timsk
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Hi All,
The immortal words of Messrs. Lennon and McCartney spring to mind: "Help!, I need somebody". I'm getting my trading knickers into a bit of a yuletide twist. I'm a wannabe U.S. day trader, primarily Nasdaq stocks. I'm a 'student' of both Naz and Mr. Charts who, for the record, I can recommend heartily to anyone wanting to trade this market.
Thus far I have only ever speadbet (Fin's to start with and latterly D4F) but, like many others before me, I have grown weary - very weary, of the gaping chasm between bid 'n' offer laughably called a spread, the skewed prices and the requotes. (N.B. I'm NOT inviting yet another debate on how, if or why spreadbet Co's bias their prices OR the pros and cons of trading coaches. Both subjects are covered extensively elsewhere). Funds are limited to about £3K, so direct access is not an option. Both Alan and Richard have suggested CFD's. Now, it appears to me that CFD providers fall into 2 camps: those that charge a monthly/annual fee plus commission on trades and those that are 'free' ho ho! Obviously the latter group make their money from a wider spread (read chasm) and skewed prices etc. and so it seems to me that if one elects for this group of providers one may as well stick with spreadbetting and reap the tax advantages. My sole motivation for wanting to switch from SB to CFD's is to trade prices which mirror the underlying instrument exactly - if possible. Assuming my basic understanding is correct, can anyone recommend a commission/fee based CFD provider who will open an account with my meagre amount of capital whilst not being prohibitively expensive?
Thanks in advance for any suggestions. Seasons greeting to one and all.
Tim.
The immortal words of Messrs. Lennon and McCartney spring to mind: "Help!, I need somebody". I'm getting my trading knickers into a bit of a yuletide twist. I'm a wannabe U.S. day trader, primarily Nasdaq stocks. I'm a 'student' of both Naz and Mr. Charts who, for the record, I can recommend heartily to anyone wanting to trade this market.
Thus far I have only ever speadbet (Fin's to start with and latterly D4F) but, like many others before me, I have grown weary - very weary, of the gaping chasm between bid 'n' offer laughably called a spread, the skewed prices and the requotes. (N.B. I'm NOT inviting yet another debate on how, if or why spreadbet Co's bias their prices OR the pros and cons of trading coaches. Both subjects are covered extensively elsewhere). Funds are limited to about £3K, so direct access is not an option. Both Alan and Richard have suggested CFD's. Now, it appears to me that CFD providers fall into 2 camps: those that charge a monthly/annual fee plus commission on trades and those that are 'free' ho ho! Obviously the latter group make their money from a wider spread (read chasm) and skewed prices etc. and so it seems to me that if one elects for this group of providers one may as well stick with spreadbetting and reap the tax advantages. My sole motivation for wanting to switch from SB to CFD's is to trade prices which mirror the underlying instrument exactly - if possible. Assuming my basic understanding is correct, can anyone recommend a commission/fee based CFD provider who will open an account with my meagre amount of capital whilst not being prohibitively expensive?
Thanks in advance for any suggestions. Seasons greeting to one and all.
Tim.