Where do you buy your shares online?

[Chargin8]

Im looking to buy some shares and was wondering if others could recommend me the company they use.
Im only a small time investor, so I guess costs are important to me.
Im hoping to do the whole thing online, so any features that make a company stand out in that area would be important also.
Surely theres a thread on this already somewhere? I couldnt see it..

 

[Chargin8]

I just looked at Commsec, they need me to have funds in their account, then there was some CHESS thing and a form I had to print and and post to them....

I was thinking I could do it all online and just buy shares via paypal or using my credit card. Not possible??

 

[AlterEgo]

I just looked at Commsec, they need me to have funds in their account, then there was some CHESS thing and a form I had to print and and post to them....

I didn't think you needed funds in their account. You should be able to link it to an existing account of yours (or at least you used to be able to). Need to fill out some form to give them direct debit authorisation.

The CHESS thing is standard. Whoever you trade through, it goes through the CHESS system.

I was thinking I could do it all online and just buy shares via paypal or using my credit card. Not possible??

No, not that I'm aware of.

 

[Chargin8]

Was just looking at Etrade also, they dont need me to post them anything which is a small plus, heh.
$32 per trade though.
Ill wait for any recommendations.

 

[raytm84]

id also like to hear, im in the same boat!

 

[Wysiwyg]

Was just looking at Etrade also, they dont need me to post them anything which is a small plus, heh.
$32 per trade though.
Ill wait for any recommendations.

That is expensive each way isn't it. $66 all up for a basic buy/sell would have to be the more expensive of the Australian brokers.

 

[milothedog]

http://www.asx.com.au/asx/research/findABroker.do

Just tick the boxes...it's a start. It is worth researching CHESS and generally doing a little reading.

Comsec don't need you to have funds in their account, but without any shares in your portfolio you will be limited to the amount you can buy, eg $7500 for non blue chip (please check as it has been a long time since I checked those figures). You will get cheaper brokerage with comsec if you use their CDIA bank account.

Get ready to fill out paperwork, as all have some requirements for properly signed agreements.

You will want to compare brokerage, conditional trading costs, platform options, charting options, ASX fee for live data, etc, etc

 

[adobee]

I would suggest signing up with comsec..
If you are going to buy shares you will probably need to have funds in an account anyway. Once you are signed up you can buy sell without the funds but you need to be able to meet the settlement and have funds clear as you would expect..

If you are thinking of a one or two off buy and dont want the paper work just call your local broker in the white pages

 

[condog]

Im with comsec and cant complain although they are expensive....

$19.95 if you have a cash mgmt account through them which you need $5K balance to open..... or $29.95 for $10K parcels and sliding scale if you dont utilize there CMAcc

Good data, mostly accurate, good support, Ok price but certainly not cheap...

Been with them 15 years

 

[So_Cynical]

Im with comsec and cant complain although they are expensive....

$19.95 if you have a cash mgmt account through them which you need $5K balance to open..... or $29.95 for $10K parcels and sliding scale if you dont utilize there CMAcc

Good data, mostly accurate, good support, Ok price but certainly not cheap...

Commsec are cheap compared to Westpac $24 and Etrade (NAB-ANZ) at $30 something....and with Commsec u get a settlement account with debit card and a highish interest account, both for free.

Commsec rock :band

 

[jono1887]

IB http://www.interactivebrokers.com/ibg/main.php are the cheapest but are US based. Comsec is probably the easiest to start off with and has the simplest layout for beginners.

 

[So_Cynical]

IB http://www.interactivebrokers.com/ibg/main.php are the cheapest but are US based. Comsec is probably the easiest to start off with and has the simplest layout for beginners.

I think its important to point out that with IB u don't actually own the shares (i think) so its not a fair comparison...infact from my limited understanding of IB its prob not fair to call them brokers...they sound more like Bookies.

 

[cutz]

I think its important to point out that with IB u don't actually own the shares (i think) so its not a fair comparison...infact from my limited understanding of IB its prob not fair to call them brokers...they sound more like Bookies.

Load of garbage mate,

IB puts all oz brokers to shame.

 

[So_Cynical]

Load of garbage mate,

IB puts all oz brokers to shame.

Then how come there are limits when participating in rights issues etc? and how come there's no shareholder communications and you have to ask to participate in capital raisings etc?

At least this is what ive been lead to believe.

 

[cutz]

Then how come there are limits when participating in rights issues etc?

Don't care about rights issues, when it comes to trading, aussie retail brokers are a joke.

 

[So_Cynical]

Don't care about rights issues, when it comes to trading aussie retail brokers are a joke.

Some people take a longer term view.

 

[DB008]

MPW - Macqaurie Private Wealth charge $100 buy and $100 sell through their brokers. So, $200 to get in and out of a trade.

Bell direct is also one of the cheaper ones.

It seems like Chargin8 + raytm84 are farily new to the scene and IB might be a little bit technical for them?

 

[SmellyTerror]

If you're brand new, I think Bell Direct is the best. Cheaper than Commsec, free conditionals, nice data display and they're generally easy-to-use.

The big downside is that, unless you pay subscription, the data is delayed 20 minutes. It's easy to get around, though (when I was using it, I just had my Commsec account open if I wanted to read the DOM), and for a lot of traders doesn't matter anyway.

You need to put money into your account, but (if I remember correctly) you can just transfer it in via BPay.

(And I agree that IB is heaps better than almost anything, but not really the sort of thing a new person wants to mess with).

 

[DB008]

Maybe IB should come out with a "lite" package for newbies? Wouldn't hurt them. Just for shares, ETO's and ETF's or something like that?

 

[johenmo]

If you're brand new, I think Bell Direct is the best. Cheaper than Commsec, free conditionals, nice data display and they're generally easy-to-use.

The big downside is that, unless you pay subscription, the data is delayed 20 minutes. It's easy to get around, though (when I was using it, I just had my Commsec account open if I wanted to read the DOM), and for a lot of traders doesn't matter anyway.

You need to put money into your account, but (if I remember correctly) you can just transfer it in via BPay.

(And I agree that IB is heaps better than almost anything, but not really the sort of thing a new person wants to mess with).

not really the sort of thing a new person wants to mess with - sums it up well.

Have CS and just opened IB. IB platform isn't simple like CS but for a small account IB is the way to go due to costs $12 total vs $40 total = a couple of % on small account. And this one account is small. I spent months looking & reading about IB but that didn't do the same as getting an account. They have a simulated account and THAT's where you learn.

The application is a pain but for simple trading (buy limit order, sell market, simple stops) IB is good. And conditions don't cost more. Try Oz brokers and start using bracket orders & trailing stops and the fess just rocket up.

It's a rip-off when you consider it's automated. Divs etc - IB is considered a US entity (tho they trade thru Timber Hill Aust) & not every company makes capital raisings available to overseas companies. But I understand you write/apply.

Read the threads on here to get an idea first.