Esuperfund SMSF brokers

[Sir Burr]

Is Interactive broker still available?
I'm considering taking up their current promo.

You can use whoever you like now:
https://www.esuperfund.com.au/trading/international-shares/how-it-works

...but "you will need to source and provide this data to ESUPERFUND annually" and that'so big deal. Just send them the tax year report.

I got in earlier when they had a setup link for IB and they can access my report themselves.

 

[wfdTamar]

Not sure if it's been mentioned, but I was just on the phone to Commsec about my Esuperfund setup Commsec account. He said 'BTW, you realise you paying quite high brokers fees'? Turns out it's $29.95 and 0.3% instead of the usual $19.95 and 0.11%! That's a big margin for Esuperfund. He asked if I wanted to change it, but that may break the deal with Esuperfund. However on second thoughts why should it since you can use a different broker if you want to? I won't be using Commsec. I'm going to be using my usual Selfwealth (a flat $9.50 fee).

 

[CanOz]

Interactive brokers is even cheaper again....I believe you get the full monty with a a SMSF as well.

 

[Wysiwyg]

He asked if I wanted to change it, but that may break the deal with Esuperfund. However on second thoughts why should it since you can use a different broker if you want to? I won't be using Commsec. I'm going to be using my usual Selfwealth (a flat $9.50 fee).

I thought you did not have the option of brokers when with ESuper. ESuper switched from E-Trade to Commsec maybe 8 to 10 years ago.

 

[wfdTamar]

Have a look at post #281, just a few up. You can, but it means a manual data transfer.

CanOz - Selfwealth are cheaper than IB for large trades (last time I looked some months ago).

 

[Wysiwyg]

Have a look at post #281, just a few up. You can, but it means a manual data transfer.

Okay thanks for that clarification.

Can your SMSF use Other Broker to invest in Australian Shares?
Yes. You are permitted to establish additional Broker Accounts for your SMSF with any Broker desired to invest in Australian Shares, in addition to our Preferred Broker. However if you establish additional Broker for your SMSF with Non Preferred Broker to invest in Australian Shares, data will not be accessible by ESUPERFUND and you will need to source and provide this data to ESUPERFUND annually.

 

[Quant]

Not sure if it's been mentioned, but I was just on the phone to Commsec about my Esuperfund setup Commsec account. He said 'BTW, you realise you paying quite high brokers fees'? Turns out it's $29.95 and 0.3% instead of the usual $19.95 and 0.11%! That's a big margin for Esuperfund. He asked if I wanted to change it, but that may break the deal with Esuperfund. However on second thoughts why should it since you can use a different broker if you want to? I won't be using Commsec. I'm going to be using my usual Selfwealth (a flat $9.50 fee).

https://www.esuperfund.com.au/trading/australian-shares/commsec/commsec-cba



https://www.commsec.com.au/support/rates-and-fees.html

 

[Sir Burr]

....and with IB it's a matter of logon, go to reports, print out the tax year report and send the pdf to eSuperfund. Easy if your keen on using IB.

 

[padman]

Was about to open an esuperfund account and noted that broker options have been severely cut back. Commsec for AU shares and Saxo for international shares. When I checked yesterday, they still allowed a choice of broker (just had to submit reports manually). I wanted to use IB, so might have to find an alternative. Wonder whether this affects existing clients using other brokers? If so, it would be such a pita.

 

[Sir Burr]

Wonder whether this affects existing clients using other brokers? If so, it would be such a pita.

No hasn't affected existing, I still use eBroker and IB and do not have to send trade details.

 

[padman]

No hasn't affected existing, I still use eBroker and IB and do not have to send trade details.

That's good. Now I"m not sure what to do... Saxo's commissions are $9.90 minimum vs $1 at IB.

 

[Sir Burr]

Now I"m not sure what to do... Saxo's commissions are $9.90 minimum vs $1 at IB.

I've used both, I'll make it easy
Go with IB.

 

[padman]

I've used both, I'll make it easy
Go with IB.

I want to, but they don't allow it anymore.
https://www.esuperfund.com.au/trading/international-shares/how-it-works
"The Permitted Broker to invest in US International Shares is Saxo Capital Markets. ESUPERFUND Clients are not permitted to invest in International Shares with Brokers other than our Permitted Broker."

 

[Sir Burr]

ESUPERFUND Clients are not permitted to invest in International Shares with Brokers other than our Permitted Broker."

Ahh sorry I thought you could still send them a yearly report from other brokers. eSuperfund has changed this numerous times over the past 5 years I've been with them.

 

[padman]

Ahh sorry I thought you could still send them a yearly report from other brokers. eSuperfund has changed this numerous times over the past 5 years I've been with them.

Sorry for all the questions. When they've made similar changes in the past, did it affect you? Ie. would this new change force you to use Saxo now? Just trying to gauge if it's worth going with them if they keep changing the rules. I don't want to be switching brokers each time they have a new rule.

 

[Sir Burr]

When they've made similar changes in the past, did it affect you?

No as mentioned above, in the past they have not forced me out of using IB. No idea why they have swapped and changed over the years but if I was starting out again:

Running a short term system, bypass eSuperfund and go with someone that accepts IB.

If running a long term system where brokerage doesn't matter so much, go with eSuperfund and use Saxo. Personally I hated using the Saxo webtrader or whatever it's called

 

[padman]

Running a short term system, bypass eSuperfund and go with someone that accepts IB.

Any recommendations?
Had a look at green frog, but seems a bit more expensive.

 

[Sir Burr]

I believe you can use any broker with www.superannuationwarehouse.com.au

 

[trading_rookie]

Not sure if anyone is still reading this post...

What is esupers annual admin fee for the second year, if the first year is free?

Can't find this critical piece of info on their website on anywhere on the net for that matter.

 

[peter2]

Come on. It took me 3 seconds.