Is there a cheaper Oz online broker out there that will pick up my cash from any independent bank account, ie one of my choosing where I can get a decent interest rate? It seems that all the brokers with low fees are tied to accounts paying a low interest rate.
Just signed up on NABTrade as well, still need to finalize the identity thingy to verify my account but relatively painless process otherwise.
The major diff between the two (apart from brokerage) as I see it is that Commsec pays almost no interest on the CCA but gives you three days to have funds in the account after a purchase, whereas NAB pays much better interest but you need to have funds in the settling account before placing an order.
Besides Commsec what other brokers give you 3 days to have funds in your account after a purchase? Obviously this is favourable because you don't want funds sitting in their account earning 0.01% while waiting weeks for an order to fill.
NAB requires ALL funds before you can even place an order.
It could be a lot longer than 3 days.NAB offers an account paying 4.25% p.a. while you have money on call with them, contrasted with the 3.25% of CommSec I don't mind having the money in an associated account and losing out on 3 days of interest for an extra 100 basis points per annum.
Just Imo.
Is it me or has commsec stopped offsetting transactions? Buying something then selling it the next day does not appear to offset anymore...
E.g buying 7k then selling 7.5k next day is not giving me 500, but debiting 7k on the T3day.
And then you will be credited 7.5k on the T3day after you sold?
Just on a practical note- I received another email from them today and they said the next step is to activate the new debit mastercard and the old one won't work from 26th Jan. I haven't even received the new one yet and don't want to be without cash in 2 weeks. Has anyone else received their's in the mail yet?
btw I am thinking of ditching them soon too.
I have an account was trading a few years ago with commsec from memory Brokerage was costing me around $19
I stopped trading for a number of reasons one being Commsec increased brokerage to the $29 mark per trade
Recently (like a few days ago) I attempted to trade
Punched the buy figures into the appropriate boxes on the website only to read the brokerage saw calculated at $61.90
After Many emails including screen prints of the buy page I asked for a breakdown of costs as the $61.90 doesn't appear anywhere in the fee schedule
It is still $19.95. Do you have a Comsec trade account or do you use your own cash account from elsewhere?
Read above, do you have a linked Comsec cash account? Or can you tell us the parcel size? If the parcel is over 25K then you pay a percentage which is higher.
Look at the FSG, it is in section 10 page 13, that may help you. Here is the link: http://images.comsec.com.au/pdf/FSG/FSG.pdf
Section 10 Page 13??????
Cannot see the figure $61.90 in the document anywhere
Just Punched it
TLS 1200 Shares At Market
Order Value $5,376
Brockerage $61.90
Total Cost 5,437.90
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