I use Self Wealth, but always keen to keen sure I'm using the best.
Does anyone go with issuer sponsored instead of chess sponsored?
Who do you use to buy Shares
deme on 10/02/2021 - 23:34
Comments
Oh I forgot about getting the free cash from spaceship
How does spaceship if you 'free money' ?
Sign up referral $10, and $10 for every referral.
Broker.
CommonSec for ease of use and convenience but self wealth is cheaper.
CommonSec but self wealth is cheaper for transactions > $1000
Money
SelfWealth and nabtrade
CMC/Stake
FTX
Jordan Belford….
Belfort?
Commsmell and Fidelity as the fund manager for overseas stock
I trade US stocks. Aussie stocks are just terrible and operate in an alternate reality to fundamentals. Probably because the market is so small, it's easy to manipulate.
The exception is ETFs that track other markets, eg. iShares' IVV that tracks the S&P 500.You don't like franking credits?
S&P 500 has an annual average return of 13.6% over the last 10 years. What sort of dividend yield are you getting on ASX companies? 5%?
I made an application with certified documents submitted to Selfwealth sometimes ago. There was a response that they will take serious and fast action to approve my case. It was several days now and yet no constructive response yet from them. A bit disappointed. I am currently with CommSec which I consider very efficient but the brokerage fees are bit too expensive .
I use SelfWealth for ASX and Stake for US shares.
I would not recommend Stake, currently in the process of signing up to Schwab.
What not stake?
I believe you don't actually own any shares you buy using Stake. (Similar to Robinhood.)
The way US shares work is that you don’t own US shares at all generally. They’re held by a custodian, unlike ASX shares which are CHESS sponsored. That’s just how it is.
They had a lot of performance issues a couple of weeks ago when GME was going nuts. People complained that the money they transferred over took a long time to arrive as well. Also their clearinghouse sells payment for order flow, I’ve noticed when I’ve put trades in the price I get is either too high (for buy orders) or too low (for sell orders).
They just aren’t a very sophisticated platform.
It doesn't make sense that the stock (financial) markets still cling on to T+2 in a world on the brink of autonomous vehicles and Sophia. There is tech right now that can settle 100m dollars worth of transactions in a matter of seconds.
People can press the buy/sell button and see the liquidity tx go from one account to the other account with no interference from 3rd parties. This means no more manipulation from brokers like Robinhood or their hedge fund bosses.
Expensive fx fees
You cannot make limit orders without paying a fee anymore.
Who do you use to buy Shares
I buy them myself.
Good for you.
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Self wealth but also indirectly buy using SPACESHIP