• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

Trading Platforms in Australia (observation)!

Discussion in 'Trading/Investing Resources' started by Dominover, Jul 9, 2020.

  1. Dominover

    Dominover

    Posts:
    104
    Likes Received:
    21
    Joined:
    Apr 3, 2011
    I'm specifically referring to trading platforms in Australia here.
    I'm also not naming any providers as I'm willing to believe they could potentially improve if given the chance.

    What I've found when looking through stock trading platforms provided by Australian Firms is that even for the more expensive monthly subscriptions you don't get near what you get from free platforms provided by say U.S based platforms. It's terrible.

    I've gone through several now and I'm absolutely shocked that the one's I've reviewed don't even provide VWAP. The screeners are terrible, and their charts provide tones of useless indicators which nobody uses.

    It's almost like those platforms are created to steer or fool you into buying stocks to support the institutional buyers/seller who also provide the software.

    Yahoo Finance and TradingView are the two most comprehensive platforms I can find. It's amazing. Yahoo charts provide all the VWAP derived studies and a bunch of useful widgets.

    I'm also amazed that I haven't seen or heard anyone discuss this in the past. So I'm wondering what others have found in relation to this? I haven't looked at IB yet but will do so.

    So it's really difficult to find a subscription based platform which provides the basics like VWAP, Risk/Reward drawing tools, Comparrison overlays, and Volume Profile indicators all in the one chart.

    How have others got around this? The market for this kind of thing in Australia is absolutely terrible. It's almost like these providers have gone to work to provide the bare minimum and have failed to achieve even that.
     
    geoffh, cutz and MovingAverage like this.
  2. MovingAverage

    MovingAverage Smoke me a kipper

    Posts:
    378
    Likes Received:
    497
    Joined:
    Jan 23, 2010
    I doubt very much that you'll get anyone disagree with your observations.
     
    Dominover likes this.
  3. cutz

    cutz

    Posts:
    1,963
    Likes Received:
    119
    Joined:
    Aug 10, 2008
    Yeah totally agree,

    I guess the fact of the matter is most Aussie firms are just banks with stockbroking arms using Commercial Off The Shelf junk passing it off as a trading platform, most people probably couldn't care less with a few buy and holds with the bank that gave them a home loan or term deposit.
     
    MovingAverage likes this.
  4. Dominover

    Dominover

    Posts:
    104
    Likes Received:
    21
    Joined:
    Apr 3, 2011
    I'm just amazed that I have to look offshore for better value. In an affluent country like Australia with an active day trading and investment community, I can't even find a decent trading platform.

    Not one with the exception if Iguana Spark which I think you pay a hell if allot to use in my view.
     
  5. cutz

    cutz

    Posts:
    1,963
    Likes Received:
    119
    Joined:
    Aug 10, 2008
    Yep, but I think we are a nation of property investors, that's where the demand is, real estate and banking, many people still view derivatives with suspicion, that's why only discuss with very few people in my everyday life.

    Personally I always wanted to keep most of my holdings in CHESS but still have access to a sophisticated platform and decent option brokerage rates, therefore I do my stuff across a couple of accounts, a big 4 bank is one, finally in the process of winding this one down but keeping trading capabilities for backup, had some issues with my local bank broker during the recent rout, it was pretty unsettling, I suspect some of their clients were too short unlimited risk gamma which had knock on effects down the line, suspicion only can't be sure.

    No issues on the other hand with Interactive Brokers, apart from a decent platform and awesome brokerage rates the systems are designed with some pretty vigilant risk management methodology, big consideration to be aware of in the overall scheme of things, when things get hot you don't need the extra worries of rouge traders taking down the brokerage and causing pain for the rest of the clientele.
     
    Last edited: Jul 10, 2020
Loading...

Share This Page