# What broker is everybody using?



## alwaysonit (6 Oct 2014)

What is the cheapest and safest broker that I can invest with as a European, other than Interactive Brokers?

I'm  not a tax resident of a country that has a tax treaty with USA and so  cannot fill out the W-8BEN and cannot open an IB account.

I've  opened an account with Saxo, and they're well established, but they  charge a 0.1% load when buying and selling from a European stock  exchange. I will be investing €500,000 so a fixed charge rather than a  percentage charge will likely benefit me.

I would also like a  broker that will allow me to invest in EUR, but pay my dividends (paid  in USD) into a sub account denominated in USD so as to avoid losing out  when the currency is converted.

http://the-international-investor.com/2 ... ck-brokers is where I've been getting information from so far.

I've  been trying to stick with large well-established brokers in the fear of  the broker failing and the investors being penalised. Am I being too  conservative here, or will assets be segregated and safe with all  brokers? I've seen a few people complaining about Morrough's brokers where they lost out, have steps been taken to ensure this can't happen again?


----------



## mercman (6 Oct 2014)

The only way that an investor can be sure of not losing but requiring the level of service you require would be to go through one of the large brokers. Saying all this you get what you pay for in this life. Somebody must pay for the offices they work from plus the wages the brokers earn.

I use Cantors. They do provide a good service but they are not free. One day you will realise that there is no such thing as a free lunch.


----------



## Steven Barrett (6 Oct 2014)

€500 on a €500,000 trade is hardly exorbitant


----------



## patrickjd (7 Oct 2014)

I use Goodbodys and they are exorbitantly expensive (I feel dirty after using them) but it is difficult to get a cheaper brokerage account that caters to the very infrequent user. Usually cheaper brokerage fees are cancelled out by inactivity fees and account mantainance charges. Wish we had the choices our American friends have.


----------



## JBinKC (16 Oct 2014)

I use 3 TD Ameritrade Fidelity and Interactive Brokers


----------



## dub_nerd (16 Oct 2014)

alwaysonit said:


> I've  opened an account with Saxo, and they're well established, but they  charge a 0.1% load when buying and selling from a European stock  exchange. I will be investing €500,000 so a fixed charge rather than a  percentage charge will likely benefit me.



I'm using Saxo too and I'm investing 6-figure sums, same as you. Compared to other brokers they seemed pretty low charges to me. Try buying shares on the ISE and get hit for the 1% government stamp duty. Now _those_ are real charges.


----------



## sector_001 (19 Oct 2014)

I use FXCMstocktrading.
They have a flat fee structure.


----------



## machu (23 Oct 2014)

What are peoples thoughts on IG stockbroking I have a spreadbetting account with them which I havent used in a while and now considering buying shares through them with a long term view,would they be the same as any online broker? it would save me setting up another account with a broker if they were as competitive as the rest.


----------



## He-Man (25 Oct 2014)

alwaysonit said:


> I'm  not a tax resident of a country that has a tax treaty with USA and so  cannot fill out the W-8BEN and cannot open an IB account.



Who told you this? I'm a resident of the UAE; there's no tax treaty with the US, but I was still able to open an account with Interactive Brokers.


----------



## Ravima (28 Oct 2014)

SVS in UK. The protection seems to be higher in UK after the Morrogh disaster.


----------

