) they say was administrative reasons!!! the beginning of the end

no one that I tried in the past open trading acc. to a foreigner not resident in the UK.
I got no alternative but try ATW....

Hi

From what I've seen Barclays BARX platform looks better and the cost better than TDWaterhouse... Go to Barclays stockbroker website and look at the information there... ISA Account migrations might be longer if you dont go TDW as they are doing them over a weekend as the accounts were sold to TDW and the changeover avoids usual regulations...