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Which is the best online broker?

Discussion in 'Shares' started by alanc, 17th Feb, 2008.

  1. alanc

    alanc Member

    Joined:
    28th Nov, 2007
    Posts:
    11
    Location:
    North Coast, NSW
    Hi all,

    I've just discovered I've been slugged $54 per stock to transfer sponsorship of some inherited shares to my Commsec CHESS account - and I hate hidden bank fees. Can anyone recommend another online broker - cheap, reliable, easy to use?

    Thanks
     
  2. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Alan,

    That's pretty rough charging transferring stock inwards. I can understand if it was outwards as they would potentially lose brokerage that they might earn.

    Could've been easier leaving it Issuer Sponsored and letting the share registry do the transfer as they get paid by the company to do it.

    It looks like they are "Determined to be Different"...
     
  3. alanc

    alanc Member

    Joined:
    28th Nov, 2007
    Posts:
    11
    Location:
    North Coast, NSW
    Hi AsxBroker,

    Yep, if I'd known about the charge I would have gone issuer sponsored. But I didn't. I'm going to fight them for it, though. I hate hidden bank charges.

    alanc
     
  4. The Stig

    The Stig Well-Known Member

    Joined:
    3rd Dec, 2007
    Posts:
    190
    Location:
    Central Coast NSW
    There is a serious lack of competition for online brokers in Australia I think.
     
  5. JudgeDreadz

    JudgeDreadz Well-Known Member

    Joined:
    25th Mar, 2009
    Posts:
    109
    Location:
    Sydney
    I am very very n00b to trading. I am planning on taking a hands-on approach to learning and injecting $10k into an online broking account.

    A few questions:
    1) is this enough to learn some tough but valuable lessons?
    2) can anyone recommend for me a good online broker? i hear Bell Direct are good because of the cheap brokerage and MQ Prime are good because your cash surplus can earn interest while not invested (or is this a standard feature of most accounts).

    Any help will be greatly appreciated =)