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Share Brokers - ANZ vs. CBA?

Discussion in 'Brokers' started by Redbeard, Aug 30, 2018.

  1. Redbeard

    Redbeard

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    Which is the better online broker ANZ vs CBA..

    I have my own view but I am interested in other peoples view based on their own experiences.|

    So over to everyone else....
     
  2. bellenuit

    bellenuit

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    There is a complete forum dedicated to Brokers. You should ask your question there.

    https://www.aussiestockforums.com/forums/brokers.25/
     
  3. Redbeard

    Redbeard

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    ahh ,, okay. Thanks
     
  4. greggles

    greggles I'll be back!

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    ANZ Share Investing used to be eTrade Australia but they dropped the eTrade brand quite some time ago. They are moving to a new platform on 10 September so I suggest waiting until they make the switch to see how it stacks up. I have an account so I will post some screenshots once they have migrated to the new platform. I'm expecting that a mobile app will finally be introduced, something that is long overdue.

    I can't comment on Commsec. Never used it or known anyone that has.
     
  5. bellenuit

    bellenuit

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    I used CommSec years ago and it was a good solid platform. I stopped using it when they abandoned their high interest account (I cannot remember what it was called) where you could park your cash between trades. It may have been the Commonwealth CDIA that they currently use, but might simply have stopped paying interest. I have since moved to nabtrade which is slightly cheaper and has an optional high interest account attached to it. But unlike CommSec previously, you need to move your funds to and from the high interest account to the Cash Account in order to trade. As far as platforms go, I see little difference between them.

    However, I wouldn't touch either for international shares. Both are rip offs when it comes to the currency conversion. The best for the international sales, particularly US, is Interactive Brokers, except their application procedure is an absolute pain.

    I have had no experience with ANZ.
     
  6. rgl001

    rgl001

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    I agree with comments re nabtrade - cheaper and access to High Yield account (currently 2.15%) is good plus I think they analytical data they provide is better
     
  7. keendad

    keendad

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    I use Comsec and park funds in an ACEL account in Netbank.
    I gave an account with IB but gave not been able to print my own holding statement. Local help is not helping.
     
  8. Redbeard

    Redbeard

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    Thanks for the comments everyone.
    I will now share my thoughts. I have accounts with both platforms. With ANZ for some 10 years now. For Commsec I helped another family member join and do some trades in the last year.
    The differences I noted are;
    Unless you are opening a personal account, both are long winded and confusing with opening Trust accounts of various types. (ie a lot of back and forth with paperwork)
    Actual usage is similar, though Commsec seems to have a "prettier" interface while ANZs is very utilitarian. Though ANZs has a lot of things I would never use and some things are fairly clunky.
    They both use separate "trading accounts" with low interest for funds while in there. As mentioned CDIA in Commsecs case.

    The biggest difference in usage is that ANZ requires funds for purchasing shares to be put into the "trading account" PRIOR to an order being placed. Commsec allows the trade to be placed and executed and only prior to T3 ending must the funds be in the account.
    Withdrawing funds is not immediate with ANZ, its usually overnight. I dont know about Commsec.

    As Greggles mentioned ANZ is launching a new platform this month (now pushed out to the 20th) , I will wait and see if its better.
     
  9. HelloU

    HelloU

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    I use a variety for a variety of reasons .....never used commsec, and of course have not seen the new ANZ platform, but if you are a 'basic' user for aussie shares then current NAB has a lot more data available than ANZ (and sorta cheaper trades) ......some limitations on conditional orders in NAB for basic accounts but the workaround is to use the app to do the stuff 'not allowed' on the website for the free accounts. So ANZ beats NAB for conditionals in general.

    NAB web issue is you can only have one window open ..... so cannot look at lots of stocks at once (unless I am dumb and not worked out how to do that), so ANZ wins here.

    I would think that money transfer times are a bank related thing (that I thought was going 'live' by now) as my NAB/uBank is very very quick. My IG though still takes 3 full days to come back to me ........ but I would not rec IG for shares.
     
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