Monday, 11 July 2011

Search for a broker - continued

After further digging I've narrowed my broker search to 2
  1. Interactive Brokers - Cheapest broker around by a long way and offers access to more markets than any other provider. Downside is that you require 10k minimum initial deposit AND US$120 of trading costs per annum which isn't great for buy and hold investors like myself.
  2. OptionsXpress - Not cheap relative to other online brokers but a very very intuitive system which has customer service in my area (and more importantly time zone). Downside is that it only offers access to US markets. Upside is that it is a super intuitive system to use.
I'm leaning towards optionsxpress. I don't trade often enough for trading costs to really factor into my decision. Given that I am expanding my effort into the international arena - I think the US market will offer enough diversity to me.

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