Searching the forum but haven't found much on Pearler…
They seem to be a new kid on the block, Chess sponsored so low risk?
They seem similar to selfwealth & Thinkmarkets.
Anyone have experience/ opinions?
Pearler for Low Cost Share Trading
LAussybob on 14/10/2021 - 00:08
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However, if you are a foreign resident you can still sign up with Pearler, but you will be charged a $200 account opening fee.
https://www.canstar.com.au/investor-hub/pearler-review/What? Scamming people is not a good way to get new people to sign up.
Similar to selfwealth as you said. But in addition, it has auto-invest feature and free brokerage for select ETFs.
Pearler has SOME ETFs as being free to buy, but otherwise its like $9.50 or so per trade, same as Selfwealth
Depending on size of trades OpenTrader also CHESS sponsored and could be cheaper as they start from $5
Superhero is $5, and free ETF purchases, but custodian not CHESS model
And then as someone else said, Stake is coming soon with $3/trade CHESS
Stake sounds good.
Looks like site features may also play a part on selecting a broker.. Pearler looks good and seem to have nice features.
I would never use stake again, there market price feature price jacks all the order price (e.g. if you place a market order and the screen shows price of $10, stake will put YOUR order price at $11.5 or something like that. This is the case with their US platform at least, hence why i never like to use their platform again. Honestly just waiting for US shares i bought to go up so i can just break even, and then never use them again.
I found superhero to be pretty accurate with market price displaying and giving your order price what it actually shows on screen.Market orders have slippage. Use limit order or OCO to avoid slippage.
@rektrading: I would consider that slippage to be not more than 5% (which is ALWAYS THE case with STAKE) to me its a open scam (that highest price doesn't even get that high but stake has power to charge you more for something costing way less. (essentially showing that they are not at all brokerage free, they hide costs here). Limit orders cannot always be successful (i mean sure you can put a 5% higher limit and be better of than market buy), But its not fair to be charging 10-20% in so called slippage.
@USER DC: Brokers don't set the market price, the MM does.
Use tighter limit orders, SL or OCO. The tools are there. Traders just have to learn to use them better.
stake $3/trade asx trading chess sponsored