Hi /biz/ !
My first post here. I am fond of long introductions but I will try to make this thread as short as possible.
I want to invest in stocks ( politely asking to step back from advising me to hold back because now is not the right time for longs etc). I am form Eastern Europe and want to buy stocks represented in NYSE and NASDAQ. What is the best electronic platform (without a broker as a mediator) to do that? I want quick orders and an option for short sales (nope, this has nothing to do with the glooming crisis)
What are the basic requirements - where do I have to open account, what money transfer system I have to use?
I am asking this because Google is filled with ads and there is no normal way to filter out best fits for my needs.
I have previously only uses BATS exchange and Howthemarketworks.com platform. Only virtual cash. Sorry
Well, I am not a broker.
Also banks in my country do not have very good electronic platforms and require bunch of bureaucratic bullshit in order to use their platform. I am looking for more democratic version.
>Well, I am not a broker.
I am sorry for my interpuction, I use my bank as a broker. Meaning I give them orders to buy and sell particular stock.
>Also banks in my country do not have very good electronic platforms and require bunch of bureaucratic bullshit in order to use their platform.
If you do not understand or have no interest in understanding bureaucratic bullshit, you're gonna burn yourself very fast.
I have read banks inside protocols of trading via brokerage - most of them state that my broker cashes in commission and can override my decision. I don't want any of this meaning I don't want a broker to deal with. I am searching purely for an electronic platform. Also my banks take up to two days to perform an order. That is too much time for a volatile market because for now I am not interested in long term investment.
Well, not available in Latvia.
The only solid working platform we have here is DnB bank and it performs an order in an hour. Not so cool though. Every other bank uses brokers. Also we have many small online platforms which store cash in their own accounts and pay it out later (sometimes they hold to it) so these small scam-like platforms are shit.
>The only solid working platform we have here is DnB bank and it performs an order in an hour.
I do not believe that, especially not for DnB. If you are buying on NASDAQ and NYSE the order will be fulfilled in the time the exchanges are opened in America. If however the home exchange, I reckon for DnB it is Oslo, is closed then you'll have to wait till it is open so the order could be dealt with.