Hi Ninja i have just started using ideal for the purpose of trading the indexes. When i registerd you could still get the FTSE and the DOW indexes (among othe world indexes) on Ideal but apparently very recently the Reserve bank brought in new legislation that you cannot trade foreign indexes unless you have a foreign account.According to Ideal its quite easy for them all i have to do is send them a tax clearance cert and a mail instructing them to open the london account - are there any pitfalls costs i should be aware of? Thanks
divz, if you are looking at this route dont waste your time with Ideal, their parent organisation igindex.com is the one to go for. Just send them a passport copy and a utility bill and they will open an account. Get tax clearance and transfer funds on your credit card. Withdrawl of funds are deposited straight back into your credit card within 48 hours. You can trade anything in the world and i mean literally anything. Their support and systems are mindblowing....you get intra day technical analysis updates and software that alerts you you to forming and formed intra day chart patterns. Trading the euro/dollar is only 1 pip in and 1 pip out, the dow the same. Hope this helps.
Thanks Hennie - Is there any significant difference between IG and Ideal that would make IG more worthwhile. Ideal actually looks perfect for my needs i just want to be able to see the other indexes which i would like to use as leading indexes (Dow and Ftse) to trade the the top 40 (although i would prefer to trade the ALSI which i assume you can do on IG)
Thanks Hennie and Ninja. Must say Ig has amazing service I applied on line. I received an email within about 5 minutes requesting a notarised utility bill and passport. I received a call 30 minutes later to follow up and welcome me and said i could email the documents requested to them .. no snail mail necessary.
divz , IG is free with the best live charting package included with deal thru charts facility if you trade twice monthly with them, otherwise $50 monthly for advanced charts. I don't trade the shares...if you are trading shares I would use OST. Indexes, currencies, commodoties are all around the 1 to 2 pip in and out mark.....very very cheap. Plenty of data, resources and technical analysis for free. The range of markets really is mind blowing and leaves Ideal in the dark.....if you fancy trading something as bizarre as pork bellies, IG will have a spread for you.