If you like to trade US stocks, options or futures, one of the best platform you can use is TD Ameritrade. For users from Asia, you can register with TD Ameritrade Singapore.
TD Ameritrade is a company of over 40 years and with more than 100 branches. Some brokerage companies impose minimum amount of deposit to open an account but not TD Ameritrade. There is no maintenance fees, yearly or monthly fees or platform fees for TD Ameritrade. You can start using the tools, monitoring stock prices, trading in simulation mode etc even before funding your account.
TD Ameritrade is a member of FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation). FINRA's mission is to safeguard the investing public against fraud and bad practices. SIPC protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash.
TD Ameritrade is a mature platform with large community. Trading can be done from desktop and mobile (Anfroid and iOS). There are very powerful charting features on this platform. You can also install Thinkscript to enhance your analysis.
In this article, I will provide an example how you can transfer fund to your new TastyWorks account via wire transfer from overseas to US. Beware that the information is accurate at the time of writing of this article. You should always refer to the information provided to you by TastyWorks before actual fund transfer.
You can wire your money via Citibank or CIMB Bank if you are located in Malaysia. I found that many people were having problems transfer money to fund their trading account; some said the bank told them some rules from BNM that can not transfer more than x amount of money; some said should set up a USD currency account in local bank, only then transfer the money etc. I have no issue funding my account. You can visit CIMB Bayan Baru Branch or Citibank Penang if you are located in Penang. The staffs there have experiences for this type of transfer.
Please be aware that your fund transfer may be rejected even it is a small error in your form. The fund returned to you will be lesser than you sent initially after currency conversion both ways as well as processing charges from both US and your bank. So always double check your information before transfer your money.
If you want to take advantage of the "Bob the Trader" promotion, you need to transfer at least USD2000. Noted that US bank agent's charges might be around USD25 to 30 per transfer. So it is good to transfer at least USD2030 or ask details from your bank.
In this tutorial, I will show you how to fill up application form to apply for TastyWorks trading account with sample data. This tutorial is based on overseas application.
The data in the form are just samples and you will need to enter your own data accurately. The selections from tastyworks.com webpages could be changed from time to time. I can not be held responsible if you fail to get a live account from tastytrade.com.
Tastyworks was released in early January this year for USA users. I stated my interest to open an account since end of 2016 but the release for overseas customers was delayed month after month. But finally it is now available for Malaysia in May. Some of my friends have received invitation letter and now are in the process of application.