Hey guys, looking to buy some ETF's and not sure which site is the best to get them off. I'm looking at selfwealth or superhero. Looking to hold these long term.
Won't really be buying shares or daytrading but will be making a couple purchases at the start then hopefully buying every couple of months.
Best Site to Buy ETF's
ClintonL on 25/01/2022 - 09:05
Comments
SelfWealth. Use a referral for 5 free trades.
stake is the cheapest so go for them, your shares are in CHESS so doesnt matter what broker you use you are in safe hand as long as they are CHESS sponsor
so go for the cheapest brokerage one and that is Stake
$3 per trade unlimited parcel size, cost $3 to buy $5000 or $1000 or $10,000 etc…Super hero is not CHESS sponsor and it cost more I wouldn't go there
if you are new and don't know what CHESS is read thishttps://www.asx.com.au/documents/research/chess_brochure.pdf
Some you can buy directly such as through Vanguard
Selfwealth and Stake seem to be popular on OBZ and have referral bonuses for x free tradesThe big banks also allow you to buy via their own trading platforms but the buy/sell fees tend to be much higher
Also make sure to register with Chess after your purchase and complete your banking details so you can receive those dividends - or set them to auto reinvest
Just throwing it out there - if you plan on doing frequent, smaller value purchases maybe consider something like Raiz or Spaceship who operate on a monthly fee rather then a per transaction and run their own funds. Even with Selfwealth's $9.50 per trade it can add up and eat into your investments
Also make sure to register with Chess after your purchase
You can't purchase without a HIN (either broker sponsored or issuer sponsored). Your first broker will assign this number and it then transfers from broker to broker.
What you are referring to is the share registry such as Compushare, Link, etc
HIN is automate, you get given one when you signed up to a CHESS sponsor broker, no need to do anything
that HIN is unique to that broker and you authorised only that broker to buy and sell your shares on that HINyou signed up another CHESS sponsor broker, you get another HIN and again this new broker can only act on your instruction
with that HIN only.Raiz or Spaceship and all those guys I would advices most people to stay away due to custodian structure, it maybe ok before as you don't have too many option
but with Stake $3 and CHESS sponsor it is a game changer and a disruptor, there is no reason to go any where else.
even with $1000 purchase $3 still good in term of brokerage cost works out to be around 0.03%
This might get downvoted but if you're holding them long term I would recommend nabtrade or commsec or similar. You'll pay a couple of dollars more for the trade but because they're with a massive "too big to fail" company you can just set and forget and never have to think about it.
If you go with a CHESS-sponsored broker, this doesn't matter. The share are legally yours and you just transfer them to another broker.
The only issue is if you're with a custodian broker where the shares aren't legally yours.
Yeah I get it. It's just a pain in the arse if you had to do that. If i'm holding an ETF for 10+ years or whatever and assuming we're talking money in the thousands, i'd rather not go with a startup or a smaller player. For the extra $10 i'd rather just use the bank i'm currently with. i know it's not the ozbargain way but it's the cost of convenience for me. Each to their own though.
Yeah I get it
I'd suggest you don't get it.
The size of the broker makes no difference if they are with CHESS.
The broker is the conduit to make purchases of shares (like real estate agent for buying a house).
CHESS (which is part of the ASX) is the registry of who owns the shares (like the Land Titles Office).
You have no idea on how CHESS work, keep paying your high commission, I paid $2000 in brokerage each year before Stake arrived
I now pay $200-$300 or less for the same amount of Trades.I made 6 trades since Joining Stake cost $18 bucks, on comsec it would cost me $174, extra 156 bucks to my pocket
the $3 unlimited parcel is a beauty, I can pop 50K trades and cost $3 on one of the big4 brokerages it would cost $55 outrageous saving
big4 platform the bigger your trade parcel the bigger brokerage you paid, so the bigger the trade the bigger your saving on stake@MrMarket: I understand exactly how Chess works. I use Stake too and it's great. You're not hearing the original question though. He/she is looking to invest in an ETF long-term, which means they're probably maybe doing 1 trade per year max. So yeah, they might pay an extra $10 per year on what might be a $50000 trade to have it integrated within their own bank. For me it's worth the convenience.
@sevendollarsfifty: what about too big too failed broker scary stuff? it doesn't affect your CHESS holding if some small dude or big dude gone broke?
and if he is ETF and DCA for long term it even better to go with Stake, as it lower his brokerage cost and get better return in the long runlet say he buy $1000 every 3 months and don't intend to sell, so 4 trades a year
the 4 big charge $10 bucks for $1000 parcel = $40 in brokerage compared to stake $12straight away you add an extra $28 return on $4000 and if you compound it over many years with the same process
save $30 here and there it could add to thousand in 30-40 yearshe get even more saving if later on he buy bigger parcel, that brokerage can amounts to thousands
@MrMarket: Fair enough. I guess I misspoke about the "too big to fail" stuff. I guess i'm thinking about my own situation where I bought one ETF and am just planning on holding it until the kids get older. I'm not as confident that Stake is going to be around in 20 years without being at least bought out by another company…. which means possibly changing websites, apps etc if I want to access the interface to be able to view my holding (or potentially not being around at all). So I just paid the extra $10 to stick it in NabTrade which means I can set and forget it and not have to worry about it. But I see your point too.
@sevendollarsfifty: Also I didn't see he was buying every couple of months! Did he edit the original post or did I miss that. If that's the case then my advice is terrible and disregard everything I've said and i'm an idiot! :-/
@sevendollarsfifty: all up for discussion I am just giving an example, you are not an idiot nor any people who want to get ask for information to make an informed decision
sorry about the harsh word in early post
correct
Cheers thanks…does anyone have a referral code?
I use Open Trader which before Stake dropped their prices was (one of) the cheapest for trades. If I was to choose right now I'd choose Stake as they are cheaper and their website/app looks more user-friendly and has more info than Open Trader.
Stake
There is no best site. All brokers have the same responsibilities to their users. The only difference is how hard they get shilled by the people 👇.
Just pick one and buy.