On-line broker
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     bundy
Member
Username: bundy
Post Number: 412
Registered: 03-2003
Rating: N/A
Votes: 0
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| | Wednesday, March 07, 2007 - 03:08 pm: |  
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Well, this is an unusual role for me - a newbie asking a question.
I have been out of the loop for a while.
After 15 months of basically travelling, fishing, playing bridge and playing at being retired - I find I am getting a bit bored and want to put some lazy money into the market.
I don't want to be an active trader - I want to be a lazy trader - selecting my trades at the end of the day - and am looking for a reliable and inexpensive on-line broker that offers the full range of conditional orders, adjustable as required.
I've had a look around, of course, and Commsec look ok to m - but I have never had any experience with them - I used to use Sanford for options but they don't seem to offer as much as Commsec - although there seems to be some conflicting info on their site - dunno.
Any comments - positive or negative about either - or any broker - would be appreciated.
I guess eventually I'll probably leverage with CFD's - I note there is quite a thread on here about CFD providers - but if anyone has any update on it - their comments would also be appreciated.
---
Bundy
Good judgment is gained through experience.
Experience is gained through poor judgment.
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perler59
Member
Username: perler59
Post Number: 931
Registered: 09-2003
Rating: N/A
Votes: 0
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| | Wednesday, March 07, 2007 - 08:23 pm: |
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Hi Bundy 
Welcome back. I had an AOT account when they were taken over by Commsec. The combination of WebIRESS (full market depth and match price, up to the minute company releases), excellent speed, and $33 per contract note (at multiple price levels) I think is very good. You can buy and sell the same share all day for $66 total. They tell me I can trade CFDs on the same platform but I haven't applied for that.
I didn't have any speed issues during the recent panic, unlike many online brokers, including regular Commsec, I hear. Some traders were seeing the tape 10 minutes delayed!
I don't know if you can get an AOT-Commsec account, but if you can, go for it
IG markets are now very competitive, with wide coverage and have an interesting CSV file of what you can do with which shares, here:
http://www.igmarkets.com.au/content/sh_margin_rates_aum.html
http://sttc.net.au/~stever
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wadda
Member
Username: wadda
Post Number: 439
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Thursday, March 08, 2007 - 12:02 am: |
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Bundy,
I have to agree with P59. I also have the former AOT now Commsec webIress platform for real shares and IG Markets for CFDs. I also have a CFD account with City Index (formerly GreenCFD).
I don't use half the functions of the AOT-Commsec platform and have been considering downgrading to reduce brokerage fees (I think Commsec normally platform charges 14.95 per trade and then a bit extra if you want a stop compared to the $33 as mentioned above). The AOT-Commsec platform also charges by the minute for intra-day trading, though if you only want to trade EOD then you are not charged by the minute outside of ASX hours (or 30 mins either side I think). There is a monthly ASX data fee depending on number of trades per month (the CFD providers charge this as well, depending on trades and/or volume).
Not much difference between IG and City Index for CFD platform though I find the City Index annoying for outside of hours/contingency trades as they'll quote the bid/ask when setting an Order To Open which outside of hours is sometimes highly sceptical, therefore pushing you into a higher /lower than wished for price.
Cheers,
wadda
(Message edited by wadda on March 08, 2007)
"Buy low, sell high is a cliche, not a blueprint for action. It blinds investors to the professionals' approach of buying high and selling higher." Stan Weinstein
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mcombbs
Member
Username: mcombbs
Post Number: 18
Registered: 03-2005Rating: N/A
Votes: 0
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| | Saturday, March 10, 2007 - 06:59 pm: |
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I think Comsec is great (for shares and options, dunno about CFDs). Brokerage is cheap, platform easy to use and reliable enough (certainly better than the cheap CFD platforms I've used), comes with free realtime data and research.
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auric
Member
Username: auric
Post Number: 3
Registered: 07-2004Rating: N/A
Votes: 0
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| | Saturday, July 07, 2007 - 09:00 pm: |
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looks like you can trade asx shares with ib brokers
finally might get some competition
http://www.interactivebrokers.com/en/tradi...=&ib_entity=llc
see data fee only 37.50
cheers
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