markust

Dear Fellow Aussie Traders, I was wondering which broker you are using. I ask because it seems I haven't had much luck with the ones I had chosen. First, I was with Interactive Brokers, which apparently don't offer margin accounts for Australian residents (see the first topic I posted a while ago). I switched to Alliance Trader, which were fine so far, however, in March or so they told me that due to the current market situation, they will switch my account to a Cash account. That means that I can't short stocks or use margins, and any trade will reduce my buying power for the day - in short, this makes it impossible to trade. I have sent them an email, which they haven't responded to (yet). I was wondering if this is an Australian regulation because it seems no one else at BBT is affected (I couldn't find any thread about this in the forum). Thank you all in advance for your help! Cheers, Markus

Hi guys, I was wondering if you have experience with an Australian margin account. I opened an account with Interactive Brokers without realising that they are not offering a margin account for Australian residents. Do you know a work around for that? What kind of accounts do you have? Thank you in advance for your input! Cheers, Markus

Hi Dan, I'm sure everyone welcomes you in the Aussie Group although you're in the UK now ;o) I haven't traded anything but NYSE myself but I agree that the time difference makes it quite hard to trade... Cheers, Markus