Hello
Any thoughts or experiences with thinkorswim broker?
Regards,
Hello
Any thoughts or experiences with thinkorswim broker?
Regards,
I know they don't charge commissions, but what about spreads and daily interest accruals? Here is what their website says about the latter:
Charge: Fed Funds - 1.90%*
Debit: Fed Funds 5.45%**
* Interest paid on daily average balances over $500. Added schedule available for credit balances over $25,000.
** Added schedule available for debit balances over $50,000.
This sounds pretty insane for carrying shorts to another day - can anyone shed some light on carry-trading with those men? If I'm to be ass-raped such as this for holding AUD/USD brief overnight, then it is a huge red flag.
Those rates are for cash balances and stock margin debits, and they are very uncompetitive, that credit rate is basically zero. . (and it's zero for FX accounts there - Interest is paid on active positions not on resting money.) . Swap rates for currency pairs would collapse under a different table, they don't seem to show on their website. .
TOS is probably an ok shop, but InteractiveBrokers simply has the edge in each major class - commissions, goods, interest rates, FX spreads, etc..
Quality broker, great for options just fine for forex but they are the very best for choices and Tom the owner is a great guy