Roomies,[
]I know a few of you put money in the stock market, we have some cash reserved for this and want to start putting this into work.
What is the cheapest brokerage rates you know ?
ComSec online is $19.95 for transactions up to $10,000. https://www.comsec.com.au/
Is this a cheap rate, or is there better ?
[]Regards,
Arty.[
]
“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)Arty,
It depends on the number of trades per month and the amount of each individual trade.
The cheapest isn’t always the least expensive, depending on what you want from your broker.
Some others to check out:
http://www.quicktrade.com.au
http://www.hsbc.com.au
http://www.etrade.com.auAlso a really good site to compare prices and features of all online brokers is:
http://www.brokerchoice.com.auCheers
WayneWayne, many thanks for that!
I’ll check out the web sites.
I found that comsec needs you to start with $5,000 in there investment account.[xx(]
I just want to play with $1,000 for now.[^]
Regards,
Arty.[
]
“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)Hi Arty, If you are buying more than 10k, then Westpac is cheaper eg 24.95 for <25k, then 0.11% for >= 25k, cf Comsec $19.95 <= 10k; $29.95 <= 20k, then 0.12%>20k.
Etrade is quantity of trades based:
First 10 Trades $32.95 then 0.11% for >$30,000
11th to 20th Trades $27.45 then 0.11% for >$25,000
21st & Subsequent Trades $21.95 then 0.11% for >$20,000Not sure of any others.
Regards, JimArty2003
if you are after a tip i suggested on this form a week ago a stock called FDR (Federation), it came out with an announcement today and from my source it will go for a bit of a run. this stock has been a Dog heading south for some time but many believe it may have turned the corner with its new CEO and aquisitions.
Do your own homework but some trader friends believe it will move to 20 cents in the next couple of months. (there is risk with this stock)regards westan
Sorry Arty, posted while you were replying to Wayne. I don’t think you need a cash management account with Westpac broking at westpac.com.au, and they don’t have a minimum deposit & minimum trade. Remember though that the smaller the trade, the more significant the brokerage is.
I’m not sure what you expect from an online broker Wayne. The best broker is the cheapest broker if you are buying on line, as you don’t expect any advice.
Jim.
PS from WP Website:
“All purchase orders must result in a purchase value of at least $500, excluding brokerage and GST unless you have a registered holding in the security with Westpac Broking. There is no minimum limit for sales.”oh great shares gurus,
a friend of mine is doing great with this and says I should stick 100 bucks in it or 20 euros and try it for a while until i feel comfortable….
You can’t join up unless you have a referral. I can join under him. What do you think????
They are returning 1 -2 percent per day.
sounds too good to be true. Is it?
I’m not sure what you expect from an online broker Wayne. The best broker is the cheapest broker if you are buying on line, as you don’t expect any advice.
Jim,
You may wish to have a contingency order capability such as offered by http://www.aotonline.com.au …or perhaps dynamic data, up to the second newswires and a multiwindow trading platform with live intraday charts(the webiress platform, which is available from aot, hsbc, etrade-pro and others.
Like I said the cheapest is not necessarily the least expensive.
For Arties situation I agree westpac is the least hassle, or perhaps etrade.
Cheers
Wayne
oh great shares gurus,a friend of mine is doing great with this and says I should stick 100 bucks in it or 20 euros and try it for a while until i feel comfortable….
You can’t join up unless you have a referral. I can join under him. What do you think????
They are returning 1 -2 percent per day.
sounds too good to be true. Is it?
Wow, a mlm sharetrading idea.
personally, I would give this a very wide berth unless its just a $100 punt.
Cheers
WayneSounds pretty good Mini, but it’s a bit mathematically impossible to get 2% per day for too long. Let’s assume you get 2% per day consistently for three years. After 1 year you’ve multiplied your initial deposit by 1377, but after 3 years it’s 2.6 billion! After 10 years its 24 followed by 30 zeros! Ie, you’ll suck out all currency from the known universe in a short time.[
]
Sorry Wayne, I guess I’ve only ever traded in a simplistic and usually negative fashion[]. That’s all a bit above my head.
Jim.The cheapest brokerage is in fact zero, that’s correct zero AND they will lend you 95% of the money but only on ASX 200 stocks.
try dealforfree.com.au
Arty2003, I think you will find that you only need the 5K to open the account, you can withdraw it the next day , I couldnt find any where that you had to maintain a balance of 5K. Check further if your interested.
BC
The cheapest brokerage is in fact zero, that’s correct zero AND they will lend you 95% of the money but only on ASX 200 stocks.try dealforfree.com.au
True, xyzzy.
But free effective brokerage only realy applies to the biggest stocks. On the smaller more volitile stocks the wider spreads will cost you more than brokerage.
But I don’t think they will take on a novice sharetrader, I may be wrong there.
I wouldn’t recommend D4F for a beginning trader. This is in fact who they make most of their money from because they lose it so quickly with CFD’s.
You have to understand all those fun trading concepts such as risk, reward, position sizing, derivitaves, leverage etc etc etc .
If you’re a seasoned ASX guerilla fighter, go for it. If you can make good money trading FPO’s then you will be fine with CFD’s up to a certain account size(and you can short sell as well[
]) If you occassionally suffer drawdown in your normal account, the leverage in a CFD account will eat your capital alive.Remember the words of Che Guevara:
“The first rule of guerilla warefare is survival”Cheers
WayneGeez.. this post was active last night! [
]Thank you for all the info !.
I already have an online banking account through westpac, I’ll look into creating an online shares account too. []
I did realise that Westpac does it too.Im just interested in putting $500 in the company I work for at the moment, to get a feel for it first, I only want to commit $1,000 to start with.
Many Many Thanks to all [^]
Regards,
Arty.[
]
“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)Arty, it IS a good idea to start off with very little money. The reason is that one should consider the first six to twelve months as a learning stage i.e. NOT as a time to expect to be making any money.
On the one hand this means that when making small trades one’s expenses will make it hard (if not impossible) to come out on top. On the other hand it prevents one from losing a lot of money.
When you use the words ‘I want to play etc’ it makes me fear that you don’t have sufficient knowledge what it is that you are doing in the sharemarket.
Remember that it is easier to lose one’s money than to make it (be it by trading in the share market or by working in a job).
Before even getting your feet wet by putting your money on the line it is essential to have a proven trading strategy.
I can assure you that following tips is not a winning strategy. That is only for people who want to dream.
Even if the tips are fairdinkum tips rather than
an attempt to make you buy whilst the tipper himself is offloading the shares onto people like yourself who follow runours, it wpould still not be a good idea to follow others’ advice.The reason for that is that if one takes advice to buy one should also follow that same person’s advice as to when to get out.
Again, mostly tips are given by either idits or conmen.
If you really want to be serious about the share market prepare yourself for a lengthy learning curve.
It would be desireable to download the share price data every day and display it via software so that you with one glance immediately get the idea what is going on and whether it is the time to buy, sell or to stay out of that particular
share.A good book to start off one’s study with would be ‘Listen to the Market’ by Ivan Krastins which is in essence a quick learning course. You can buy this book for about $ 90-00.
Suitable software will set you back at least a thousand dollars.
The daily update of prices will cost about $ 800 a year.
There is however some free software aound (as is free data).
One place to start looking is http://www.incrediblecharts.com.au
Also have a look at FCharts
http://members.iinet.net.au/~simonh/spacejock/Pisces 133
Cheers,
There
One would need to
Peter,
That really is great advice.
Do you mind if I put that on my website, with credits to your good self?
email me [
] [email protected]Cheers
Wayne
]
]
]
]. That’s all a bit above my head.
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