Stake or CMC Stock for DCA ETF Long Term

plastererJazz on 05/07/2022 - 18:32
Last edited 06/07/2022 - 09:07

Hi

Based on your experience or what you learned, which one would be best suited for long-term investing in AU ETF?

They both are CHESS sponsored.

No brokerage buying under $1000 for CMC but selling cost $11
$3 buy and sell in Stake

What are other factors to consider?

Edited - Hey guys appreciate all participating, I understand Stake has a lot of love here, could you please comment down below why would you pick Stake?

Anything bad experience with CMC? (not CFD the stock market)

Probably DCAing and less selling.

Thanks

Poll Options

  • 23
    Stake
  • 5
    CMC Stock
Financial

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stake.com
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Comments

  • TooSerious2 on 05/07/2022 - 18:35

    I went with CMC for regular DCA buying to hold. CMC offers joint accounts, which sealed the deal for me. Haven't started the drip feed yet, though.

  • SBOB on 05/07/2022 - 19:04

    I just signed up to CMC market for some future regular ETF buying due to the $0 buy fees for the orderr sizes I would be doing.

    Currently have some vhdg via Vanguards personal investor with regular deposits happening, but going to move some/most future buys to direct ETF

  • Trying2SaveABuck on 05/07/2022 - 20:36

    Both - but if i had to choose Stake

    • plastererJazz on 05/07/2022 - 21:24

      May I ask why?

      • Trying2SaveABuck on 05/07/2022 - 21:31

        cmc to DCA small amounts monthly but the bulk of my portfolio is in stake

        minimize fees essentially

        • plastererJazz on 06/07/2022 - 09:09

          May I safely assume that you have multiple HINs? how does that work out on tracking and tax return etc?

          • Trying2SaveABuck on 06/07/2022 - 11:48

            @plastererJazz: i have two makes minimal difference CMC and Stake track every trade can be a bit of work sourcing but i dont 'sell' often so most of the portfolio is ETFs or LIC

  • Shadowsfury on 05/07/2022 - 21:40

    If this is for ETFs which won't change in price much, I'd lean towards CMC for the free brokerage. Want to buy a few k at once? Spread your purchase across multiple days.

    Sign up to sharesight to track up to 10 holdings for free no matter how many trades you make for each holding.

    • dcep on 05/07/2022 - 22:22

      Does the 10 holdings limit, works as long as you don't hold over 10 holdings at a single point of time,

      Or is it strictly meant for the "first 10" holdings only, regardless if you've sold them to buy other different holdings.

      • Shadowsfury on 06/07/2022 - 21:39

        TBH I'm not sure how that works but once a financial year is over and you've done your taxes, save down the reporting and delete any mention of trades for holdings you no longer have might be a workaround.

      • Frozensage on 28/05/2023 - 09:09

        Just the top 10 in your portfolio at any one time. If you don’t go over 10 then no issues. If over 10 just crate another account and share back the portfolio with core account. Repeat every 10 holdings added.

        • dcep on 28/05/2023 - 14:30

          I think they removed CGT report feature from free version a while ago.

    • plastererJazz on 06/07/2022 - 09:10

      That was my intention to spread the purchase with no brokerage fee given it is a HOLD stream of investment the selling order of $11 fee doesn't concern me in this case.

  • NoPetNoKid on 06/07/2022 - 22:09

    Go with CMC to buy the ETFs and whenever you want to sell them, transfer them to Stake or any other platform with cheaper or free brokerage. I haven't tried it but it should work. However, there will be a small wait time while the transfer from one platform to another happens.

  • netbirds82 on 25/05/2023 - 11:14

    @plastererJazz, finally what was the platform you selected and how that works for you so far? I'm trying to figureout the same here.

    • plastererJazz on 25/05/2023 - 12:32
      +1

      CMC for DCA ETF

      • tik tok on 09/03/2024 - 07:58

        Hey, how long did CMC take to open an account? I submitted docs 4 weeks ago and every time their chat support says we are inundated with applications hence the delay - I can't read if they are fobbing me off or it genuinely does take a long time to make an account active.

        • plastererJazz on 09/03/2024 - 09:44
          +1

          My experience was quite smooth, it just a couple of days to KYC my identity.

          This isn't a credit card or loan application, they don't have reason to reject customers.

          I would suggest you call them directly with the application number on it.

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