ghost_eclipse
New member
I have been doing a lot of research on different brokerages however after months of analysing, I still can’t determine what brokerage to go with because reviews vary from source to source and just when I’m prepared to settle with a brokerage, I see someone reviewing the brokerage as being a “complete scam”, “stealing your money”, “not working”, “poor functionality”, “customer support is non-existent”.
Brokerages I have looked over:
At the moment, I have no clue with brokerage to go with for international stocks, particularly US stocks so if anyone could give some advice, that would be fantastic.
Edit: Thank you all for your responses and currently have it narrowed down to IG, IB and Stake.
IG was easy to set up however I’m not sure if you can actually trade and own stocks or it’s only CFD for International stocks so will double check that in the morning.
Interactive Brokers is quite the pain to set up for me because I’m an 18 y/o uni student and the requirement to trade on IB is that you have to >$23k in USD which is like $30k AUD which I don’t have at all. You are also expected to have “good/great knowledge of the market” in order to be applicable to trade which as a beginner investor/trader, I don’t think I’m quite there. There’s also a lot of paperwork (legal documents and Terms and Conditions) that you have to (well should) read over before you can get started so I will do that later in the week when I have more time.
The UI on Stake is the most stunning I have ever seen or used on any brokerage so far and so easy to manoeuvre around so as a result, I am currently leaning towards Stake.
I have had an account with Stake for quite a while now just never transferred any money in so probably be doing that next week or so to see how it goes.
Edit 2: I have narrowed it down to IB and Stake. I still have a bit of trouble navigating IB so until I know the ins and outs of the platform, will be depositing money into Stake first and see how we go from there (I have had a Stake account for around 3 months now so I know the platform pretty well and it’s quite a simple platform too - beginner friendly)
Brokerages I have looked over:
- CMC Markets (terrible reviews on App Store)
- IG Trading (reviewers say it’s a complete scam, takes weeks to withdraw your money and terrible experience with customer support)
- Saxo Capital (terrible reviews)
- Stake (customer support is non existent)
- Interactive Brokers (terrible reviews on App Store)
- Big 4 Banks (too much paperwork and too expensive)
- eToro (heard from too many people that say it’s a scam)
At the moment, I have no clue with brokerage to go with for international stocks, particularly US stocks so if anyone could give some advice, that would be fantastic.
Edit: Thank you all for your responses and currently have it narrowed down to IG, IB and Stake.
IG was easy to set up however I’m not sure if you can actually trade and own stocks or it’s only CFD for International stocks so will double check that in the morning.
Interactive Brokers is quite the pain to set up for me because I’m an 18 y/o uni student and the requirement to trade on IB is that you have to >$23k in USD which is like $30k AUD which I don’t have at all. You are also expected to have “good/great knowledge of the market” in order to be applicable to trade which as a beginner investor/trader, I don’t think I’m quite there. There’s also a lot of paperwork (legal documents and Terms and Conditions) that you have to (well should) read over before you can get started so I will do that later in the week when I have more time.
The UI on Stake is the most stunning I have ever seen or used on any brokerage so far and so easy to manoeuvre around so as a result, I am currently leaning towards Stake.
I have had an account with Stake for quite a while now just never transferred any money in so probably be doing that next week or so to see how it goes.
Edit 2: I have narrowed it down to IB and Stake. I still have a bit of trouble navigating IB so until I know the ins and outs of the platform, will be depositing money into Stake first and see how we go from there (I have had a Stake account for around 3 months now so I know the platform pretty well and it’s quite a simple platform too - beginner friendly)