Bell Direct vs. OpenMarkets - $1000 to play

[Zedodia]

hi all, I'm still new. I've tried doing my research on and off over the last 8 years, but have never had the cash to actually play. but now... ding ding ding... I've got the massive amount of $1000 to play with. lol yes lets all make fun of the poor guy.

anyways. i know i won't learn what i really need to until I do by experience. so i need a broker.
I'm looking at CMC (although not leaning towards them), bell direct and open markets. Any others are more than welcome.

also I'm looking at trading penny stocks. High risk high gain. and i know probably a bad idea for a noob. but hey, thats only the thought atm. and once i see what stocks are out there and follow a few for a while before actually purchasing, this might change.

anyways any help advice and pros cons would be mad. so thank you.

 

[notting]

I'm looking at trading penny stocks. High risk high gain

When you are ready to trade you will understand why this is your first mistake.

Until then say this to yourself until you fully feel it, "I'm looking at trading a boring ETF . Low risk low loss."
When you have mastered trading the boring ETF. Then perhaps you might be ready to trade a stock.
Otherwise go ahead and start learning at the inclusive school of learner losers and find out the expensive way.

 

[Zedodia]

is that like ASX 200? ETF that is?

 

[notting]

is that like ASX 200? ETF that is?

Yeah like STW.

 

[Zedodia]

ah ok. well yeah thats what i mean, I'm sure ill change my tune once i analyse whats available.

thankyou

 

[Zedodia]

but any experience with bell or open markets?