Australian (ASX) Stock Market Forum

Investing platforms (1 Viewer)

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I've always used the Commsec platform to buy Aussie shares. Started buying US shares over a year ago, but Commsec's international trading platform is a horrendous P.O.S. from the 90's. There's no app, it's PAINFULLY slow, half the features don't even work anymore, and it takes DAYS to get US currency.

I'd like to move to a platform that allows me to trade Aus and US shares easily and has an actual app. "Stake" seems like a good option. Opinions?

My concern is how the securities are held. What happens if Stake collapses? Are the securities legally in my name?

Any other disadvantages or risks I should know about these platforms? Any other platforms I should consider?
 
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Interactive brokers is the best platform there is. In Australia we only get the pro version. Over in the states they have a lite version a much more simplified version
 

tech/a

No Ordinary Duck
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They seem to be pro-oriented. I'm not looking to trade, just investing for the long-term as a consumer.
Well I’m a builder
Fair way off a pro trader!

The phone app is amazing.
But if your happy driving a Hyundai——
 

tech/a

No Ordinary Duck
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Guess you'll always be a Hyundai type of guy.
Lots of you out there.
 
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I know Australian shares are registered to my CHESS account, meaning I hold the title even if the broker goes under.

But what about international shares?

Selfwealth says US shares are held by Phillip Capital. But it's not clear to me (a layman) what happens if Phillip Capital goes under. Would they be able to liquidate my holdings for their bankruptcy?
 
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I know Australian shares are registered to my CHESS account, meaning I hold the title even if the broker goes under.

But what about international shares?

Selfwealth says US shares are held by Phillip Capital. But it's not clear to me (a layman) what happens if Phillip Capital goes under. Would they be able to liquidate my holdings for their bankruptcy?
Best option would be to give them a call to get the direct answer.
 

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