Why is my Commsec brokerage $80?

[Simpletips]

Hi guys,

A few days ago I submitted a sell order below $25k. The day I submitted the order brokerage appeared to be $32. Today it's ramped up to $80.

I'm just curious to know why this happens and how I can avoid the additional $50.

Thanks

 

[Bill M]

Are you an internet preferred client? It appears as though you may not be as you have been charged .31% brokerage.

This is straight from their website:

To be eligible for Internet Preferred trading, you must be CHESS sponsored by CommSec and settle your trades through a CDIA or a CommSec or Colonial Margin Loan

If you don't fit that criteria then your fees will be higher.

 

[burglar]

... how I can avoid the additional $50 ...

Even the $32 is excessive.
Change broker.

Meanwhile challenge Commsec!

And if they don't waive the excess, recoup your loss with their offer of free brokerage:

http://www.investing.commsec.com.au...msec+-+Brand&gclid=CJf_r5iRt7UCFUpcpQodyigAYw

 

[Simpletips]

@burglar who do trade with?

:thankyou:

 

[burglar]

:thankyou:

My broker has a trading room.
The team are extremely helpful, professional and friendly.
They can be reached by phone, email or mail.
Email replies are prompt.


Can't see that Commsec would be different!? ?

 

[Simpletips]

Even the $32 is excessive.
Change broker.

Meanwhile challenge Commsec!

And if they don't waive the excess, recoup your loss with their offer of free brokerage:

http://www.investing.commsec.com.au...msec+-+Brand&gclid=CJf_r5iRt7UCFUpcpQodyigAYw

What price would be more inline with other brokerages? Who do you trade with ?

The sell order was executed today when should the money appear in my Comsec Account balance?

:thankyou:

 

[burglar]

What price would be more inline with other brokerages? Who do you trade with ?

The sell order was executed today when should the money appear in my Comsec Account balance?

:thankyou:

I am checking out Westpac at the moment.

http://wib.westpac.com.au/onlineinvesting/experienced/?CampaignCode=600NONWBC&FV=WOIHP&ap=1

 

[bellenuit]

The sell order was executed today when should the money appear in my Comsec Account balance?

Settlement is T+3, so you should have your money after the close of business on the third business day following the day of sale. If today is Thursday, T+3 would be Tuesday, assuming no public holidays.

If buying, you should have your money in your account to settle before the opening of business on T+3 if you are with CommSec. Some other brokers require the money be in the account on the actual buy date and won't allow you to execute the buy if the funds are not already in the account.

 

[Simpletips]

Settlement is T+3, so you should have your money after the close of business on the third business day following the day of sale. If today is Thursday, T+3 would be Tuesday, assuming no public holidays.

If buying, you should have your money in your account to settle before the opening of business on T+3 if you are with CommSec. Some other brokers require the money be in the account on the actual buy date and won't allow you to execute the buy if the funds are not already in the account.

Thanks for the informed reply!!