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This list has been updated HERE since Etrade is my new favorite broker in 2016
Thank you Tim , I'm almost done being poor LOL
Thanks for your video Tim. Since you have students from all over the world, Can I also please suggest to add a few details on the list on whether these brokers are assessable for non-US residence? (Ie any addition information/ hurdles required) I know for sure that Suretrader is the first option for someone out of US. Thanks in advance.
Thank you Tim. This video was helpful as i am just starting to trade
When people say Suretraders software is crap, do they mean it's annoying, or do they mean it doesn't execute trades in a timely way?
Just sent an email for an intro to the new preferred broker, Thanks Tim
I'm working on getting out of the "POOR HOUSE" LOL, hey we all need to start somewhere, being here is the most important start!!!
Thanks Tim. Aside from Suretrader does anybody know of any other brokers accessible for UK residents with <$10,000?
My suretrader acct is ready to go as of Friday. Im beyond excited.
Does TD allow short trades for accounts under $25k?
Thanks Tim! Great advice
@KDL: Both! I started out with their web-based level one platform. When they upgraded the platform, it just stopped working & I was unable to place trades. Even DAS Tech couldn't figure out why.
The only solution was to upgrade to the software-based level two platform. I do not like it, as it is unnecessarily complicated, but so far it has worked.
There are numerous other issues with ST programming that doesn't allow me to recommend them.
@KDL Their customer non-service is CRAP. They have no 800 number, so there is no cost effective way to reach them by phone. All customer service is web based. The simplest of questions often takes 20 min's or more and you will often spend 2+ hours and be switched to multiple people for "complex" questions (which are actually easy questions).
They do have generally have shorts available, however. Any specific questions please email me @ firstname.lastname@example.org
Tim, I know you don't like Leverage.. but will the new preferred broker have any leverage like Suretrader?
Great advice as always. E^trade Pro has been spot on for me. Great costumer service as well.
Great video Tim
Good motivating video, thanks
I liked the tip on mind-set. Food for thought.
@britishbulldog well I'm from Italy, and the only brokerage firms working for the non US citizens are IB, Speedtrader and Suretrader.
@enrico Thanks for letting me know!
@LucasMcCarthy It's not just about the intro but more importantly what you put on the form when you fill it out. You probably need to say extreme high risk for everything and greater than 5 years for your goals to achieve this.
I am just starting, have less thank 10K, live in the US, and want to buy and short stocks. Suretrader is the way to go? Just want to hear form someone in my same situation so I know ifs ok to send them my currency, thank you
in all it would be great to work with the best, but this happens all the time
It keeps saying the video was deleted :\
The video is not available
love the pep talks
Wow, so much great information in this video. Thanks.
thank you Tim!
Thanks Tim,alot has to be said for the encouragement you put into your videos and lessons and it all makes sense. If you follow your strategy and learn the trading patterns and apply them, one will become a better trader and more successful and eventually reap the rewards of their efforts. Thank you again.
Hmmm ... just discovered that to open an account with Interactive Brokers, one must have at least 100 previous trades beneath the belt! Guess it'll have to be Suretrader to start.
"In general, to qualify as an IB customer, you must meet these requirements:
You must have executed at least 100 prior trades for any product type.
To trade any product, you must have a Good or Extensive Knowledge Level for that product.
To trade any product, you must have a minimum of two years trading experience with that product."
Well that cuts out all beginners ... LOL
@LimitedEdition You're in luck! Suretrader is a better broker with access to as many shorts and a lower fee schedule. Start with the level 2 platform and watch all the "DAS" vid's on UTube to figure it out. Stay W/I 2/1 margins and if u get a "margin call," it may be phantom based on bad programming. Always check w/ customer no-service PRIOR to liquidating positions to verify that you are out of margin.
@PeeOn Hey thanks! I've never traded before and know nothing about it, so all help is appreciated. Just waiting to hear back form SureTrader now after completing the application. Guess I won't be trading tonight! :) I'm in New Zealand, so my trading day will be starting at 1.30 in the morning!
@LimitedEdition They are not known for their speedy service. It will take them about a week to process your application and assign you an account number. One you send your international wire transfer to fund your account, it takes another 4 business days before it arrives and is credited to your account. Make sure you find a "virtual" account until you know what you're doing. I use Optionshouse for that and for going long.
@PeeOn Well they must have improved - my account has been approved already ... :)
@LimitedEdition Let's hope so! I will say things have smoothed out. I have not received a "phantom" margin call or needed to contact customer no-service in well over a month now. When I started in March, through June, I could NOT, in good conscious, recommend them. As of this month (July), they have improved to the point that I can recommend them.
Tim, Love You Man ,For Letting me know !!! I am Poor, In the Broker world !!
How,ever I will work on my Game, Everyday is a new day, and one day closer to my goals/dreams.... Thank You !!!
one day at a time...I am a new student, thank you
@PeeOn Well my money still hasn't turned up at SureTrader and the bank is trying to trace it. Such a frustrating waste of time - it's nearly a month since I sent it!
@LimitedEdition Yes, agreed! But a blessing in disguise because after one major and one minor screw-up in July ('14) I am back to NOT being able to recommend ST due to MAJOR issues with programming.
@PeeOn Well assuming I get my money back, who do I work with? None of Tim's other recommendations are open to me yet.
@LimitedEdition You know your bank is SHIT when they can't even send a money order properly! Big mega-bank? Try Optionshouse (which has been good) or E trade.
@PeeOn Lol - unfortunately I made the transfer myself, so I can't blame the bank. But everything was correct as per SureTrader's instructions ...
I don't get it, Jan. Did you mail a money order?
@PeeOn No - I set up an overseas transfer through internet banking - never had problems before. I'm quite sure it's not the bank that's at fault - they're excellent. :)
@LimitedEdition Ahhhhhhhhh OK I got it and that's where the problem is. "Internet banking" is good domestically only. Since ST is in the Bahamas, you MUST go with an international wire transfer. It's between $60-100, depending on who you're using, BUT, they WILL get the money in 3 business days.
@PeeOn Just had a call from my bank - the money was deposited into SureTrader's account but they don't have a date. So the problem is with SureTrader. I "sure" hope they can find it now! Lol
@LimitedEdition I wouldn't hold my breath! A blessing in disguise. Hang in there.
@PeeOn I think you're right. I got cross with them, and the response I got was that they're doing everything they can! If I haven't heard anything by Tuesday, I'm going to ask the bank to recall the payment. I need money to trade with! lol It's nearly $6000 NZD and I don't have any more to send, even if I was to lose that.
Guess I would NOT recommend SureTrader to anyone. The only Sure thing about them is that they've lost my money!
I just want to trade!
@LimitedEdition It's really good luck that this happened. Their programming issues have really cost me a lot of money. I can't in good conscience recommend them. Escaping the PDTR is not nearly enough to off-set all the negatives.
@PeeOn Hmmm ... perhaps I should just try to retrieve it and find another company.
@LimitedEdition At this point, I must agree with you.
I highly recommend Tim's high networth broker if you have enough.
@JASONYI That's my goal eventually. It took about five weeks, but they did credit my account in the end, and in the meantime I got the call about the Challenge! So it worked to my benefit really. :)
@LimitedEdition Good to hear! Congrats on both fronts! Learn well, trade to profit, & enjoy the process!!
@LimitedEdition it took 5 weeks for the super secret broker to open your account?
@PeeOn Yes it did. But now I don't mind because the wait was to my advantage. :)
WOW! I'll have to stick with my super non-secret broker with reasonable customer service.
I think instead of bad mouthing ST we should all send them some constructive criticism whereby they can atleast fix problems , introduce new ways of making sure they cater more professionally.
@adamthefirst I send manager Earv a razzing every few weeks. They're not loosing enough customers, yet. They will lose one more very soon!
@adamthefirst I tried that. The only decent response I got from them was when I started my email with "I've been told of your poor service but ..." . That got me a long email telling me what they were doing about the problem. Then it was back to the "we're looking into it" replies, and telling me to check with my bank. I had already paid to have it traced and the bank said that they had the payment. They said they'd had a payment for the same amount, but it was in someone else's name...
@adamthefirst Eventually they said that they would credit my account with that payment, but if it turned out not to be my money, they would take it out of my account! Guess I'd better hurry up and make some money just in case ...
@adamthefirst For clarity - my bank said that ST had received the payment.
@LimitedEdition Tell manager Earv that you're part of a large trading network and you will tell everyone about their "legendary" customer non-service. LOL.
@PeeOn They already know that because I asked for a discount on fees! lol
Has the new preferred broker been announced?
For shorts, SureTrdr or InterB? My account at E*Trder is $25K. I demo both platforms at ST and InterB and they are both kinda crap. Love to hear peoples thoughts on these two, which is better over all. Hate missing out on all these Sykes shorts!
@Coulisnosaj I/B, of course. Don't even think about S/T--unless you like losing lots of money!
No Suretrader is definitely not the way to go, especially when starting out. UK residents can use Sogotrade by the way.
My Suretrader is about to activate here within the next 48 hours!
@milwaukeetrades360 So sorry!
@PeeOn Trading a small account, one step at a time! Just finalized paperwork about to transfer funds. I'm excited!
Thanks Tim, you're the best
Thanks a lot, i am new subscriber for 2 months, I am from Canada. I have a canadian broker account, but it's hard to find short on that broker. I can open with IB but I don't wanna put that much money right now. I will check SureTrader. Thanx a lot for info.
Hi, I'm from Canada and have account with InvestDirect - HSBC, But they have a lot of restriction,
so please advise with broker you would prefer, thanks and wish u best of luck
@Ngabriel I use Questrade. They are good for long but for short they don't have share most of the time.
Thanks for ur reply, actually as im a new trader, i really dont understandshar what do u mean by they dont have , what can we do, is directinvest better in this point? What u do to overcome this problem? Also i noticed thst most of Tim trades is short !
Thanks in advance for ur clarification
@Ngabriel long you make money when price goes up. Short when price goes down. Google everything
Thanks Abir, Most of Tim trades are short, Then what is the broker you would recommend?
@Ngabriel For God's sake NOT Suretrader!
Thanks, pls advise Im in Canada and dont know which broker is good considering za short selling
@Ngabriel IB is OK for shorting. Contact them and see if they allow Canadian Citizens to open an account.
Thanks Tim, appreciate the insight for brokers and being so encouraging!
Why the heck does SureTrader require Professional References? I'm opening an account, not applying for a job.
DO NOT open an account with SureTrader. You WILL regret it!
@sykes_next_millionaire They refuse to take any responsibility for their failed executions, costing me approx $15k, among numerous other problems. I closed my account and went back to my super-secret low Pee-On broker.
@PeeOn $5K is my cost
@ekotr You were lucky! And the PDT rule turned out to be irrelevant as I hold my shorts overnight 99.9% of the time. Look at it this way: You know how important that education is that Brother Tim always talks about? Well you tuition was $5k and mine was $15k. LOL!
can't wait to get around this PDT
@DaveTrades Plan your trades well and the PDT rule is irrelevant.
Im in Australia, Speedtrader requires minimum $15000 and require paper application...is there anything else, I don't want to use Suretrader..
@britishbulldog I am also from UK, How is the trading ? I am based in Dubai and ready to open account, which did you go for?
Thanks Tim Happy New year!
Tim--Happy New Year. I so appreciate the details and benefits of the different brokers as well as your continued kicks in the butt to make profits and grow our accounts! Could you address the problem of PDT rules with small accounts, (which adds another dimension to the problem of being poor on Wall St.^) The limit (for accounts under $25,000 ) seems only to be solved by Suretrader at this point. Am I correct^, or is there another option^ THanks!
nice video! Email sent!
whats best for canadian
Thanks for this video, and for being willing to teach instead of just keeping it to yourself. I really appreciate the lack of BS in your teaching. I'm just on the trial for a couple of weeks until I can get some money together, but I'm so excited to learn from you!!!
Thanks for the lesson on researching the facts in order to make an informed decision. And, the brokers of course!
Great video ! Im looking for brokers that are best for Europe citizens can you help me with that?
Tim's 2015 brokers: http://profit.ly/content/premium/11286 and http://profit.ly/content/premium/11353
Guys , whats the best set up to start out with? Not sure my Samsung tablet will cut it , but want to try and keep costs down as im just starting?
Any reviews of Exante.eu?
Td does do shorts under 25k All you need is 2k + for a margin then your good to go
@moneytrader99 hey how did you set up an account with sure trader?
@stewlv I'm new to all this and was wondering how easy the platform on pro is. Also is it easy to set up for Mac Pro
@britishbulldog Hi, I am also a UK resident who has just started trading. What platform have you decided to trade on?
is Etrade ok to start and grow my account?
Next stop upper east side....See u later Ghetto!
What is the best broker for someone who is a UK resident and with $5000 to open an account with. I just signed up today. Thanks
Actually i could open with $10,000 as long as i could withdraw some of that money once the account has opened... I am new to trading so i would hate to blow out my entire life savings if i screwed up. But if you can get a much better account for opening with $10,000 it is probably worth it, right? Again, i am from the uk and based in the UK.What are my options??
Thanks, Tim. Onward and upward.
Is there any other way to view the video. I keep getting a error on this one.
Thanks for the info and video. I'll definitely avoid suretrader. I'm considering opening an e-trade account. Should I be getting a brokerage account with pro elite status?
Thanks for the advice, Sweet and to the point
@timothysykes thank you for this information I will definitely email the admin so that I can get the updated preferred broker.
what do you think of robinhood
Does anybody know of a broker assessible to Australia?
Currently using TD Ameritrade and I enjoy a lot of the features. Think or swim is great. But I have no ground to base my statement since this is all in know from experience.
Very good Tips in this lesson and good motivation
Lets do this
I already have an account with Trade King... Know anything about them?
New Trader here and I read all the issues with sure trader. I've been learning and paper trading for 6 months now. I'm ready to invest with a broker and start trading I only 2,500.00 to start. Does anyone have one that they can recommend with the trading style tim has taught us?
I'm using TD Ameritrade with $3500... They "identified" my trading patterns to be day trading which means that I must have $25,000. I don't know when this happened but I might have to switch brokers... :(
When I signed up Glenn told me to open a Etrade account, but Tim did not mention etrade here at all. Is etrade nor recommended?
Fuck no etrade in canada.
i have etrade account I've never short trade before can I short with trade? i need help learning how to short ... Thanks
@britishbulldog how did you get on finding a broker for UK residents? I am new to this and currently looking for some options. Any advice much appreciated!
Hey guys im wondering what laptop should I use to trade stocks fast with no lag that is not soo expensive
what about etrade?
I'm looking for a broker which allows me to register from The Netherlands in Europe
Thank you Tim
Etrade have been in process of closing non-US accounts for Some time now.They require a US residentie to open an account now.Does anyone know good brokerage firms for the Netherlands,Europe?
@britishbulldog hi im also in the UK any luck yet?
I live in Australia and wondering what the best trading software is here? Anyone else out there from Australia with a great working Account that can help me out?
Good video. You want a broker that actually has locates and good executions so you can go long and short, also, you get what you pay for (Robinhood sucks).
hey Tim, any good broker for Canadian?hard to do day trading when my broker review my all market orders for 2-3 mins b4 they send to the market & get surprise price.
I'm having a hard time finding a good broker to use from the UK. Anyone have one to recommend that doesn't have a high minimum?
Alreaday have the righ broker, for my small account :D! Will upgrade later to the high net worth broker! Think in big picture and dont get discouraged by broker fees!
hello everyone i know tim uses interactive brokers and etrade, id like to know what brokers anyone from spain or any european countries are using?