Minimum Purchase Amount

Hi Guys,

Quick question as I am either misunderstanding or missing something.

Commsec has a minimum purchase order of $500 in stock, I have put through an order for this however when I look at the position in market I can see someone has an order for 10 shares at $0.001 which would be well under the $500 amount.

Any idea's? I have attached a screen shot to show.

Thanks

 

Hi just expanding on this topic if you don't mind as i also had a question that fitted into the subheading.

I usually in best in $1000 parcels usually one or 2 a month and i am a little confused about if i am doing a right thing.

For the last few years i have invested in a managed fund that is closing there fund that will look force me too take a capital loss this year(this experience has left a bad taste in my mouth.

I have been looking at 2 investment strategies:

Invest direct in shares; although i do not have enough money too diversify i could ensure i invest in quality shares using cmc that has cheap trades e.g. $9 per trade.

Or

Invest back in a managed fund or my choosing (perpetual has caught my eye).

I guess i am looking for experiences on am i too small of a investor at this stage too invest directly? or should i leave it up too a professional e.g. a managed fund with decent ongoing fees.

I have had some good and bad experiences with direct investments on share trading my very first trade was ABC i lost money. and good trades with NIB who just seem too grow n grow.

i am only 26 so i am a long term investor and i don't mind volatility.

and too answer the question of this post i think not all trading platforms have min buys i don't think. the other thing i was thing is maybe its transfer of reinvestments etc (not sure just a thought that came too my head).

Jeffery

 

Beni, When you first buy shares in any particular company your first buy must be over $500 after that you can buy and sell any amount but small amounts will be vetted by your broker/platform which ever the case may be