# HSBC Online Trading Facility



## GreatPig (14 March 2005)

Has anyone used the HSBC online trading facility - or know much about it? In particular, is it reliable and fast? I'm only considering it for trading shares, not derivatives.

I'm currently using NAB online trading for some shares, but need another facility as well (don't want to use NAB for both). HSBC looks quite good as it has good rates and a direct debit service to an external bank account (which I want to link to an account in NAB).

By comparison, CommSec & Etrade both have higher rates and no direct debit facility (that I can see). Westpac is looking the next best, but its rates are a little higher than HSBC's too.

Thanks.

Cheers,
GP


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## roofus (14 March 2005)

What ever you do dont, I repeat,dont go to Westpac. They cost me $6000 one day when they "lost" my money and I couldnt trade untill it was "found".
It was "found" the next day but by then it was too late..
Im still having therapy over it.


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## TjamesX (15 March 2005)

GP,

I use HSBC for broking - and I have had no problems with them. I have nothing to compare it to though and I don't do 'day' trading - but it seems pretty fast. I have the broking account linked to their online savings accounts - getting 4.5% (may be better rate now) on any balance in that account, calculated daily - paid monthly. You can also get a debit card linked to the account which you can use for everyday purpose (free HSBC ATM unlimited - there aren't that many though, but you get 5 free withdrawals from ANY ATM per month, and no account keeping fees) - I have two of these accounts.

In general i've found them good to work with - and I like their savings accounts better than my aussie bank 'ANZ', who seem to think its good practive to go and promote savings accounts at better interest rates to 'new' customers rather than existing. I know someone who works there and she said I had to actually close the account and re-opoen to get the better rate!!!!.......**&^* **&&$%

I'm ranting a bit now - cause they really piss me off sometimes


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## wayneL (15 March 2005)

Most customers of HSBC are happy.

You can get webiress with them also.


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## GreatPig (15 March 2005)

Thanks everyone for the replies.

I've had to send them an email with a few questions, as I'll be trading from a company structure (not as a trustee) and noticed a couple of things in their documentation about companies. A page on their Website says they don't currently have online banking access for companies, and the online trading application form includes a declaration that the company is being used for investment purposes only.

Otherwise it seems like they might be the way to go.

Cheers,
GP


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## GreatPig (10 May 2005)

Well I got HSBC Online Stockbroking set up for my trading account (a company account) and logged on yesterday for the first time during trading hours to check it out.

And I have to say it hasn't started out too good - hopefully just a temporary problem. Yesterday, logging on took ages, even longer than NAB. And today, I get a server unavailable error and can't do anything. I did notice a message about them trying to fix a problem, so like I say, hopefully this is only a temporary glitch.

I also noticed that their market depth screen doesn't seem to give totals at the bottom, like NAB does. I find that useful (NAB will say something like "10 buyers with 1,234,567 shares" at the bottom of the market depth buy side - similar on the sell side).

And one annoying thing: after setting up a direct debit facility between HSBC and the company account in NAB, where I was informed it worked similar to ING Direct with no real limit on the amount that can be transferred, I've now found there's a daily limit of $50K, which they're telling me I can't increase. That's better than the few K's CommSec were telling me, but it really annoys me when I specifically ask about something a number of times and am told what I want to hear then later find out the reality is different. I think the customer support people mostly don't have a clue, so just answer what you want to hear to avoid putting you off taking up the product.

Anyway, not a good start so far. I'll see how it goes once I can get onto their trading site again.

Cheers,
GP

_[Edit: Okay, I can get in again now. That at least was a temporary problem]._


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## markrmau (10 May 2005)

Please let us know how you find it - particularly update speed. Also, do they provide HSBC research into companies?


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## It's Snake Pliskin (10 May 2005)

HSBC is ok!

It has a good layout and is quite fast. At times it is impossible to log on because the server is busy, but this is only on busy days or at the busiest times when everbody is trying to buy or sell. At worst you have to call in to trade. Sometimes at about midnight looking at charts is almost impossible, they tend to take a long time to come up. During the day it is great. Why? I don't know.

The rates are not bad. BUT, there is no stop loss facility. The basic research is ok, but if you are a gold member you can get better research. You need to trade a lot to get that. 

I called about short selling and the bank worker asked me "What's short selling?"

Overall, I am happy with it?


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## bvbfan (11 May 2005)

Don't know if you've looked but Infochoice has a search function where you can compare various brokers with features you want


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## krisbarry (11 May 2005)

Snake Pliskin said:
			
		

> HSBC is ok!
> 
> Sometimes at about midnight looking at charts is almost impossible, they tend to take a long time to come up. During the day it is great. Why? I don't know.




I studied I.T for a while at uni and learnt that most companies switch over to back-up/re-fresh mode during the evening/early morning.  Back-up mode is done at this time due to the least amount of users accessing site. It requires significant time and hardware resources to do this as a tape format is used.  This may explain why it takes along time to come up.  servers switch to a ratio of about 90% backup 10% (approx.) user access.  Hope this helps.


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