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Best online broker

Discussion in 'Shares' started by PiggyBank, 25th Nov, 2005.

  1. PiggyBank

    PiggyBank Member

    16th Aug, 2005
    This is our situation:
    - I have got a HDT to hold investment assets and now I am planning buy shares as well for the first time through HDT.
    - Have set up a margin loan facility with LE for the HDT. LE is saying that now I should get the broker to send the buy/sell contract to LE for all money transactions to finalised.

    I want to setup an account with an online trading facility to do the trading. Wanted to know which online broker is the best in terms of ease of getting the transactions done through a margin loan facility. Is there a broker that can do straight through market orders when there is a margin loan facility?

    Thanks in advance.

  2. Gameboy

    Gameboy Member

    15th Sep, 2005
    It can be a difficult one, as much depends on how often you’ll trade. I believe comsec is about the cheapest but for mine the best would be these guys , also e-trade might be worth a look.

    Trade dealer, e-trade and comsec aot use the webiress platform to trade from, its impressive software, but if your not an active trader its isn’t cheap.

    Myself I used aotonline which was taken over by comsec, but they wont allow any new accounts onto the aot section. Trade dealer I believe is run by the same people as aotonline and very simular pricing.

    Margin loan though each should be as easy as buying the shares, but require you to be setup with their margin lender.
  3. Ol School Skata

    Ol School Skata Well-Known Member

    7th Nov, 2005
    I am with commsec. I am not sure if they still have this deal going, but i joined commsec - opened my trading account and a Cash Direct Investment Account (CDIA) with $5000 and received all online trades for $19.95. I also opened an options account with them, and as long as you place one options trade per quarter, i get to use their platform, "Professional Trader" for free.

    PT is very impressive - i don't use half of the features but makes it easy to buy stocks and options, write covered calls etc through.

    Not sure about other providers as i am happy with Commsec.

    I am just opening a margin lending account myself - share trades through commsec using margin funds are still only $19.95.