Which is the best online broker?

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

 

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"...

 

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

 

There is a serious lack of competition for online brokers in Australia I think.

 

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 =)