Online stockbrokers offers

• 

  tomleonhart on 18/11/2015 - 13:36

  +1

  https://www.commsec.com.au/homeoffer?icid=90002-public-home-…

  This is one. I haven't been keeping up with other platforms. Someone else may be able to enlighten us !

• 

  oldrocker on 18/11/2015 - 14:08

  Thanks Tom, was with them when they first started up. Will keep in mind, cheers

• 

  gringo on 18/11/2015 - 16:01

  http://www.hsbc.com.au/1/2/sharetrading?WT.ac=AUH_invtradehp…

  this is pretty good as the trade price isn't a ripoff also ($15.95)

  opening a hsbc bank account for settlement is a bit of an arse though

  • 

    oldrocker on 18/11/2015 - 16:06

    Thanks gringo, agree with your comment opening account is a PITA, from personal experience! cheers

  • 

    momov3 on 19/11/2015 - 14:55

    +1

    Agree! Have been with CommSEc for as long as I remember, and their fees are getting too much per trade. I switched to HSBC only last week, and looking forward to using their service. No problems at all opening the bank a/c, (Day to Day and Flexi Saver) both together online instant approval and now waiting for the security device. I just have to time so that money transferred into the HSBC is all there when placing a trade and it can take 48 hours to do an internet transfer from another account. Can anyone enlighten with ETrade? I believe it's free, but had to wait so long over the phone that I hung up.

    • 

      Mad Max on 19/11/2015 - 23:31

      +1

      Westpac Broking has a broking account that can settle trades on an external bank account. And they give you up to $25k credit (plus the whole value of your holding with them) to buy stock. That way you only move the money once you have buoght shares (T +3 settlement). Very expensive brokerage though…

      • 

        mskeggs on 20/11/2015 - 21:12

        +1

        $20 per trade via my westpac acc. Not too bad.

      • 

        oldrocker on 21/11/2015 - 09:06

        @mskeggs:
        Does that have the features that maxi commented on above, I.e. 25k credit etc?

      • 

        Mad Max on 21/11/2015 - 10:16

        +2

        @oldrocker:
        The brokerage rate that mskekks mentions is with the Westpac linked integrated cash management account. That way the brokerage is $19.95 or 0.11% of the trade value, but you do not get any credit. You can only place a buy order if you have funds or up to the value of your holdings.
        The Westpac trading account I mentioned lets you place buy orders up to $25k even if you have no funds or holdings and settles on any other bank account. Brokerage is 0.35%…very expensive

      • 

        mskeggs on 21/11/2015 - 11:03

        +1

        @maxi:
        I bow to maxi's knowledge on this. My westpac account is linked to a westpac cash account that it settles from on t+3. It allows me to trade even if there are not enough funds to settle in the cash account at the time of trade.
        So I think you could arrange it so funds transferred into the cash account within the T+3.
        I haven't ever had to make a buy which exceeded the total value of my broker sponsored holdings, so I don't know if they extend an additional $25k "credit" in that circumstance.

      • 

        oldrocker on 22/11/2015 - 08:14

        @maxi: thanks for info. Yes, brokerage on high side, but it may allow you to jump onto buying opportunities when they present themselves. Is this account available online or does one have to go into a branch? Also, assume there's no monthly account keeping fee that Banks love so much. Cheers

      • 

        oldrocker on 22/11/2015 - 08:19

        @mskeggs: that's a good feature, being able to buy without funds in the cash account!I don't think Bell allows that. I'd better check them out, thanks.

      • 

        Mad Max on 22/11/2015 - 10:55

        +1

        @oldrocker:
        Yes the account is a normal online broking account and no extra fees (apart the steep brokerage). And yes you can buy without having funds available. Which means that you can keep your cash earning the higher interest in an online savings account all the time and only transfer it to the linked bank account on t+2 day to be there by t+3 when Westpac debits the account for settlement.
        Also if the trade goes your way and you make money on the stock straight away and want to sell within t+2 you do not even need to transfer the money. They just credit your account with the the gain (or debit it with the loss if you got it wrong…).

      • 

        Mad Max on 22/11/2015 - 22:43

        @mskeggs:
        Please let me know if they allow it and if the brokerage is better than 0.35%.

• 

  mskeggs on 18/11/2015 - 16:07

  +1

  I use Bell Direct, because they gave me $200 to open it some years ago via an auto club offer.
  The offer seems to have gone.
  Might be worth flicking through money magazine or similar at the newsagent to see what is on offer.