Australian (ASX) Stock Market Forum

Stock Brokers

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There are so many stockbrokers in Australia, may I know which brokerage house's services are you guys using?

Which is the best in terms of competitive charges and features?

Are Patersons good?
 

GreatPig

Pigs In Space
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Re: Stockbrokers

What sort of stockbroker do you want: Internet only, voice, full service?

I personally use Internet only brokers: NAB Online Trading for an investment entity, and HSBC Online Stockbroking for a trading entity.

Cheers,
GP
 

Julia

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Re: Stockbrokers

salz

It depends entirely on whether you want a discount broker (phone or internet) or full service broker. If you are confident you know what shares you want to buy and sell, then you don't need the advice and market research which is offered by a full service broker. Their advice is also by no means infallible.

Go to the websites of the brokers to find out their charges. With full service broker you can pay unlimited brokerage on a percentage of the dollar trade basis, so obviously you wouldn't want to use their services unless you were getting some pretty fantastic advice in return.

If you do decide to use full service broker, be aware also that they can be very pushy in trying to sell you an IPO which their firm is underwriting. In that case, do your own research before accepting their salesmanship.

Good luck
Julia
 
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Re: Stockbrokers

For internet trading have a look at Brokerchoice
which should give you an idea of fees, features

Cheapest I think is Netwealth, but I remember seeing $10 trades being offered by a new company a while back
 
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Re: Stockbrokers

I'm interested in Discount broker...
Any good suggestion?
Thanks alot
 
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Re: Stockbrokers

Comsec cheap, allow credit and cross trades within 1 day..T+1. Got by far the biggest number of clients so go with the crowd if you like. I hear good things about Sanford's too.
 

Caliente

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Re: Stockbrokers

I use Netwealth to trade and a free Comsec account to keep a track of things. Just put the holdings you have in Netwealth into Issuer Sponsered Holdings in your Comsec and you have the best of both worlds IMO.

Cheap Transactions and a nice service.

But if you sign up for CDIA, which I didn't I reckon just go straight for the Comsec account for convenience. 20 bucks a trade opposed to something like 31.90?
 

Caliente

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Re: Stockbrokers

oh yes, Netwealth offers $17.90 transactions, so i think its the cheapest right now bar none.
 
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Re: Stockbrokers

I have had no real problems with Etrade. Also use DataTech and IMO it is worth paying the extra sometimes.

I used a cheap broker a few years ago and lost more due to trading problems than I saved on brokerage.
 

Caliente

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Re: Stockbrokers

i agree with you smurf. ITs really nice to be able to trade using those advanced trailing stops, etc. on Etrade.
It saves a lot of anxiety which is oft worth more than the few bucks you save at the beginning.
 
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