Which stock broker to use?

[Chaka1988]

Hey

Im pretty newbe in the stock marketing area. I have a trading account with nab, but I found out that their stockbrokering fees are pretty expensive. Which one do you advice me to use?
Also, lets say I have a bank account with nab. Will I still be able to use commsec for trading? Will there be any costs associated with transferring money from my bank account to the trading account?

Thanks in advance

 

[Julia]

Chaka, have you asked these questions of the institutions concerned?

 

[Julia]

And Sir O has put together a great thread just for beginners containing all the info new people need to know.

It is here:
Newbie Lessons - All your questions answered.

https://www.aussiestockforums.com/forums/showthread.php?t=14370

If you take the time to read through this, you will find most of the answers to anything you need to know.

 

[nunthewiser]

where is sir o ? anyone hear from him ?

 

[Julia]

I was just wondering the same thing, nun, when I was looking up the reference for Chaka.

We haven't seen him here for quite some weeks.

Anyone know or hear from him?

 

[tom82]

Stock Broker accounts

What are some good stockbrokers?

I am thinking of the following brokers (not in any order):
NAB Trade (have accounts with NAB)
Belldirect
CMC Stockbroking (have a cfd account here)

Do you have any opinions, comments on these or other brokers?

What should one consider and take into account before opening an account?
What features / tools do you recommend in an account?

Thanks

 

[bluemind2005]

Which online trading account should I open for share trading !

Hi All,

I truly some assistance/guidance so as to know from where I should start doing doing my share trading.

I opened ANZ Etrade by they charging $20 behind every sing transaction, I feel that it is too much expensive. Is there is any much cheaper way?

I am very much new to this , but want to start share trading soon.

Your assistance/guidance would be very much appreciated.

Thank you

 

[burglar]

Re: Which online trading account should I open for share trading !

... Is there is any much cheaper way? ...

Hi bluemind2005,
Welcome to ASF!

Some are way cheaper ... each has its drawbacks.
Use the search facility. Do a search for "broker".

 

[Tano]

Re: Which online trading account should I open for share trading !

I made this table, Its very incomplete. If you know any wrong/missing info then please fix up

[Name	ASX Stock Trade	Conditional Orders	Live Data	Direct Market Access	Trade without funds?	Comments
BellDirect	$14.95--- $0 to 10k $25--- 10k to 25k 0.1%--- 25k+	Free	Free <5/mth or $10/month
CMC Markets	$9.90	Free	9.95/month	NO	NO	They are market makers, set their own price
Commsec	$19.95 --- $1-$10k (preferred) $29.95--- <$10k -$25k (preferred) 0.12%--- <25k	$14.95 up to $40,000, then 0.12%, in addition to brokerage			YES	Real time quotes and re-search. Inactive accounts =USD$68.00 per year. Secured By Government
ETrade - ANZ	$19.95 -- $1-$5000 $24.95-- $5001-$10000				NO	wouldn't give me credit until T3. apply for the CDIA account
HSBC Broking	$15.95 ---- <15k 0.11% <15k	Free	$10/month
IG Markets	0.1% of trade value Minimum AUD 8.00					Use for CFD's
Interactive Brokers (IB)	0.08%of trade value Minimum AUD 6.00					Expereienced investors. Not CHESS, hold under a common trust so you dont own shares. Use for trading not investing. IB pass on dividends. You must claim for youself and pay tax on dividends. Best Broker for US Trades
NAB Trade	$14.95 --- <$10000	$39.95 or 4 completed orders per month or $250k holdings or $25k in Nabtrade cash products	1 order per quarter, 20k holdings or 2k Nabtrade cash products		NO	NabTrade don't do the trade unless the money is in your account first Secured By Government
OptionsExpress	$14.95 for 0-8 trades Qtr (<1000 shares) $0.015/share for 0-8 trades Qtr (<1000 shares) $9.95 for 9+ trades Qtr (<1000 shares) $0.01/share 9+ trades Qtr (<1000 shares)	Free				Good for US Trades
Trader dealer	$33 flat fee up to 200k					Best for large <100k trades

 

[pixel]

Does anyone have experience with the brokers "Open Markets"?
I believe they're part of the CME Group, a substantial US outfit. Smaller brokers use them apparently as facilitators, channeling orders through into their DMA; but I don't know anything about their business practices, speed and reliability of order transaction, etc.

 

[ozi stocker]

Want to invest in a suggested stock, which broker?

A friend of mine has suggested a stock for me to invest in. I have approx $65k in cash and looking to invest approx $20k.

What would be the best online broker for this transaction? I was looking at commsec and it is asking if I want to trade as a company or personal user. I have a company, is there any benefit of trading under the company?

This will be my first large investment.

Thanks.

 

[Valued]

Re: Want to invest in a suggested stock, which broker?

Why are you investing such a large amount of cash just because your friend told you to? Is your friend a qualified professional? If not, perhaps you should see one before spending so much money on an investment.

Out of curiosity, what is the stock?

 

[ozi stocker]

I have researched the stock and comfortable with the investment. I have been advised not to disclose the stock.

 

[Valued]

I have researched the stock and comfortable with the investment. I have been advised not to disclose the stock.

Your friend who advised you, as well as yourself, should consider a deeper study of the laws of supply and demand. Given how supply and demand works, there is no disadvantage in disclosing stocks. The reason is if everyone stole your idea and bought the stock, the price would actually rise. This is why in some cases people disclose their position i.e. If I went to the CBA thread and started saying how great CBA is but had a long position, not disclosing my long position would be against the law. The reason is that it shows bias since the deliberate attempt to drum up interest in the stock benefits me. It can't disadvantage me if everyone thinks I am right. The more the merrier.

You should be worried if you're taking investment advice from someone who does not want you to discuss the investment with others.

If you were buying a business you would spend months researching and consult lawyers and accountants. You don't even spend an hour with a qualified financial adviser to drop 20k on something.

 

[ozi stocker]

If you were buying a business you would spend months researching and consult lawyers and accountants. You don't even spend an hour with a qualified financial adviser to drop 20k on something.

Can anyone recommend someone to see in Melbourne?

 

[Valued]

Can anyone recommend someone to see in Melbourne?

I don't know anyone in Melbourne but if you want some sort of idea of what might be a good long term investment strategy, I believe Nick Radge (a qualified financial advisor) has on his website (The Chartist) a growth portfolio option and my understanding is he gives specific buy and sell recommendations. His performance records are on the website so you could look at that. The trial is $19 for two weeks.

If you want specific advice on a particular stock, perhaps just googling certain firms and reading reviews online might be one way to find a good one?

 

[ROE]

I have researched the stock and comfortable with the investment. I have been advised not to disclose the stock.

Most people lose money via secret formula, secret seminar, secret stocks, secret institution
that they think they are the only one having access to these information

If you are discovering something and have not accumulate the stock, then it is wise to keep
it under wrap until you get your quota other than that most secret stuff are just losing venture

 

[ozi stocker]

Just in regards to the my previous question, I am self employed, should I therefor open a personal or business commsec account?

 

[Valued]

Just in regards to the my previous question, I am self employed, should I therefor open a personal or business commsec account?

No one wants to give you this sort of advice since it's a bit of a minefield liability wise. You should consult a professional in this regard. If you own a florist though, why would you sign your florist up to trade shares? If you were doing that, definitely see your accountant first!

 

[ProtonEnergy]

Re: Which online trading account should I open for share trading !

I made this table, Its very incomplete. If you know any wrong/missing info then please fix up

Thanks Tano for taking the time to put this table together. I'm a newbie and I'm at the stage of trying to choose a broker. I have a commsec account, but I eventually want to implement a basic conditional trading strategy and also some margin lending. It would be great if some of the more experienced forum members could add to this thread and provide feedback on some of the brokers mentioned in the table. eg: usability, issues etc. Commsec looks to be too expensive for conditional orders, and like others I'm interested in Bell and CMC.