Commsec vs. NAB?

[warakawa]

currently I have savings account with both banks, I wish to start trading, which broker should I choose? It appears to me that commsec have a lower broker fee at $19.95 vs nab's $29.95. Are there any other hidden fees by either brokers that I need know about?

 

[sasch]

In regards to comsec, the $19.95 rate applies to parcels up to $10000. Over this amount you have to pay more. It costs $29.95 for transactions over $10000 up to $25000.

They also charge a $10 fee for every buy and sell when using a margin loan account. I find this a bit rich, and i am getting sick of the little fees that everyone seem to think it is ok to charge these days.

 

[lenny]

NOLT
Casual=30 min delayed depth which is free
Premium=RT depth but $10 a month

+ $9.95 for conditional orders if you use them.

Regards
Lenny

 

[warakawa]

NOLT
Casual=30 min delayed depth which is free
Premium=RT depth but $10 a month

+ $9.95 for conditional orders if you use them.

Regards
Lenny

would help if you stop using abbreviations...

 

[pixel]

Why do you want to choose a broker from the only two banks with whom you happen to have a bank account?
Why don't you research - presumably - all online brokers and select the one that suits you best, having regard to -

• value for money,
• software and data delivery,
• reliability of execution,
• serviced markets and instruments...

You may find that you have to open a CMA *) with another bank. So what! That's a one-off exercise - and merits yet another investigation.
e.g. Westpac will charge $5 less brokerage per trade if you use their CMA; but they pay interest at the RBA +) Cash rate minus 2%, whereas a Macquarie CMA pays interest at exactly the RBA Cash rate, calculated daily.

*) CMA = Cash Management Account
+) RBA = Reserve Bank of Australia

 

[Tanaka]

The current edition of Smart Investor has a detailed review of all the major online brokers in Australia including all the fees etc...

http://www.afrsmartinvestor.com.au/edition.aspx

Hope the link helps you make an informed decision,

Tanaka.

 

[johenmo]

Depending how much money you have, your trade frequency etc look at Interactive Brokers. 0.08% or min $6 each way and no extra for conditional orders. The videos they have help you along the way.

I went from CommSec to IB. Still have some stocks with CommSec.