I'm currently day trading on the LSE using Eurosoft DTS Pro. I pay a fortune for Barclays brokerage, what low cost brokers are out there at present?
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1Suhaim postedBy daytrading the LSE with Barclays I assume you mean buying actual stocks as opposed to CFD's or Indices, the problem with that is that you pay 0.5% stamp duty on any purchase so even without brokerage fees that is expensive, as day trading for 10 days would see you down 5%, therefore why don't you look at CFD's which are cheaper for short term holding of stocks but more expensive for long term investing or swing trading, there are many CFD brokers available some of the notable ones are IG Markets CMC Markets Interactive Brokers (offer stocks and CFD's) note that CFD's do incur large costs if held for long periods but if as you said you are a daytrader they may be the way to go as if you were trading stock xyz on 20 seperate days you with 1000 pounds you would end up paying 5 pounds each time you bought costing you 100 pounds in stamp duty fees whereas with CFD's you would pay 20 pounds( assuming you don't hold the position for days)
Posted on 30 March 2012 |
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0armchairlse posted
Thanks Suhaim, very informative. I am pretty happy with my current share trading methodology but will certainly consider the CFD option. Also CMC is a good alternative as a broker. Cheers
Posted on 19 April 2012 | Love 0 loves
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0gleesongrant posted
Hi GaryH - I'm a big Eurosoft fan. Their day trading system is a fantastic piece of software but it is not easy to learn, I would recommend starting with an easier option such as their end of day program. There are a couple of books published which go into the formula writing etc which aren't too bad. The beauty of Eurosoft day trading software is it is very customizable and the processing speed is incredible, the range of formulas you can experiment with seems to know no end. Eurosoft DTS is one of those bits of software which has so many features, most likely you will only use less than 10%. Because of its complexity, I have it now set up in a certain mode and don't venture past that in case I upset my settings. At one point in time I did numerous backtests, in the hundreds, it is extremely fast in that area, but now don't do these as there is not the need. You get to know what does and doesn't work. The strengths of it for me has been the ability to devise great stock scanners and to experiment with trading concepts. The downside is the complexity of learning the formulas. Eurosoft DTS in itself becomes a hobby and the formula writing very much fun once you get it. For new aspiring enthusiasts, I would suggest download some ready made formulas, then study those by going into the formula editor and by playing around and copy and paste you will get a good idea how the code works. I would only recommend Eurosoft day trading software if you are a bit of a trading and coding nerd and love designing stuff, otherwise maybe try something else as this software will soak up your time.
Posted on 12 October 2012 | Love 0 loves
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0gfmmf posted
Anyone reading this should know that Eurosoft is a scam. There is no such thing as Eurosoft day trading software. This post was written by someone who works for them.
Google CFS, ESL, JBC scam - these are all previous incarnations of the same company, which I believe is also running Eurosoft.
Posted on 16 November 2012 | Love 0 loves
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