Forum Archive Index - December 2002

["Allan Potts" <ajp7079@excite.com>]

Hi again from the U.S. With my ACCESS internet brokerage all the shares are held in our names, NOT IN THE BROKERS NAME. NZSE now has a system where everything is done electronically with CSN (customer service numbers) and I believe this eliminates the loss where an individual broker goes broke. Any verification of my thoughts from, on the ground Kiwi's?? Allan --- On Tue 12/17, Hans van der Voorn vandervoorn@xtra.co.nz wrote:From: Hans van der Voorn [mailto: vandervoorn@xtra.co.nz]To: sharechat@sharechat.co.nzDate: Wed, 18 Dec 2002 11:27:44 +1300Subject: Re: [sharechat] Markets - Overseas internet brokers

A general question on overseas internet brokers: What is the security of the funds sent to the brokers? As I see it you could end up giving them a lot of money and not necessarily getting anything back. The stocks are purchased on your behalf but presumably remain registered in the brokers name. If they go broke are you any better off than an unsecured creditor?

 

Some of you may remember a company called Goldcorp in the 80s which held gold on investors' behalf, except that at the end there wasn't quite enough gold to go around.

 

I've been using a full service local broker for overseas trades. It's very convenient in terms of handling the funds but inconvenient in (mostly) not being able to deal when the market's open (in summer there's a window for the US market in the morning), plus the brokerage is higher. In the UK it has been totally unsatisfactory to the point where I have sold everything I had there.

 

Any comments or suggestions for either the US or UK would be welcome.

 

 

Hans

----- Original Message -----

From: Allan Potts

To: sharechat@sharechat.co.nz

Sent: Wednesday, December 18, 2002 9:37 AM

Subject: RE: [sharechat] Markets

Hi from the U.S.I like, and have personally used Brown Co. for many years. $5.00 U.S. for a market order, $10.00 U.S. for a limit order. Good research within the site. Do not know, however what overseas investors must do to set up an account. Their site is http://brown3.com/ Please look at it, probably will answer all your questions. If you get stuck, e mail me and I'll call them in your behalf and obtain your required answers, e mailing you back.Good luck.Allan--- On Tue 12/17, Holden Glova dsafari@paradise.net.nz wrote:From: Holden Glova [mailto: dsafari@paradise.net.nz]To: sharechat@sharechat.co.nzDate: Tue, 17 Dec 2002 21:23:41 +1300Subject: [sharechat] Markets-----BEGIN PGP SIGNED MESSAGE-----Hash: SHA1Hi all,I've been spending lots and lots of time reading and pouring over charts (sometimes coffee) and I have come the conclusion that the NYSE looks easier to TA then the ASX. The candles seem to follow "the rules" more often. It does however look more volatile which can work with or against you. I am interested in anyones opinions and thoughts on this. Also, if you where to trade online in the USA what is involved to setup an account? Anywhere you would recommend using? I had a quick look over ameritrade.com but thought i would ask first.Many thanks in advance for your comments.- -- Signed,Holden Glova-----BEGIN PGP SIGNATURE-----Version: GnuPG v1.0.7 (GNU/Linux)iD8DBQE9/t8N0X8w8X71zPcRAkLJAJ9bMMd1KJ974ZWMFE1zD26bryqQcgCfbk8dAMbCf/qvs2gga/HTuJvTuD4==hhBg-----END PGP SIGNATURE---------------------------------------------------------------------------------To remove yourself from this list, please use the form athttp://www.sharechat.co.nz/chat/forum/

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