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Best Online Broker?!

Discussion in 'Brokers' started by Aussiest, Jul 24, 2008.

  1. MaZed

    MaZed

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    What are your thoughts on etrade?
     
  2. Bill M

    Bill M Self Funded Retiree

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    Same problem as NabTrade, when I had my account they wouldn't give me credit until T3. I had to have the money in my account to buy even though I had a portfolio with them. My beef is that I don't like tying up 1,000's of $$$ in my trading account earning next to no interest whilst waiting for that right trade. I prefer them to give me credit until T3 and then I BPay my funds into my account when needed. Some brokers allow you to do that and others don't.

    My Etrade account was some years ago so it may have changed by now.
     
  3. MaZed

    MaZed

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    Does comsec? I bank through ANZ and that's why I went with etrade.

    Comsec wanted to charge me more because I didn't have a bank account with them...
     
  4. Bill M

    Bill M Self Funded Retiree

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    That's right they will charge your more if you do not apply for the CDIA account. I have that CDIA account linked to my brokerage account, all trades are settled through there. However, I do not keep any money in that linked account. As I hold stocks with them they give me credit until T3. On T2 I transfer my purchase funds into that CDIA account. You do not need to have the funds there first.

    I am currently earning 4.75% in a cash account at call. I will never leaver leave cash in my brokerage account earning next to nothing. I don't trade that often so it pays for me to get credit until T3 and BPay the funds in, cheers.
     
  5. VSntchr

    VSntchr

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    Ok cool. I was interested in finding out the LVR's for equities?
     
  6. Julia

    Julia In Memoriam

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    I'm with Etrade and it's still the same. I don't find it a problem at all, as I can do an on the spot transfer of the funds from my ANZ at call a/c (presently 4.65%) into the Etrade cash a/c where it's immediately available.

    Agree entirely that you wouldn't want any reasonable amount sitting in the miserably rewarded broker cash a/c.
     
  7. ROE

    ROE

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    You can usually transfer 8am on t+3 day, you get an extra day on high interest account...
    They dont settle until cob t+3 but they normally run a check early on in the morning and said your trade failed to settle because the cash is not there but they do it again at the end of the day so I ignore the sms so make sure the cash is in early on t+3 day....

    I also like their new settlement calculation you can do trade within the t+3 period and they settle the differences
    I been trading a fair bit lately i do about 3-4 trade during those t+3 and i dont have to put any money in
    If they all profitable trade ...GOLD :)

    500-1000 cones in every few day without any cash up front and that cash sit there in high interest account..double bonus
     
  8. bellenuit

    bellenuit

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    Sorry, I can't help you there. They explain it on their web site, but as I normally keep my LVR under 20% and as their reports show that I am well below their limits, I haven't paid any attention to the detailed calculation.
     
  9. steelcat

    steelcat

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    which is the best broker?

    I know the worst is commsec
     
  10. burglar

    burglar

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    Re: which is the best broker?

    @steelcat

    You must be really bored!

    U.jpg
     
  11. steelcat

    steelcat

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    Re: which is the best broker?


    The commsec interface looks like a piece of sh it to me.
    I used plus500 Demo first, I think it is the best.
     
  12. steelcat

    steelcat

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    The commsec interface is the worst for sure.

    1) The plus500 is very simple and clear,
    example, The main menu is (trade, position, order, history),


    in commsec interface, where to check the trading history?? it is not as clear as plus500.

    in commsec interface, the records sometimes do not show up. you need to click two times sometimes.


    2) The CBA was developed by fools.

    example, when u use a CBA ATM, after u withdraw some cash, the screen display a question " do you want to vote this transaction as your favour transaction?"

    -it is idiotic.
     
  13. OZ620

    OZ620

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    Hi Everyone,

    I am wanting to sign up with an online broker in the future and was wandering now that a lot of these mediums have had time to fix up their problems which broker with the following would be best for a beginner like myself both in shares and using an online broker.

    - Provides reports
    - local and international trades
    - FOREX

    I have a NAB account but happy to move for the right online broker as I have heard nothing but bad reports regarding NABtrade.

    Regards

    Dan
     
  14. Bammers

    Bammers

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    Looking for the cheapest brokerage so that I can trade on the ASX....

    So far I am looking at CMC Markets and IG Markets - just talking shares and not CFD's. Any cheaper going without having to jump through a million hoops like IB?

    Cheers.
     
  15. skyQuake

    skyQuake

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    OpenMarkets - 7bps inc gst
     
  16. PZ99

    PZ99 ( ͡° ͜ʖ ͡°)

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    Head's up for ANZ / E Trade users. Without informing its users they've increased their brokerage for the first trade of each month as of today...

    [​IMG]

    Bit grubby if you ask me :speechless:
     
  17. pixel

    pixel DIY Trader

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    ... and they're happy to link your trading account to a Macquarie CMA. If you're with another bank, give them a call to check.
    Another nice feature: If you wish to take several small bites at a stock - e.g. ease into TLS at $5, hoping it'll go up, add some more at $5.005 (yes, you can also request a centre crossing), etc., up to 12 (could be more meanwhile) trades (same day, same stock, same direction) will raise only one Contract Note and one Brokerage.
    And "frequent traders" pay nothing for the software, Pulse.
     
  18. Boggo

    Boggo

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    Just had a look at OpenMarkets site. I like the idea of being able to ease into trades, sometimes needed on larger priced stocks and something I still miss from the TraderDealer days prior to the Opes Prime failure.

    One of the directors on there, Rick Klink, I have heard that name somewhere before, anyone familiar ?
    Got a feeling he may have even been from TraderDealer.
     
  19. pixel

    pixel DIY Trader

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    I've met Paritech's owners Rick and Paul ten years ago, well before the Opes and Tricom debacles. I don't know how long their company had existed at that time, but their flagship software package, Pulse, was already quite mature. AND FAST!!!

    It was their competitor, MDS Financial, who took over TraderDealer - from memory, sometime in 2008. Not to be confused with Trade-Tech, a training company that sold the Market Analyser and, in its early years, had links with the Sharemarket College and Tricom.
     
  20. Boggo

    Boggo

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    Aah, now I know where from.
    My SMSF was originally set up via Paritech years ago, I reckon I may have actually met him on one of my two visits to the Paritech office in Melbourne.
    Knew the name rang a bell, thanks pixel.
     
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