# Which stockbroker are you using?



## billv (8 March 2009)

Hi,

I am about to open up an online account for buying and selling shares
so I thought I'll start a poll and see what's popular and if anyone would like to tell me what the benefits are.

*Please note: You can select more than 1 option*


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## nizar (8 March 2009)

billv said:


> Hi,
> 
> I am about to open up an online account for buying and selling shares
> so I thought I'll start a poll and see what's popular and if anyone would like to tell me what the benefits are.
> ...




I noticed Interactive Brokers (IB) are not one of the options.
I have tried Westpac, Commsec, Etrade, Morrisons, and now IB, in that order.

The ones that flopped were the big ones (Etrade and Commsec). Westpac doable but very basic. Morrisons impressed me. I still have an account with them. But IB really is, in my opinion, the creme-de-la-creme of brokers in Australia (once you got them set up).


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## tech/a (9 March 2009)

IB

Cant go past them got everything!


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## jersey10 (9 March 2009)

tech/a said:


> IB
> 
> Cant go past them got everything!




Agree IB is very good, however i have had to open another account with an Aus broker because IB have limitations when it comes to shorting Aus stocks.


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## tech/a (9 March 2009)

jersey10 said:


> Agree IB is very good, however i have had to open another account with an Aus broker because IB have limitations when it comes to shorting Aus stocks.




Rather than shorting stocks I have shorted indexes and the SPI.
All on IB and easier than determining individual stock direction.

Thats how I got around it and of course not limited by the ban on Financials shorting.


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## cutz (9 March 2009)

jersey10 said:


> Agree IB is very good, however i have had to open another account with an Aus broker because IB have limitations when it comes to shorting Aus stocks.





Hi jersey10,

Which broker are you using for shorting?


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## billv (9 March 2009)

Thank you for your replies so far.
Is everyone who voted OTHER using interactive brokers?
It would be interesting to see if there is anyone else I missed...


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## -Bevo- (9 March 2009)

I voted for other, also a user of Interactive Brokers. Have used Comsec in the past when i was trading a weekly system.


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## MS+Tradesim (9 March 2009)

I'm currently using Commsec for stocks and IB for everything else but when I figure out how to do what I need to do in IB for stocks then Commsec will be fired.

IB is simply in a different league.


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## jersey10 (9 March 2009)

cutz said:


> Hi jersey10,
> 
> Which broker are you using for shorting?




I actually ended up opening a CFD account with MF Global.  I probably could've traded Aus CFDs with IB but being a chartist subscriber i was able to get a better deal on commissions with MF Global and i understand there are likely to be more issues with liquidity and slippage for Aus CFDs with IB as compared to MF Global.


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## Bill M (10 March 2009)

billv said:


> Hi,
> 
> I am about to open up an online account for buying and selling shares
> so I thought I'll start a poll and see what's popular and if anyone would like to tell me what the benefits are.
> ...




I use Commsec, ETrade and Easybroker (JDV).

Easybroker is cheapest at $26 for trades up to 50K

Commsec is cheapest for trades under 10K $19.95

ETrade is a bit expensive at $32.95 per trade but it comes down if you are a regular trader.

Out of those 3 I prefer the Commsec 3 in 1 package, I am not a heavy trader though.


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## fapturbo (10 March 2009)

billv said:


> Hi,
> 
> I am about to open up an online account for buying and selling shares
> so I thought I'll start a poll and see what's popular and if anyone would like to tell me what the benefits are.
> ...




For all your trading requirements

www.hometraderfm.com.au


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## sinner (10 March 2009)

tech/a said:


> Rather than shorting stocks I have shorted indexes and the SPI.
> All on IB and easier than determining individual stock direction.
> 
> Thats how I got around it and of course not limited by the ban on Financials shorting.




Hi tech/a,

Since you are with IB I would also look at SKF and SDS  There is also one for the DJIA but since wayneL will admonish us for looking at it we will stick to those above.

Everyone likes IB, but I am with IG and Commsec.

IG is quick and dirty, my kind of joint for trading even though sometimes they will skin me! 

Where else can ya go short London House Prices, long Cocoa, short "Erste Bank der Oesterreichischen" (Vienna ATX) all in the one joint no questions asked.

For ASX stocks I will buy using comsec (as I generally intend to hold for long term) and if I feel nescessary hedge by shorting on IG or shorting the instrument (gold or oil for example) I think will cause price damage.

IG also has DMA action if you have $5000 in your account I noticed, so if you play off the order book there's another plus. I use comsec for the order book, 'cos it's free!


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## Sir Osisofliver (10 March 2009)

billv said:


> Thank you for your replies so far.
> Is everyone who voted OTHER using interactive brokers?
> It would be interesting to see if there is anyone else I missed...




I said other.

Um I use me  Or more specifically I use Berndale as a wholesale third party executor.

Sir O


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## billv (10 March 2009)

Thank you for all the replies.
Some people made comment about IB not being on the list.
My apologies, I didn't know that it would have been so popular and I can't change it now


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