Internet Brokers

To trade american stocks even Germans should use broker accounts. It is cheaper than using a German bank and brokers are able to offer more possibilities, like shorting or trading in US-listed options. We prefer Internet-Discount Brokers like DATEK and E*Trade. For German clients it may be easier to open an account with Webstreet Securities, because they are represented in Germany by Consors. Without hidden fees the Internet Brokers allow to invest $10,000 to $50,000 for a as low as $10. All investments are made in the broker account on the customers name. Funds in broker accounts are normally insured for up to $ 50 million and may be withdrawn anytime.

Recommended and tested brokers:

Datek Online ($9.95 for up to 5000 shares, delivers permanently updated real-time quotes without charge, promises to execute trades within one minute)

E*Trade ($14.95/$19.95 per trade without/with limit, offers uge discounts for frequent traders) is one of the largest and most established Internet-Brokers

Schwab with about $0.03 per share is more expensive than DATEK or E*Trade, but able to trade on any stock exchange of the world. It is recommended for trading the London listed Investment Trusts. Of special interest may be the Cayman Branch of Charles Schwab.

http://www.webstreet.com/ Webstreet Securities ($14.95 per trade) offers through its connection with Consors an easy possibility to switch money from the US to the European markets.

 The US-Brokers are regulary rated in Barrons. Look out for the current report which is published in spring. Their are also many pages on the internet which more ore less objectively and independently publish ratings.

Back to the Homepage

Rainer Feix, Anlage- und Vermögensberatung, D-61440 Oberursel, Dornbachstr. 11

E-mail: RFeix@t-online.de, http://www.feix.net