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Recommend alternative to Commsec

Discussion in 'Brokers' started by shyguy, May 1, 2011.

  1. shyguy

    shyguy

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    Interested in some alternatives to commsec. Please recommend based on research features, price for trades and conditional orders. I currently only do eod trading. Dont need the graphing as i use other software for charting/data.
     
  2. shyguy

    shyguy

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    what do people think about belldirect?
     
  3. jimmyizgod

    jimmyizgod

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    bell direct has lots of great information - i have an account with them that i only use for research. for trading i use cmcmarkets ($10 trade, free conditional orders)
     
  4. titl4

    titl4

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    I've used (I think) five brokers over the last 20 years. I've now been with Bell for about 18 months. IMO better than most of the Australian brokers although not a patch on their US counterparts.
     
  5. G-Zilla

    G-Zilla

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    Interactive Brokers without a doubt - take the time to learn their interface you will be extremely rewarded.

    Can trade pretty much anything for extremely low commissions and have your account in AUD or a bunch of other currencies, I also link multiple accounts.

    They have recently allowed you to participate in corporate actions (e.g Share placements on the ASX) which pushes them even further in front.
     
  6. shyguy

    shyguy

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    re IB... not an option atm because of having to have a minimum of 10k in the account...
     
  7. tothemax6

    tothemax6

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    CMC markets. $10 trade.

    Considerations:
    You cannot buy stock without money either in your account or due to be credited to you from selling other stock (Comsec for instance, allows you to buy a certain amount and then supply the funds prior to the 3-days-ahead settlement date).
    The interest rate on the account is negligible (Comsec is 5.5%).
    CMC markets stockbroking does not have a mobile site, so navigating on a mobile is awkward.
     
  8. shyguy

    shyguy

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    well from looking around at my suitable options, I am considering either CMC Markets or BellDirect.

    This statement on BellDirect stood out to me - "The Direct Cash Account is not a Bank Account and is not covered by the recently announced Government Guarantee. Investors risk losing some or all of their principal investment."

    Is this the same for CMC Markets?
     
  9. lenny

    lenny

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    CMC CMA is through Bank west which does qualify for the Government Guarantee up to 1M.(As always DYOR)

    This was one of the factors that tipped me towards cmc and i am pretty happy with the service.

    Hope this helps
     
  10. Atomic_Sheep

    Atomic_Sheep

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    Where did you read this? I'm reading their T&C and I can't find any mention of this. Maybe their conditions have changed? Has been quite a while since the post.

    What I did find however is that they don't allow short selling.
     
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