Minimum trade amounts
IG offer $8 share trading. I haven't used that service personally, I use their CFDs account. May be worth looking into https://www.ig.com/au/share-trading
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DIY Trader
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As $500 is the minimum for a "tradeable parcel", brokers usually apply that as the threshold for first purchase orders. That doesn't guarantee that you can't end up with a smaller holding, e.g. if your buy order got a nibble, you may end up with a single share. Depending on your broker's policy on contract notes and minimum brokerage, you can end up paying $20 for a single 5c share.
I know of two that charge 0.07% with a minimum $13.95: OpenMarkets and D2MX.
If it's cheapest rates you're after, check out this site: http://www.thesimpledollar.com/best-online-stock-trading-brokers/
but don't forget to read up on the conditions. Some offer cheap rates only for the first x trades or y days. Others may have cheap rates, but lousy service, frequent drop-outs, ...
Make sure you compare apples and apples.
Cool thanks.
I ask of coz if I put $500 into something & sell a for 10% profit... I say 10% coz I have a friend who has averages 10% on his trades but Paying $20 each way for CommSec barely makes a dint in the 10% of $100,000 portfolio... So it would be great if there were a less expensive option
I ask of coz if I put $500 into something & sell a for 10% profit... I say 10% coz I have a friend who has averages 10% on his trades but Paying $20 each way for CommSec barely makes a dint in the 10% of $100,000 portfolio... So it would be great if there were a less expensive option
Garpal Gumnut
Ross Island Hotel
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I must admit that I use Comsec. I never trade less than $20,000 and always place my orders at market when volume is decent. That cuts out getting 2 shares and dilutes the brokerage.
