BROKERAGE firms that trade stocks in foreign markets Message Board

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Strategies & Market Trends : BROKERAGE firms that trade stocks in foreign markets

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To: peter michaelson who wrote (8)	4/18/1998 2:59:00 PM
From: Jethro	of 16

Peter, I really appreciate the Datek tip. I've run into the same problems as you with with U.S. brokers. They'll trade foreign stocks, but (1) they charge very large commissions for low-priced stocks, for example $.01/share in the case of National Discount Brokers, or 4% in the case of Schwab for stocks selling under $1.00/share, which hurts if the share price is, say, $0.10/share; and (2) they all go through market makers in New York. I tried using Merrill Lynch, as they own the biggest of the market makers (Smith Newcourt -- I may have gotten the name wrong), but Merrill costs more than the discounters. I think you need to do something like what I did, find a firm like TISCO in London. If you do, I hope you'll let me know who you end up up using.

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