Initial Minimum Deposits for Australian Brokers - Aussie Stock Forums

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  1. #1

    Default Initial Minimum Deposits for Australian Brokers

    Good greetings to all AussieStockForums.com forum members,

    I would like to ask for some answers for some questions in regards to some investment related services.

    These are my questions:

    1) If I were to hire a broker if I wanted to simply purchase financial securities on the ASX (or from other security exchanges from other countries) for the first time, do I have to make a Initial Deposit (Minimum Deposit) of Australian Dollars to him ?

    2) If I do have to pay a Initial Deposit (Minimum Deposit) to a broker, what is the minimum and maximum range of Australian dollars I have to pay ? (example: 3000AUD to 10000AUD)

    I may or may not have other questions after this post, primarily because your answers might contain genuine food for thought which would further raise my interest and enquire more on all things related to financial securities.

    Thank you for your time to read this post of mine. Have a great day !

    All words written in this post are carefully, respectfully written and are meant to be read at Face Value. The author of this post does not intend his post to be sarcastic, disrespectful or demeaning in any way. The author's question is made with genuine intent, made with good faith and good will.
    Last edited by Sammey; 16th-August-2013 at 12:48 AM. Reason: putting in more details to question

  2. #2

    Default Re: Initial Minimum Deposits for Australian Brokers

    Quote Originally Posted by Sammey View Post
    ... I would like to ask ...
    Hi Sammey,
    Welcome to ASF!

    Every broker is different.
    I'm with netwealth.
    They require me to have sufficient funds (including costs)
    in their trading account to open a buy order.

    Some brokers allow 3 trading days to pay, (eg Commsec).
    Others require an up front minimum, (eg US$10,000 for IB - AUD$20,000 for Paritrade).
    It all depends!

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