# Better brokerage services in Australia?



## Arturius (26 June 2007)

I've been thinking about this question a lot. Would a no-frills, mostly internet based futures and stocks brokerage go very well in Australia? To be honest, I see a total lack of choice in the current market. Rip off rates for share transactions, and futures contracts aren't a whole lot better.

is there a market for this sort of thing?


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## Knobby22 (26 June 2007)

Arturius said:


> I've been thinking about this question a lot. Would a no-frills, mostly internet based futures and stocks brokerage go very well in Australia? To be honest, I see a total lack of choice in the current market. Rip off rates for share transactions, and futures contracts aren't a whole lot better.
> 
> is there a market for this sort of thing?




Look at CFDs.


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## dovetree (26 June 2007)

There is a great no frills service but they are not AUstralian..... Interactive brokers.  They are hands down the best futures brokerage and soon to add ASX stocks.

If people keep paying ripoff brokerage then Australian firms will keep charging it.


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## Trembling Hand (27 June 2007)

Most futures brokers will give you better rates if you push then, as long as you have the turn over.


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## Arturius (29 June 2007)

No serious trader would ever use CFD's.



dovetree said:


> There is a great no frills service but they are not AUstralian..... Interactive brokers.  They are hands down the best futures brokerage and soon to add ASX stocks.
> 
> If people keep paying ripoff brokerage then Australian firms will keep charging it.




IB aren't Australian, so its irrelovent. I use a US brokerage service right now.


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## professor_frink (29 June 2007)

Arturius said:


> I've been thinking about this question a lot. Would a no-frills, mostly internet based futures and stocks brokerage go very well in Australia? To be honest, I see a total lack of choice in the current market. Rip off rates for share transactions, and futures contracts aren't a whole lot better.
> 
> is there a market for this sort of thing?




I'd have to say probably not. You'd probably find that most traders that weren't happy with whatever was being offered by local broker's have moved to an o/s broker, or are trading a different market to the ASX. How could a local firm offer something good enough to lure those people back?

With IB offering the ASX soon, I can't see myself ever using a local broker again.


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## Wanwo (20 July 2007)

So IB can be used for trading SFE products?

How does it work? Do you have to sit on your computer all thru market hours to activate the trades?

Sorry, newb questions but I'd jump at the chance to try an overseas broker.


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## yonnie (25 July 2007)

Wanwo said:


> So IB can be used for trading SFE products?
> 
> How does it work? Do you have to sit on your computer all thru market hours to activate the trades?
> 
> Sorry, newb questions but I'd jump at the chance to try an overseas broker.





hi wanwo,

IB is now open for all ASX stock and futures.

they have a great platform with more than 30 different order types.
you can activate orders out of trading hours if you want and at the same time place your stop loss, trailing stop or whatever in case your order gets triggered.
its a case of set and forget.

for more info go to "Brokerage/platforms terrible in Oz"


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## Pager (25 July 2007)

A Brokerage firm is just that, why does it have to be Australian ?, if service and rates are good then use them, if Aussie firms cant or wont offer rates you want then use the likes of IB who will.

Cheers

Pager


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