Stock and Forex Brokerages

There are many stock and forex brokerages at Singapore and all over the world.

For Stock Brokerages in Singapore, I have tried the following:
- Philips/POEMS http://www.poems.com.sg/
- iOCBC http://www.iocbc.com/
- UOB Kayhian http://www.uobkayhian.com/
- DBS Vickers http://www.dbsvickers.com/Pages/default.aspx
- CIMB https://www.cimbinvest.com/
- Kim Eng http://www.kimeng.com/

As for the above, I prefer POEMS the most as I like the friendly user interface and clear statistic buy up and sell down with clear colors. You can also get free market depth after you trade certain amount with them by using the points you collected.

As for the broker/customer support services, I think most of the brokerages are the same. If you are lucky, you will get the good and polite brokers, else you might get the bad one. As one of my friend get 1 bad broker from 1 of the above, while I get the good broker from the same company.

As for the standard of Contra, they can give you up to T+5 in general. But, if you can maintain good relationship with your broker, they can give you up to T+6 or even T+7 days. Some people might even get more than that if your broker believe that you have a lot of money :P

For Forex/Futures Brokerages, so far I have used the POEMS http://www.phillipfutures.com.sg/ and Forexyard http://www.forexyard.com/index.php?zone_id=3159 account.

Currently, I'm using POEMS (local brokerage) for my forex trading. The disadvantages that I feel not so convenient is that they charge about USD 2 commission for each mini contract trade and there is a big gap of pips during volatile market.

As for Forexyard (foreign brokerage), I have tried the demo account and I feel that they provide a very good live chart and tight pips for most of the currencies pair. The part that makes me not so convenient with this brokerage is that I have to transfer money abroad and there will be some fees and not so good conversion rate to USD.

Before you open any Forex/Futures/Stock Foreign brokerages, I think you must visit the following link http://www.forexpeacearmy.com/public/forex_broker_reviews for your consideration. They got provide feedback (some might or might not be valid) which can help you make the correct decision.

If you noticed that, there are a lot of Scam foreign brokerages. Once you transfer your money, you can never get it back as they will not transfer it to you. So that, if you lose all of your money during trades then you can consider you lost your money naturally (in a fair way). But, if you makes money or would like to take back your money then they reject it with so many reasons, this is what we can say as a scam. So may advice is, read and get to know more about the forex brokerages that you going to use before you transfer your money.

Good luck, happy trading and happy holiday :)