online stock brokers - basic question

[AmDaMan]

Hi Chaps,

Just a real basic question for you market traders out there;

How did you select your online broker? My situation is that I’m currently residing in NZ but I’m a UK citizen, the NZ brokers are awful (platforms and fees), I’ve been looking at the likes of E*Trade and TD which seem to be American based brokers. My understanding is that they don’t generally offer membership to non-US residents or they make it pretty difficult. Is this correct? If so is it worth going to those lengths to use the platform?

I’m currently using plus500 which is pretty basic but seems to do the job. The fees are dealt with by spread which isn’t too bad but the charting and analysis is a bit basic.

Is it ok for me to be using Plus500 in NZ from a NZ bank account (I’m thinking of tax)?
Is it worth the hassle of registering with a US platform?
Or should I stick it out with Plus500 and use web based charting / fundamentals?

Any help appreciated.

Cheers

 

[AmDaMan]

I've not considered spread betting, i'll do some research on it later.

Dowie - I will be looking to trade shares, I would like access to international martkets if possible as well.

Plus500 seems to offer pip based spreads as their commision rather than flat fees like some of the other big brokers. I'm quite used to their platform now though but I want to set up properly on a well known / respected broker now if P500 isn't recommended.

I was looking at Bloombergs / NASDAQ's online charting and data and it looked very good, it would be great if I had a platform that embedded that. My strategy will be relying heavily on technical analysis so I need good intuitive charting and data tools.

Cheers