Singapore Expats

WD40,

I have a trade strategy for the SPY (s&p mini futures). Saxo is damn expensive (trade and margin wise). Do you have a platform you'd recommend as being cheaper?

Thanks.

PNGMK wrote: ↑

Thu, 24 Sep 2020 9:16 pm

WD40,

I have a trade strategy for the SPY (s&p mini futures). Saxo is damn expensive (trade and margin wise). Do you have a platform you'd recommend as being cheaper?

Thanks.

There’s inverse s&p etfs to go short the us index. Some offers 3x leverage.
ie. 1% move in s&p ~ 3% move in the etf

And there’s also etfs to go long. Up to 3x leverage too. Pick and choose, plenty.

Note: liquidity is key. Pointless if your bet is right but you have to cross a wide bid-offer spread just to enter/exit.


https://www.investopedia.com/articles/ ... xy-sds.asp

PNGMK wrote: ↑

Thu, 24 Sep 2020 9:16 pm

WD40,

I have a trade strategy for the SPY (s&p mini futures). Saxo is damn expensive (trade and margin wise). Do you have a platform you'd recommend as being cheaper?

Thanks.

Yes, Saxo is expensive. Interactive brokers is the best in terms of cost and product choices. It is very cheap to trade, however it is mainly for active traders. They want you to generate atleast $10 in commissions every month, if not they will charge you the difference every month. If your AUM with them crosses 100k USD, there is no minimum commission.

https://www.interactivebrokers.com.sg/e ... hp?f=47327

Since IBKR allows trading in stocks across world markets, you can consolidate all your holdings with them, by requesting a transfer of your assets from Australia, Singapore or anywhere else, so that it crosses 100k USD AUM

Also TD Ameritrade is good choice for US stocks and options, zero commissions. No futures or other countries stocks though. However they are overwhelmed with applications right now and people are waiting for more than a month for their account opening.

Tastyworks is cheaper in terms of commissions for US stocks and options. Their trending tools aren't great though

IBKR is a slow and ugly platform. I should clarify I want to trade /ES (S&P Mini Futures). They are on IBRK (not on Saxo). Does Tastyworks do that?

PNGMK wrote: ↑

Mon, 28 Sep 2020 5:12 pm

IBKR is a slow and ugly platform. I should clarify I want to trade /ES (S&P Mini Futures). They are on IBRK (not on Saxo). Does Tastyworks do that?

Search for "e-mini". This is screenshot from my saxo account. Make sure in the settings -> products, you choose futures.

IBKR desktop interface takes some getting used to. I mostly trade using their mobile TWS app.

Thanks WD40.

PNGMK wrote: ↑

Mon, 28 Sep 2020 5:12 pm

IBKR is a slow and ugly platform. I should clarify I want to trade /ES (S&P Mini Futures). They are on IBRK (not on Saxo). Does Tastyworks do that?

Yes. Although I haven't tried options. I opened the account bec Tastyworks and TDA are the only platforms that'll take US citizens without US address. Of them TW is cheaper. I used to be with Schwab but they left the country and kicked out everyone who had a brokerage account.

I don't like the IBKR interface at all.

PNGMK wrote:I don't like the IBKR interface at all.

Yeah, I have heard many people say that. There arent many good options here, like you have in the US(Robinhood?)

But overall IBKR does a great job in giving you access to all kinds of markets for very cheap. Their margin rates are also awesome.

Sent from my Redmi 10X using Tapatalk

Hi PNGMK,

There are 2 new SG brokers now, which you might find better than IBKR. They are supposed to be similar in features to Robinhood. There is promotion right now with both of them, so you can try.
1)Tiger
2)Moomoo

I just opened account with Moomoo, just to see how it is. You get a free AAPL share and $30 cash and level 2 market data for US for free and 3 months of no commissions. You need to deposit 2.7k.

You can use my referral if you decide to go for it:

https://j.moomoo.com/004Dxv

Cheers!

Thanks WD40. I'm way up with MOAT so far. Made more on it than salary.