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Bell Direct - $15 or 0.1% Brokerage Fee

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Hi, I have been thinking about using Bell Direct for some time now, in addition or eventually, instead of my current broker (netWealth), mainly as a cost saving on brokerage.

However, on reading through this thread and looking over the Bell Direct website, it appears that they don't offer the T+3 days $25,000 credit processing for the top 200 stocks.

This is a bit of a drawback for me as I sometimes like to trade prominent stocks on a 1 to 3 business days turnaround.

I guess the offer of the 6.65% interest on their cash deposit account is intended to compensate somewhat for the lack of the T+3 credit processing, but frankly I wouldn't be willing to risk putting $25,000 into their account particularly with the disclaimers they have made about the security of the account.
 
Hi. I have a westpac broking account with a few shares in it and would like to open up a 2nd Bell account. Is that possible without having to transfer my old shares over to the Bell account?
Question about the T+3, to clarify. Does that mean I need to deposit enough money already in the account for my transaction?

Cheers.
 
You can have multiple brokers for your different share holdings. You just get allocated an additional HIN# from the ASX Chess system.
 
You don't actually have to pay $10 for live data if u have another broker like etrade or commsec, just look at etrade's live quotes then take advantage of Bell Direct's cheap brokerage fee when buy or sell
 
Hi, Have you checked out Interactive Brokers. Operates from USA on all markets Fees are as low as $1. in & $1. out on some platforms. Trading on ASX is $5.00 in or .08% whichever is the greater. Easy to application forms done by fax or email. Recommended to us at a Nick Radge seminar. I was looking at most Aussie CDF Brokers but their fees are way in excess of Interactive Brokers,

Check them out via Internet.

Cheers,
Bluey
 
Still no word out on timing for the iPhone app. Anyone else waiting for it?
It'll be "Soon"
 
alphaman said:
Anyone transferred his CHESS holdings from Comsec to Belldirect?
Click to expand...

I transferred my CHESS holdings from Comsec earlier this year with no worries. They gave me a call to confirm some details about the transfer and were very helpful.

I do have a bit of cash sitting in my Bell account though. Anyone know if this has the same level of protection if the company goes bust like cash deposited with banks?

Edit: Nevermind I read back a page and it looks like it isn't covered. Hmm might move it back to anz.
 
Thanks Jack. Did Comsec or Bell charge a fee?

The Bell cash account PDS says it's some sort of debenture. But if you look at the Electronic Funds Transfer details, the BSB is actually an ANZ branch.
 
Neither Comsec or Bell charged me a fee for transferring them across.

My Comsec account also stayed open which is good and the only difference is on the Position Summary page it doesn't have a HIN number. But I can still use it for live quotes and research which is handy.
 
Bell Direct

Well I'm still looking for a good local broker after being blacklisted by Etrade. Thought Bell Direct sounded good until I questioned them about their conditional orders. Here's what I've just been told:

1. Bell offer No Buy Stop Limit Orders. That means that if you wanna buy a stock when it triggers at say 2.01, that's the price your order will be sitting at in the market. They do not accept a price range like buy @ 2.01 with a limit of 2.03. What does that mean? Well if there's not enough sellers, you'll get stuck with a partial fill, or won't get filled at all. Damn!


2. Bell have no market orders for triggered stoploss. This is just fantastic! If your stoploss is triggered, say at 1.90, Bell Direct route the order to the market 'At Limit'. Wow! What that means is that if your stop is triggered and there aren't enough buyers at 1.90, forget about getting out at 1.89 to cut your losses. Bell will leave your order to sell at 1.90. If the market drops to 1.70 by the end of the day, it's no skin off their nose. Your order is still there at 1.90. But don't worry psst...(it's not a loss until you take it). Good Lord.

No thank you, sir. Not for me.

regards
 
Re: Bell Direct

cutz said:
Hi kam,

What happened over at ETrade to get you in their bad books ?
Click to expand...

It doesn't matter Cutz. Just remember that the brokers are always right, even if they screw up.
 
Re: Bell Direct

kam75 said:
It doesn't matter Cutz. Just remember that the brokers are always right, even if they screw up.
Click to expand...

And you also have the privilege of paying them handsomely every time you execute a trade.
 
Re: Bell Direct

kam75 said:
It doesn't matter Cutz. Just remember that the brokers are always right, even if they screw up.
Click to expand...


Sorry kam,

Didn't mean to sound nosey, i was just curious how you managed to get blacklisted, seeing you mentioned it thought you wouldn't mind sharing.
 
Re: Bell Direct

cutz said:
Sorry kam,

Didn't mean to sound nosey, i was just curious how you managed to get blacklisted, seeing you mentioned it thought you wouldn't mind sharing.
Click to expand...

I'm curious too, do tell.

What's the difference with not getting CHESS sponsored, like at IB?
 
If Bell Direct goes bust i realise that the deposits in the cash account arent garuanteed but what happens to the shares bought through belldirect?
 
Re: Bell Direct


It's some skin off thei rnose because they'd have got the fee for selling them at 1.90 or 1.89 or 1.88, whereas if they're sat in there at 1.70 they don't get a fee for selling them. Oui or non?
 
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