Best value broker

[Fab]

I am currently with Comsec and pay $19.95 broker fee each way. I am wondering if there is a better deal out there ?

Cheers

[bullmarket]

Hi Fab

I've been a Commsec client for the last few years since I retired and am very happy overall with their services and rates. Although I believe their latest version of protrader has some problems. From what I've seen of other online brokers, Commsec brokerage rates are ampongst the lowest.

Commsec easily meets my needs but I am an investor and not a trader and so I am not a frequent Commsec user.

In case you are also considering full service brokers, then I can recommend to at least consider JB Were.

I was a client of JB Were for 20 odd years when I was still working and was very happy with the service they provided me. Obviously JB Were will be more expensive than an online broker but I was happy with the advisers I had over there and the help/advice and research information I received over the years. Imo whether you use an online or full service broker basically boils down to how much time you have to do your own research and analysis and whether you are willing to pay for it through brokerage rates.

If using a full servoce broker, one thing I would stress as being important is to have a face to face initial meeting with your adviser. I found this a very good way to ensure my adviser understood what my objectives and investment parameters were and I found it was then easier to establish an ongoing relationship and understanding with my adviser when I could put a face to the name when talking to him over the phone. I still keep in touch with one of my advisers if I need a second opinion on something :)

Anyway, just food for thought and hope this helps.

Happy Easter :)

bullmarket :)

[Fab]

Thanks Bullmarket,

I am actually with Commsec and JBWere. My problem with JBWere is indeed the brokerage fee is way more expensive around $65 each way that is too much as far as I am concerned. Advise are now widely available on Commsec.
What is the difference between Commsec Protrader and the normal Commsec ?

Thanks for your feedback .

Cheers

[bullmarket]

hi again fab

Protrader is Commsec's 'all bells and whistles' trading software platform.

Basically you can get dynamic data (ie...prices automatically update on your watchlists rather than have to hit the refresh button on the standard web version) and other supposed goodies.

If you log into your commsec account you should be able to see links to info on protrader on the various normal commsec web screens.

cheers

bullmarket :)

[clowboy]

hey guys,

is Commsec's rate not subject to having a bank account with them and having 5k cash in it?

I am sure that I read that somewhere but the site regarding fees is very uniformative.

Thanx in advance.

[bullmarket]

Hi clowboy :)

yes - to be eligible for Commsec's 'internet preferred rates', as they call them, you need to open a Commonwealth Direct Investment Account (CDIA a/c) with Commsec to use as your setlement account and you also need to nominate Commsec as your CHESS sponsor.

You can still nominate any other eligible a/c from other institutions and not have Commsec as your CHESS sponsor but then your brokerage rates will be a little higher.

I thing the initial deposit when opening a CDIA a/c is still $5000+ but after that there is no minimum balance that has to be maintained. (apart from $0 I suppose ;))

Happy Easter :)

bullmarket :)

[David123]

Hi, Bullmarket i think theres a fee of 5 bucks a month?...so i dunno if account can be overdrawn?..maybe wrong ?

cheers

[bvbfan]

There's no monthly fee on the CDIA account get 15 electronic transactions per month as far as I know, but that could be because I'm CBA employee.

You should keep at least 0.01 in the account to ensure it doesn't close, as I had left it at 0.00 for 3 months and the account was automatically shut.

Overdrawing not recommended, but does happen.
Get charged a $30 fee for each overdrawing + loan service fee for each quarter.
May also end up being up for fail fees from CommSec too

[bullmarket]

we have 15 free electronic transactions per month and no monthly fees on our CDIA account as well bvbfan :)

But with that we have no free over the counter withdrawals and so are charged a fee for each counter withdrawal. We don't need counter withdrawals and on the rare occasions we need a bank cheque we just pay the fee.

The other option I believe is only 5 free electronic transactions but you then get X (not sure how many) free over the counter transactions as well.

We use CBA's Netbank, BPAY, EFTPOS and ATM's for 99% of our transactions and so 15 free electronic transactions per month is more than plenty for our needs.

happy easter

bullmarket :)

[nizar]

Does anybody here know if Commsec or Etrade or any other broker breaks up bids and ask orders?

ie. instead of seeing 11 orders for 3,094,903 shares, u can see a single 2,000,000 buy and the rest small orders, or for asks, a big dump instead of all smaller players....

Also, do all brokers let u see only 10 levels of buy/sell depth? Or do some let u see more (maybe Pro versions) ?

Thanks, any help would be appreciated

[OzFrisky]

Does Commsec ProTrader have trailing stop loss orders ? From what I can see the standard service I'm on only has set price conditional orders.

[bullmarket]

Hi nizar


Does anybody here know if Commsec or Etrade or any other broker breaks up bids and ask orders?

ie. instead of seeing 11 orders for 3,094,903 shares, u can see a single 2,000,000 buy and the rest small orders, or for asks, a big dump instead of all smaller players....

Also, do all brokers let u see only 10 levels of buy/sell depth? Or do some let u see more (maybe Pro versions) ?

Thanks, any help would be appreciated

The standard web version of Commsec displays only the total number of buyers/sellers and total volume for a given price. Protrader Gold level does the same but I believe the Platinum level allows you to expand the market depth at each price to allow you to see the individual orders.

I think some brokers will display more than 10 levels in market depth but I can't remember any off hand as I'm going on memory based on what I have seen in various ads, brochures, magazines etc.

Happy Easter

bullmarket :)

[123enen]

CommSec platinum does expand market depth to show all orders per price level. It also shows more than 10 price levels. I believe it shows every level for which there is an order.
I have counted upto 30 levels.

[nizar]

CommSec platinum does expand market depth to show all orders per price level. It also shows more than 10 price levels. I believe it shows every level for which there is an order.
I have counted upto 30 levels.

Thanks heaps 123enen, thats exactly what i need...

To get access to Commsec platinum:
It requires Commsec to be your CHESS sponsor and for you to execute 45 trades per quarter (which is not too excessive) or $77 per month...

[JustaReader]

I use Andrew West at the mo. It shows the entire depth of the market. Everysingly order place, both buy and sell.

[nizar]

I use Andrew West at the mo. It shows the entire depth of the market. Everysingly order place, both buy and sell.

Ok, how much do u pay per trade?

Any other fees (per month) and conditions?

Thanks

[JustaReader]

Nizar - I pay AUD 29.95 per trade up to 30K and thereafter 0.11%. No frequent trader points etc....

No other fees. Unfortunately, they don't have an online margin trading account.

So far no complaints from my side. After every trade I get a hard copy advice via snail mail.

Separately, I strongly believe we pay a truck load of money to our brokers (please compare pricing for online trades on Wall Street). All they do is act as lousy clearing agents, provide poor research ( bet you they read this forum and base their opinion on ours). You brokers out there read this.... "YOU WILL NOT MAKE AS MUCH MONEY/TRADE in another 12 months time". Beleie dat! ('Terry Tate)

[dreilly]

Hi all,

Would appreciate to hear from peoples experiences with the various online trading sites. Any to avoid? Whos got the best brokerage fees?

Im a first time investor with a couple of G's looking to see what i can do with the market.

Regards

DR

[RichKid]

Hi all,

Would appreciate to hear from peoples experiences with the various online trading sites. Any to avoid? Whos got the best brokerage fees?

Im a first time investor with a couple of G's looking to see what i can do with the market.

Regards

DR

Hi DR,

Welcome to ASF! I hope you find it useful. Please take some time to read the forum code of conduct and posting guideliens.

About your post on brokers: You can use the search function to search for topics of interest before creating a new thread, a thread existed on your topic so I merged your thread. There are also some threads relating to your second question, browse the Beginner's forum for old threads by newbies, especially those with only a few k to invest for starters.
Please be aware that no one here can provide financial advice, these are mere personal opinions which may not be appropriate for your situation, so you would need to seek professional financial advice. However, you'll find lots of useful information on ASF.

RichKid
Moderator

[silence]

Heh, sign up for options trading with commsec and you get pro trader platinum free.

At least I have got it, and haven't paid a cent yet :D

I made one options trade last year, protrader is still going strong.

[Fab]

Heh, sign up for options trading with commsec and you get pro trader platinum free.

At least I have got it, and haven't paid a cent yet :D

I made one options trade last year, protrader is still going strong.
That sounds interesting . Is that offer still available ? Is it only a matter to call Commsec and ask them to send the option trading docs and request the pro trader platinium at the same time or do they do it automatically ?

[Bodhi2500]

Hi all,

Would appreciate to hear from peoples experiences with the various online trading sites. Any to avoid? Whos got the best brokerage fees?

Im a first time investor with a couple of G's looking to see what i can do with the market.

Regards

DR


Heya DR

Netwealth charges $17.95 per trade <5G. The online service is ok, no fees apart from the brokerage. I have had no major issues with them.

cheers

[Fab]

Heya DR

Netwealth charges $17.95 per trade <5G. The online service is ok, no fees apart from the brokerage. I have had no major issues with them.

cheers

What do they charge for transaction around 30k to 150K

[sails]

For a straight on-line brokerage without the bells and whistles offered by other brokers, optionsxpress offer flat fees for Aussie shares: https://www.optionsexpress.com.au/welcome/commissions.aspx

This is from their website as at today's date for stock trading:


Standard Rates: $23.95 Flat.
Frequent Rates#: $18.95 Flat.
# To qualify for the frequent trader rate, customers must complete and maintain a minimum of 35 equity and/or option trades per quarter. Customers must request that the rate be applied
GST is included in the above prices.

One of the drawbacks is that they require a US account to be opened before opening an Aussie account - but could be worth it if trading large quantities with the above rates.

[markrmau]

http://www.infochoice.com.au/investment/onlinebroking/compare/tables/default.asp

Netwealth + Adelaid bank CMT looks good. Will change in new year

(I am with SGB currently. I went to download current portfolio and told that I would have to upgrade to more expensive brokerage in order to do that.

GGF!

[Stop_the_clock]

I trade with National Australia bank $29.95 per trade on the casual plan.

Have recently upgraded to the premium package. $9.95 per month fee, but free if you conduct 2 trades per month.

I get contract notes sent to my email address instantly (free of charge) and notification sms's sent to my moible too (free of charge).

[new_trader1984]

Hi, this is my first post at aussie stock forums, i was wondering if anyone had heard of a brokerage firm called trader dealer. I saw a link posted on another forum where it had a list of brokerage companies and it had trader dealer where its a flat price upto $200 000 which is a lot better than others. I had a look at the website seems to offer lots even intra day charts into 10 minute intervals which ive never had before with the brokerage company with now.

Its fairly new was started early 2005, was just wondering if anyone here has heard of it or uses them for trading?

Any opinions would be appreciated.

Thanks.

[markrmau]

Only negative is that if you get a partial fill on day 1 and rest filled on day 2, you get charged 2 brokerages.

[dutchie]

Anyone with a Commsec Margin Loan account or thinking of setting one up should be aware that:

Each time you buy or sell shares through your margin loan account there is a transaction fee of $10 (ripoff).

So preferred trader brokerage of $19.95 really costs you $29.95