What are y’all using?
Also, maybe an obvious answer but do you keep your long and short book at the same broker? Any disadvantage to going with 2 brokers?
My guess would be interactive brokers but I don’t short
I’d just go with the one with the best borrow rates. I don’t have any shorts and don’t know what the rates are like for the companies where I have accounts. However, for margined securities, my “base rate” is 8%, which makes it unusable.
In general, I’d think it’s better to keep assets in the same place, since you tend to get minor perks if your account is large. You will also have fewer tax forms to file every year. However, you might have some special reasons to split your assets. For instance, I have two brokerage accounts because one gives me commission free trades, but doesn’t have all the products offered by the other one.
Its always crazy to me that Interactive Brokers isn’t the first response in every thread like this.
You will not find better availability, lower borrow fees, better commissions, lower margin interest, or better execution tools than Interactive Brokers.
^prolyl cuz there are a lot of fees. your bankroll needs to be 100k in 1 acct to avoid those fees. just fyi!
Which fees?
monthly activity fee. i think its like 20 bucks a month. so $220/year.
That’s 2 trades a month at most spots. Still seems reasonable to me. Especially if you are using margin
Yeah IB, cause low borrow rates, and high leverage (in case the short goes the wrong way).
yea but im definitely not on margin right now. i have way too much cash. like close to 50k.
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If I wasn’t rappin’ baby, I would still be ridin’ Mercedes!
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