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Just curious about how many brokers do people use? I am noobie still (just about 8 months) and from bouncing around reading different things, I ended up opening several small brokerage accounts and now I want to consolidate into two.
Looking for thoughts / feedback/ suggestions.
Can you help answer these questions from other members on NexusFi?
1) Interactive Brokers has my largest fund because I trust them. I use this for day trading larger position sizes.
2) AMP Futures, mainly to provide Rithmic data feed. I have a very small fund here.
3) A local CFD broker that has instant top-up and withdrawls with debit card. I use this for swing trading; the main advantage is I can fund the account instantly so I don't need to keep funds tied up with them.
I wanted to day trade stocks but I don't have a large enough account to bypass the PDT rule. So I am looking at micro e-mini's and opened an account with Amp Futures. I am reviewing the small accounts I have to pool what's in each to build up two accounts. Until I pass the $25K in one account, if I day trade I would have to pay close attention to the limited number of day trades in each.
Amp is good as the other discount brokers for the micros. There are others like Edgeclear as well. Always liked FT71s honest approach to the markets and his morning review which is free is great. He also has convergent trading where you can learn a lot. Then u need only 1 more stock/options account which can either be IB or TOS
