Bell Direct - $15 or 0.1% Brokerage Fee

skyQuake · 13 November 2009

Re: Bell Direct

shortlist said:
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?

Not really. They just put the market order in there. IT DOESNT TRADE BECAUSE THERES NO VOLUME THERE.

Also, Kam you can set the order to sell @ limit if a certain price is reached. You can acutally specify the price you want your order to be done at if your stop is breached. Eg:

Conditional Order Paramaters
WDR Last Traded Price is less than or equal to $0.550;

Triggered Order Instruction
Sell 100 WDR @ Limit $0.530

Imagine the complaints if they sold shares for LESS than the stop price. Customers phoning up saying they didn't want to get out at that price etc.

gav · 13 November 2009

Re: Bell Direct

skyQuake said:
Imagine the complaints if they sold shares for LESS than the stop price. Customers phoning up saying they didn't want to get out at that price etc.

Imagine the complaints if the share price continued to fall and fall, all the way to zero! Sorry, your Stop Loss was at $3.50 and couldn't be filled, so we weren't going to execute an order for less than that. Totally defies the reason for having a Stop Loss in the first place!

skyQuake · 14 November 2009

Re: Bell Direct

gav said:
Imagine the complaints if the share price continued to fall and fall, all the way to zero! Sorry, your Stop Loss was at $3.50 and couldn't be filled, so we weren't going to execute an order for less than that. Totally defies the reason for having a Stop Loss in the first place!

Well then that's the customer's fault. How can Bell be held accountable for volume that isn't there. I agree that its somewhat annoying not having a stop market; But fiddling with the limit prices is just as good and prob even better.
Theres lots of terms and conditions at the bottom that u have to agree to before using their stops system so I guess they're covered.

kam75 · 14 November 2009

Re: Bell Direct

skyQuake said:
Well then that's the customer's fault. How can Bell be held accountable for volume that isn't there. I agree that its somewhat annoying not having a stop market; But fiddling with the limit prices is just as good and prob even better.
Theres lots of terms and conditions at the bottom that u have to agree to before using their stops system so I guess they're covered.

A stoploss thats executed at limit is about as useful as t1ts on a bull.

The whole point of having a stoploss is to get you out of a trade. If your stop is triggered at 1.90, you want to be out of the trade. Period. If you can't get out at 1.90, your broker should get you out at 1.89. If not at 1.89, then 1.88 or 1.87. Why? Because if a stock goes against you it may never trade at the triggered stop price again.

Bell can't do this and I certainly will advice anyone to stay away from this broker because you will lose money because of this condition alone.

skyQuake · 14 November 2009

Re: Bell Direct

kam75 said:
A stoploss thats executed at limit is about as useful as t1ts on a bull.

The whole point of having a stoploss is to get you out of a trade. If your stop is triggered at 1.90, you want to be out of the trade. Period. If you can't get out at 1.90, your broker should get you out at 1.89. If not at 1.89, then 1.88 or 1.87. Why? Because if a stock goes against you it may never trade at the triggered stop price again.

Bell can't do this and I certainly will advice anyone to stay away from this broker because you will lose money because of this condition alone.

Then set the stop limit lower. Eg Stop at 1.90, limit 1.80 Same thing. Or if you're really desperate, limit 0. Thats a market order then.
Also helps to look at the liquidity of the stock too. And guestimate if liquidity will be an issue.

kam75 · 15 November 2009

Re: Bell Direct

skyQuake said:
Then set the stop limit lower. Eg Stop at 1.90, limit 1.80 Same thing. Or if you're really desperate, limit 0. Thats a market order then.
Also helps to look at the liquidity of the stock too. And guestimate if liquidity will be an issue.

I questioned Bell last week and was told that they don't do this skyQuake.

skyQuake · 15 November 2009

Re: Bell Direct

kam75 said:
I questioned Bell last week and was told that they don't do this skyQuake.

Looks doable; the CSRs usually get confused when you talk about limit orders and stop prices though...

bzalloua · 15 September 2010

I am the latest victim of this sub standard brokerage service. For example. PUt a buy for KAR today and it didnt even get triggered even though it went up 50 cents. My BKN went through for more than 10 cents above the trigger price. And now I am worried about my stop loss conditional orders because I they are dont really "stop losses". I would have to create about 20 conditional sell orders at 1 cent apart to feel a bit safer...

what a joke... another example of how the retail investor gets screwed around...

skyQuake · 15 September 2010

bzalloua said:
I am the latest victim of this sub standard brokerage service. For example. PUt a buy for KAR today and it didnt even get triggered even though it went up 50 cents. My BKN went through for more than 10 cents above the trigger price. And now I am worried about my stop loss conditional orders because I they are dont really "stop losses". I would have to create about 20 conditional sell orders at 1 cent apart to feel a bit safer...

what a joke... another example of how the retail investor gets screwed around...

Well what price did you set your buy at for KAR?

What happened to ur bkn?

RogueTrader273 · 20 October 2010

Does anyone know how belldirect compares to Etrade or Comsec when it comes to capital raisings please?

skyQuake · 20 October 2010

RogueTrader273 said:
Does anyone know how belldirect compares to Etrade or Comsec when it comes to capital raisings please?

Because its CHESS sponsored, you get the forms in the mail, same as all the others.

RogueTrader273 · 20 October 2010

skyQuake said:
Because its CHESS sponsored, you get the forms in the mail, same as all the others.

One thing I'm concerned about is how soon do you receive your shares in SPP's and entitlements? With Etrade I usually receive my shares the day before Comsec, which can be an advantage sometimes obviously, so Comsec is inferior in this regard.

breaker · 20 October 2010

If you ask E-Trade will come down to 19.95

RogueTrader273 · 20 October 2010

breaker said:
If you ask E-Trade will come down to 19.95

They've done this for you?

DB008 · 20 October 2010

I questioned Bell on their, "Cheapest in Australia" line they pull, because they aren't. IB are the cheapest.

Buy and Sell shares, that's all some traders are interested in.

IB charge $6 per side
Bell charge $10 per side.

Clear as mud???????

RogueTrader273 · 20 October 2010

DB008 said:
I questioned Bell on their, "Cheapest in Australia" line they pull, because they aren't. IB are the cheapest.

Buy and Sell shares, that's all some traders are interested in.

IB charge $6 per side
Bell charge $10 per side.

Clear as mud???????

Since when do Bell charge $10?

tminus · 20 October 2010

Re: Bell Direct

kam75 said:
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.

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'.
regards

This was posted an year ago, has the situation improved?

tahpot · 20 October 2010

DB008 said:
IB charge $6 per side
Bell charge $10 per side.

I think you're confused. Bell charge $15, IB don't offer "shares" (ie: in your name) their product is CFDs, hence the cheap price (you get counterparty risk for free ).

The cheapest share trading is through CMC at 9.90 minimum.

breaker · 20 October 2010

RogueTrader273 said:
They've done this for you?

Yes

skc · 20 October 2010

tahpot said:
I think you're confused. Bell charge $15, IB don't offer "shares" (ie: in your name) their product is CFDs, hence the cheap price (you get counterparty risk for free ).

The cheapest share trading is through CMC at 9.90 minimum.

What planet are you on? With IB you are not trading CFDs!!!

Bell Direct - $15 or 0.1% Brokerage Fee

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