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Lowest Brokerage Fees

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greenie

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Currently I trade through NAB which is $30 per trade. I just found Bell Direct which offers $15 per trade plus lots of services that NAB doesn't have. I am enquiring with them now. Is anyone using Bell Direct? Are you happy?

Does anyone use a service that has lower brokerage fees and if so, is it a basic trade only service or can you get the fundamentals and announcements as well?
 
I think CHOICE magazine done a review of several brokers.

Seems that IB are the cheapest - $6 - 0.08% per trade depends on how much you invest.

I use NAB myself since it's linked directly to my bank account so it's easy and i'm not an active trader anyways. I buy a stock and hold it for a few months
 
I started with NAB, but the $30 fees were too steep. I'm now with Bell Direct and much happier. They have a much better interface than NAB, and they also have support for the iPhone.
 
Does anybody know of a broker charging less than IB?

While cheaper than other Aussie outfits, even they are still not cheap.

I can't believe people in Australia put up with the ripoffs in the brokerage business!
 
Great link Trader_Z, i hope something happens in the future.

Cheers,


CanOz
 
Interesting article, Trader_Z. Unless the ASX gets some serious competition, can't see them being prepared to lower fees and charges.
 
trader_Z said:
Interesting article on ASX...

http://www.theaustralian.news.com.au/story/0,25197,23352913-5014253,00.html
Click to expand...

The ASX must have some good lobbyist cos they sure have managed to delay these new exchanges from getting a start.

All of these news licenses appear to be focusing on the insto market (dark pools) so I'm not sure if they will impact retail brokerage.

Did read the other day the the New Zealand Exchange has just bought a controlling stake in the Newcastle Exchange (NSX). Perhaps the kiwis will revive they crappy old market and make it into a true competitor to the ASX.
 
Well, 1 way to put pressure on the high priced brokers as well as ASX is to tell as many other people you know what the situation is.

Ask people to *demand* lower rates. Tell people they're not being done any favors by "investing" their money in high-priced rip-offs!

Back in the 1970's, the situation in the US was the same. Commish was $50!

Electronic trading and competition changed all that.

In the US, for example, some people pay 50 cents-$1.00 a trade. It costs very, very little to electronically process orders.

IB charges their US customers 50 cents/100 shares.

Same story in Europe.

Why give your money away?
 
Hey, I have been with Bell Direct for about a month or so. They attracted me due to there low $15 brokerage fees. They are very good and they actually are very very quick to respond to you if you have any problems or questions which is a great thing.
Definatly a good company to deal with
 
Depends on the value of the share. For cheap shares, paying a fee as a percentage is cheaper than a fixed fee, while the fixed fee is far cheaper for expensive shares.

For futures, the SPI is about the same as the SPY.
 
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