Hey everyone I was just about to sign up to a share trading account, any suggestions on what would be best? Thanks in advance.
Share Trading Account
dannyeei on 22/11/2013 - 15:13
Comments
Wow that sign on credit seems good. I think I'll go with them. Thank you
Another +1 for Bell Direct, easy to use & cheap. Perfect if you want to just invest a bit in a few stocks.
It will depend on what you use and how often/how much you trade.
I went with CMC Markets
If it's a small amount then Commsec is great. $19.95 brokerage and the app is amazing for keeping track of your portfolio
Just wondering- why not e trade ?
Sorry to bump an old thread but rather than start a new one.
I'm in a similar boat to the OP at this point in time, looking to get back into shares.
CMC is at 11 per trade, NAB 14.95, Bell 15. Can anyone share experiences on platform, ease of application, ease of funds transfers. I used to be with westpac, the platform was ok, it would be nice to be able to set stops though.
Transfers from NAB banking accounts to NAB trading account take only seconds. $14.95 per trade is not bad. Would consider it if you are with NAB anyway. Also nice to have your finances on one page with one log in.
have used cmc and commsec.
cmc is the cheapest and is fine to use. i don't do much research, but its easy to move money in and out… dunno about stop losses, i think they have the option, have never used.
Regarding ukulele -> CMC is at 11 per trade, NAB 14.95, Bell 15.
*Just my opinion below …
At Igmarkets.com.au ASX equities trade at $8 per side, up to $8000, and 0.1% above that. US stocks I think are 2cents per side (from memory).
Anyway, after 15years trading in finance arena, Market Makers like CMC & IG, all trade against you and use your info against you, so if you know what you are up against (real odds). IG is a pretty safe and solid place to make some money speculating/smart-gambling wise.
Be aware with CFD's you dont own the actual shares as you do with Bell Direct, etc, so if they fold you likely loose everything.
With interest rates in a coma now, it's back to trading (hedging global stock indices).
"aussiemillion" -> Many people consider setting stop losses at MM's, is asking for them to take your money, and many times they do, using false spikes etc…
Also a point, Igmarkets.com.au stopped providing margin calls years ago, which I think is just wrong in margined trading.
Hey thanks Noyanono. I think you are a fair cut above me in terms of experience (and probably cash). CFDs are a bit too risky for me I think, I am more of a buy and hold type of investor, rather than trader.
CFDs are good though because you can short easily however I am also after the tax benefits of dividends. I won't be leveraging at all at this point in time.
Tried CFDs with IG, total rip off artists. Charges 10x more than the real amount in negative dividends when you short, doesn't credit proper amount of dividends when you long. Ridiculous off market prices to trigger your SL.
You're much better off using Comsec or Bell, buy and sell with the actual shares and options.
I've only started 'investing' in shares since the beginning of 2014 and am happy with Commsec, their app is great, quick and simple to use. I think they have a free $600 brokerage introductory period. This was ideal for me as I was simply investing and not 'trading' so the higher brokerage costs wasn't a huge factor.
They almost always tend to have the $600 offer as per below:
https://www.commsec.com.au/homeoffer?icid=90002-public-home-…
I would look at Bell Direct. Good pricing , great platform. Also for RACQ members have sign on credit of $100. RACQ Also for RACV in Victoria and probably other states as well.