Recommend good brokerages for a newbie in Australia - Aussie Stock Forums

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  1. #1

    Cool Recommend good brokerages for a newbie in Australia

    Mods: I searched for similar thread and couldn't find it and hence creating a new one. In case if its a repeat please merge it into the respective thread. Thanks.

    Hello peepz,

    A migrant here, recently relocated to Melbourne from Singapore. I have been extensively trading futures and options in the asian markets(especially Indian) and making decent profits to pay for my expenses.

    Now planning to start trading here and opened an account with NABtrade( as i had my savings account with NAB) but only after opening the account I realized they do not offer futures and not even naked writing of options.

    Hence wanted some advice from the pro traders here which broker should I go to if below are my main requirements.
    1. Should have competitive brokerage rates/charges.
    2. Should support option writing as well as futures. Aus markets sufficient, but good if supports international exchanges too.
    3. Should have a decent enough trading platform
    4. Should have professional customer service as I have read about some bitter experiences here.

    Thanks in advance.


  2. #2

    Default Re: Recommend good brokerages for a newbie in Australia

    Interactive brokers fits in with your requirements but crappy margins for your option writing naked or covered. Optionsxpress better margin tho for US market not sure about Aus but high commission and online web site platform good with options. Have a look at deepdiscounttrading have to pay for platform but more variety, you need to ask if spi still supported.

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