Investing means something different for everyone. This does not always make choosing a broker easy. The broker Interactive Brokers (IB) distinguishes itself strongly from other (online) investment banks. The trading platform is called the Trader Workstation (TWS). Opinions and experiences about this platform differ. It can be said that this platform gives the investor a completely new experience: that of a professional party. Lynx and Todays Brokers are the Dutch resellers.
Interactive Brokers, Lynx and Todays Brokers
Interactive Brokers is an American broker. To register with this broker you must meet a number of conditions, such as an initial deposit of $ 10,000. The initial deposits at Lynx and Todays Brokers are a lot lower. All three brokers work with the same trading platform: Trader Workstation . Lynx and Todays Brokers are the Dutch variants of the American parent company Interactive Brokers. Stock market guru Cees Smit is director of Todays Brokers.
Options Trader Workstation (TWS)
The first thing you notice about the TWS is that you have to select companies yourself that you want to follow. You can inform the brokers that you would like to have the funds of, for example, the AEX already ‘programmed’. You don’t have to look up 25 funds yourself. In addition, you can arrange the screen entirely according to your wishes. There is a wide range of options: showing the implovied vote, the rate of change or, for example, the delta, funds, derivatives and currencies. You can study the graphs of all traded products in detail and there are plenty of technical indicators available. A technical analyst will therefore not easily get bored. Buy and sell orders can also be entered within the graphs. All screens give you the freedom to design them yourself. You often choose your own information and can literally ‘colour in’ everything yourself. The same also applies to investors who invest based on fundamental analysis. Much of this information is provided free of charge and there are options for tailored news services. For real traders, there are options to create your own shortcuts. This way you can act very quickly. You will soon notice that the platform is built for active investors . You can purchase at the touch of a button and you can quickly switch between programs and tabs. Price information from many companies worldwide is easy to request and can be easily followed because you use your own composition of screens. For example, you can place the Google fund under Ahold. In addition, many funds and derivatives are traded on various exchanges. You can use SMART to indicate that you always want to buy at the best possible price. There are plenty of tutorials on how to trade with the Trader Workstation on the internet and the brokers’ websites.
Trade Work Station Experiences
The extensive options of TWS come at the expense of ease of use. You must be willing to delve into the functions of the trading platform. The platform is built for professionals who want to research, curate and actively trade. This makes this trading platform an absolute must for day traders and active investors. This is because the transaction costs are low compared to other online brokers. At Lynx and Todays Brokers there is also a Dutch-speaking help desk, so you get sufficient support. But this service does come at the expense of the commissions you have to pay. Because despite the low rates of Lynx and Todays Brokers, the commissions at Interactive Brokers are still a lot lower. The precise rates can all be found on the websites of these brokers. And finally, do you want to trade forex and buy and sell currencies? This is also possible. According to Barons Magazine, Interactive Broker is the least expensive trading venue for investors and holds the ranking as the #1 Lowest Cost Broker for the fifth straight year . Please note that you have to pay for streaming rates. But there is also a very extensive package of various subscriptions for this. From lightning-fast stock market information to streaming quotes of Canadian companies. The streaming costs start at 5 euros per month for the AEX.
Before you start trading
Think carefully in advance what your objectives are for investing. If you are an active trader and want the lowest possible rates, then you are well off at Interactive Brokers. If you have difficulty with English and would like some help from a helpdesk, it may be wise to register with Lynx or Todays Brokers. A lot of information and help in Dutch is available at Todays Brokers.