reder
11th-July-2006, 01:50 PM
I want buy australia stock,which online broker is cheap and best?
View Full Version : Which broker is best and cheap?
Mostafa
12th-July-2006, 11:43 PM
There are three types of stock brokers:
1. Discount/online broker
2. Full service broker
3. Money manager broker
Discount stock brokers are cheap but, they are ideal for those who know the trade industry well and do not need extensive information about the market.
1. Discount/online broker
2. Full service broker
3. Money manager broker
Discount stock brokers are cheap but, they are ideal for those who know the trade industry well and do not need extensive information about the market.
Realist
13th-July-2006, 10:46 PM
I have shares in CBA and use Commsec and love it!! :D
( you sound foreign [where are you from?] so I'll clarify, Commonwealth bank www.commsec.com.au)
I pay $19.95 per trade.
Costs are from memory something like....
Share trades Internet Preferred1 $19.95 up to $10,000 transaction value $29.95 (up to $25,000) 0.12% (above $25,000)
Share trades over the Internet $29.95 up to $10,000 transaction value 0.31% (above $10,000)
Share trades over the phone or through our Share Shop including CommSec and Colonial Margin Lending trades $54.60 up to $10,000 transaction value 0.54% (up to $15,000) 0.45% (up to $80,000) 0.40% (up to $1m) 0.11% (above $1m)
VoiceBroker $39.90 up to $10,000 transaction value 0.40% (above $10,000)
Trades requiring settlement through a third party $81.90 up to $15,000 transaction value 0.54% (above $15,000)
One-off trades $66.00 up to $10,000 transaction value 0.66% (above $10,000)
Deceased estates $81.90 up to $15,000 transaction value 0.54% (above $15,000)
1 To be eligible for Internet Preferred trading, you must be CHESS sponsored by CommSec and settle your trades through a Commonwealth Direct Investment Account (CDIA) or a CommSec or Colonial Margin Loan.
CommSec Share Packs
CommSec Share Packs over the internet $66 per pack of 6 shares
CommSec Share Packs over the telephone $181.50 per pack of 6 shares
( you sound foreign [where are you from?] so I'll clarify, Commonwealth bank www.commsec.com.au)
I pay $19.95 per trade.
Costs are from memory something like....
Share trades Internet Preferred1 $19.95 up to $10,000 transaction value $29.95 (up to $25,000) 0.12% (above $25,000)
Share trades over the Internet $29.95 up to $10,000 transaction value 0.31% (above $10,000)
Share trades over the phone or through our Share Shop including CommSec and Colonial Margin Lending trades $54.60 up to $10,000 transaction value 0.54% (up to $15,000) 0.45% (up to $80,000) 0.40% (up to $1m) 0.11% (above $1m)
VoiceBroker $39.90 up to $10,000 transaction value 0.40% (above $10,000)
Trades requiring settlement through a third party $81.90 up to $15,000 transaction value 0.54% (above $15,000)
One-off trades $66.00 up to $10,000 transaction value 0.66% (above $10,000)
Deceased estates $81.90 up to $15,000 transaction value 0.54% (above $15,000)
1 To be eligible for Internet Preferred trading, you must be CHESS sponsored by CommSec and settle your trades through a Commonwealth Direct Investment Account (CDIA) or a CommSec or Colonial Margin Loan.
CommSec Share Packs
CommSec Share Packs over the internet $66 per pack of 6 shares
CommSec Share Packs over the telephone $181.50 per pack of 6 shares
flyhigher
13th-July-2006, 11:55 PM
Comsec is most cost effective one. Etrade is a little bit more expensive but offers more market information. Or you can use small broker house such as netwealth.
good luck
good luck
Happy
14th-July-2006, 12:48 PM
Are there bank transaction fees for use of Com Bank to settle transactions?
How does ‘6 pack’ work?
(Which shares, how many, any limits - $ or time?)
How does ‘6 pack’ work?
(Which shares, how many, any limits - $ or time?)
Mouse
14th-July-2006, 02:03 PM
Hi Happy,
I bought a commonwealth share pack back in 1998, for me personally it was a good way to get started. They have a few packages which you can choose between depending on what your goals are. The number of shares in each pack depends on the price when you buy them. You can invest between $4000 - $25000 each time. You pay normal fees to sell them.
The packs are all listed on the commsec website, I'm not sure if you have to be a member to see them though.
cheers
Mouse
**editted to add ... the shares I bought and held via the share pack have more than doubled since.
I bought a commonwealth share pack back in 1998, for me personally it was a good way to get started. They have a few packages which you can choose between depending on what your goals are. The number of shares in each pack depends on the price when you buy them. You can invest between $4000 - $25000 each time. You pay normal fees to sell them.
The packs are all listed on the commsec website, I'm not sure if you have to be a member to see them though.
cheers
Mouse
**editted to add ... the shares I bought and held via the share pack have more than doubled since.
freelancer
14th-July-2006, 05:55 PM
1 To be eligible for Internet Preferred trading, you must be CHESS sponsored by CommSec and settle your trades through a Commonwealth Direct Investment Account (CDIA) or a CommSec or Colonial Margin Loan.
shares
Hi Realist..
Just wondering how I become chess sponsored? or does it just come with your CDIA account.
shares
Hi Realist..
Just wondering how I become chess sponsored? or does it just come with your CDIA account.
NettAssets
14th-July-2006, 06:15 PM
I think all of the online brokers require that they be your sponsor to CHESS for their transactions.
This is not normally a problem as an individual can have more than one CHESS account (and therefor multiple HIN's that is the holder identification numbers. ) with different sponsors.
If you are trading through a traditional broker they don't normally require to be your sponsor.
John
The Chess account and HIN will normally come automatically with the broker account - if you want to be sponsored for a HIN that you already have you must tell them in the account application. You can only have one sponsor for one HIN.
This is not normally a problem as an individual can have more than one CHESS account (and therefor multiple HIN's that is the holder identification numbers. ) with different sponsors.
If you are trading through a traditional broker they don't normally require to be your sponsor.
John
The Chess account and HIN will normally come automatically with the broker account - if you want to be sponsored for a HIN that you already have you must tell them in the account application. You can only have one sponsor for one HIN.
mit
14th-July-2006, 06:23 PM
Hi Happy,
I bought a commonwealth share pack back in 1998, for me personally it was a good way to get started. They have a few packages which you can choose between depending on what your goals are. The number of shares in each pack depends on the price when you buy them. You can invest between $4000 - $25000 each time. You pay normal fees to sell them.
The packs are all listed on the commsec website, I'm not sure if you have to be a member to see them though.
cheers
Mouse
**editted to add ... the shares I bought and held via the share pack have more than doubled since.
Hey so did I. It was a bargain at the time because you only paid one lot of brokerage which was a lot more expensive at the time. I bought $5k worth. Last of the red hot speculators.
I sold mine pretty quickly though (always a shorter term trader at heart).
MIT
I bought a commonwealth share pack back in 1998, for me personally it was a good way to get started. They have a few packages which you can choose between depending on what your goals are. The number of shares in each pack depends on the price when you buy them. You can invest between $4000 - $25000 each time. You pay normal fees to sell them.
The packs are all listed on the commsec website, I'm not sure if you have to be a member to see them though.
cheers
Mouse
**editted to add ... the shares I bought and held via the share pack have more than doubled since.
Hey so did I. It was a bargain at the time because you only paid one lot of brokerage which was a lot more expensive at the time. I bought $5k worth. Last of the red hot speculators.
I sold mine pretty quickly though (always a shorter term trader at heart).
MIT
Hopeful
14th-July-2006, 06:29 PM
If you guys think $20 per trade is cheap then ...
I use IB to trade US stocks and they charge just $1.
That's why CFDs are so popular these days - Aussie brokers charge too much.
I guess they are OK for the occasional trader or investor - but I prefer to buy the big Aussies on the US market for $1. Same for buying ETFs.
Why are people happy to pay 20 times more than their cousins in America? Don't you feel you are being ripped-off?
I use IB to trade US stocks and they charge just $1.
That's why CFDs are so popular these days - Aussie brokers charge too much.
I guess they are OK for the occasional trader or investor - but I prefer to buy the big Aussies on the US market for $1. Same for buying ETFs.
Why are people happy to pay 20 times more than their cousins in America? Don't you feel you are being ripped-off?
shinobi346
15th-July-2006, 02:28 PM
Tell me more about it and I might use it. Who is IB? Li nkage please. Any tax /payment implications from buying off american?
mista200
15th-July-2006, 03:43 PM
any online broker will do!!!!!!!!!!!!!!!!!!!!! :banghead:
Fab
15th-July-2006, 08:14 PM
Hopeful,
Can you explain what is CFD and what is the advantage of using it against normal share trading. Can I trade CFD with Commsec and if Commsec is not the best which broker should look at to be doing that at the best price ?
What are the disavantage of CFD as well ?
Cheers
Can you explain what is CFD and what is the advantage of using it against normal share trading. Can I trade CFD with Commsec and if Commsec is not the best which broker should look at to be doing that at the best price ?
What are the disavantage of CFD as well ?
Cheers
Hopeful
17th-July-2006, 09:20 PM
Hopeful,
Can you explain what is CFD and what is the advantage of using it against normal share trading. Can I trade CFD with Commsec and if Commsec is not the best which broker should look at to be doing that at the best price ?
What are the disavantage of CFD as well ?
Cheers
CFDs are Contracts For Difference. They work the same way as a stock but you are not buying the stock itself - but the effect is the same except for much higher leverage meaning you can keep you cash in the bank and just pay interest to the CFD broker (IG markets and CMC). Please take a look at the two brokers' sites for more info - it's all explained there.
IB is www.interactivebrokers.com . They have a Sydney office but you can only buy a few Aussie companies in the US namely BHP RIO NCP/NWS TLS NAB CBA.
If you are an buy-and-hold investor just open any old online broker account - there's not much difference between them. If you trade several times a week consider CFDs or IB.
Can you explain what is CFD and what is the advantage of using it against normal share trading. Can I trade CFD with Commsec and if Commsec is not the best which broker should look at to be doing that at the best price ?
What are the disavantage of CFD as well ?
Cheers
CFDs are Contracts For Difference. They work the same way as a stock but you are not buying the stock itself - but the effect is the same except for much higher leverage meaning you can keep you cash in the bank and just pay interest to the CFD broker (IG markets and CMC). Please take a look at the two brokers' sites for more info - it's all explained there.
IB is www.interactivebrokers.com . They have a Sydney office but you can only buy a few Aussie companies in the US namely BHP RIO NCP/NWS TLS NAB CBA.
If you are an buy-and-hold investor just open any old online broker account - there's not much difference between them. If you trade several times a week consider CFDs or IB.
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