Crime tip-offs anonymously | Crimeline | Text 32211
The only thing necessary for the triumph of evil is for good men to do nothing. Edmund Burke
If you just want to play around, take a look at www.fin24.com
Slow as hell but you can get a feeling for trading stocks.
Can't remember by how much their data is behind, a lot of stock data is available, they do include a admin fee on each transaction (0.3%), but they do not look at volumes. (in a real system you can only sell/buy if their is enough stock volumes available)
Also take a look at the bloomberg app on blackberry. List all info on JSE stocks.
"Don't be in a hurry, Death will find you." - spiderz, 16/01/2014
Originally Posted by Chris_the_Brit
The problem with share trading is that it's quite a gamble. And to really make a good deal of money you've gotta put in quite a bit.
Investing in best stock trading will give you more benefits...Nowadays Online share trading provides an honest service to the client... the online trading has vie an important role within the trendy days by providing smart services like Pan Card, stock broking, mutual funds etc.
In short, not impressed. The platform is not a match for many free platforms out there offered by other brokers. Some essential basics are not available and I honestly cannot see how one could trade on that platform without having all those tools available.
The cost aspect is also a bit way out. I took the fees being charged by SB and calculated what it would have cost me to trade on their platform using the trades of my previous week. On the SB platform the cost came out to just under 15 times, yes you read that right, 15 times higher. Might not sound like that much but consider that I paid US$1,750 in fees and commission on my present platform, on SB's the costs would have been US$25,550. That is a difference of [at today's rate] R257,992 just in fees on one weeks trading. So SB will cost me a cool million per month more in fees.
The platform lacks some of the most basic trading tools, the spreads are among the highest I've seen, on top of that they also charge a commission plus an exchange fee for any currency traded which is not the same as your base currency. Leverage offered is to low resulting in high margins, trade execution speed is severely lacking with some trades taking up to 5 seconds to execute [this is a lifetime in the fx market]. And to cap it all they also charge an annual account maintenance fee which is calculated on your daily balance.
I did not factor the account maintenance fee and the exchange fee into my calculations. IMHO, this platform will kill any trading aspirations you have before you are even out of the gates. The fees alone will sink you never mind all the other things like slow trade execution, lack of vital information on margins etc..
Not trying to break their offering down, its about high time our banks start to offer these kind of services but have to say that as it stands now this must be one of the worse trading platforms I have seen in a long time and by far the most expensive I have ever seen.
The main reason for it being so popular is the fact that you can code your own indicators and or experts (trading robots). This allows you to customize and or develop your own trading strategies, indicators etc..
Share trading can also be done through the platform but it will depend on the broker you use. Not all brokers offer the share side of things on the platforms.