Easy (silly) questions are the easiest to answer...

[nodnerb]

Hi everyone,

An international student new to Australian stock trading here. I've recently open a commsec account with both ASX and international trading.

1. I believe the minimum investment for ASX is $500 for shares that you'd never owned, is that right? Is there a minimum for international stocks as well? Particularly for stocks in the US.
2. I'm currently banking with commonwealth and hence, it was an easy decision for me to open a commsec trading a/c. However, I am aware that commsec isn't particularly the cheapest with its brokerage fees. I basically created the account conveniently since I have bank a/cs with them...do you recommend that it would be better for me to open one at a cheaper, online trading platform? Would it be still as convenient?

Thanks in advance and see ya around!

 

[roialle_]

Hey man Im in the same boat i'm starting to get into trading looking for places where to start? like trading platforms etc...this Thursday I have an appointment with a financial planner from commonwealth to discuss about opening a managed fund....just seeing what my options are for investing?

 

[Cam019]

Hey guys,

I trade using Commsec because I too, found it convenient as I used to do all my primary banking with them. Yes, the ASX brokerage isn't the cheapest with $10 per trade for parcels $1000 or less, $19.95 per trade for parcels between $1000 and $10,000, and 29.95 per trade for parcels greater than $10,000. Plus, all conditional orders are free. I'm a university student so I am extremely under capitalized from a trading point of view. For me, it is a trade off between parcel size and brokerage costs as a % of parcel size combined with sound risk management. It may not be the most ideal way to trade, but for now, I make it work.

 

[nodnerb]

Hi guys, thanks for your reply. Guess we're all in the same boat...cheers to our new "adventure" and start of our investing journey.

I'm in uni as well, CAM019. Totally understand your "under capitalised" situation. Btw did you apply for a commsec account online as well connecting your netbank to your commsec acc? By opening online, it opens a CDIA account automatically for you? The 29.95 flat fee (https://www.commsec.com.au/support/rates-and-fees.html, second row) is for people trading using the commsec platform but with bank accounts from another bank yeah?

Do you trade international stocks as well? I'm heading to a branch to get my W-8BEN form sorted out soon...

 

[Cam019]

Btw did you apply for a commsec account online as well connecting your netbank to your commsec acc? By opening online, it opens a CDIA account automatically for you? The 29.95 flat fee (https://www.commsec.com.au/support/rates-and-fees.html, second row) is for people trading using the commsec platform but with bank accounts from another bank yeah?

Do you trade international stocks as well?

Yeah, I applied online and all my trades are settled through my CDIA. You are correct. The second row is for people using Commsec to trade and settling through a non-CDIA.

I only trade ASX equities at the moment. When I am better capitalised and have a lot more experience, I will look to expand into leveraged financial instruments further down the track.