|
Thanks Allan, that's very helpful.
Hans
----- Original Message -----
Sent: Wednesday, December 18, 2002 5:50
PM
Subject: Re: [sharechat] Markets -
Overseas internet brokers
Hello Hans, What you should look for is finding an internet
broker that has accounts insured by SIPC, which I believe stands for
Securities Investor Protection Corp. Brown (the co. I use) had their accounts
insured for $25,000,000 of which $100,000 may be in cash. I say had, because I
looked into my original folder and that's what it was when I started many
years ago. Things could have changed, most probably with higher limits. Since
these figures are for each account, and I'm not approaching the limits I
haven't kept up with the latest figures. The site which I quoted on an earlier
post will have that info. If you have trouble finding it let me know and I'll
get it for you. This way if the broker goes broke or someone runs off with all
the securities the insurance company makes good for it. Good hunting, 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 17:13:11 +1300Subject: Re:
[sharechat] Markets - Overseas internet brokers
Hi Allan, Actually I was more interested in the
US and UK brokers. Does anyone worry about the security of their money
when they hand it over to an internet broker in the US, or is it not
considered to be an issue there.
Hans
----- Original Message -----
Sent: Wednesday, December 18, 2002 2:14
PM
Subject: Re: [sharechat] Markets -
Overseas internet brokers
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 -----
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/
Join Excite! - http://www.excite.comThe most personalized portal on
the Web!
Join Excite! - http://www.excite.comThe most personalized portal on
the Web!
Join Excite! - http://www.excite.com
The most personalized portal on
the Web!
|
See IRG research reports
