Is Netwealth good? Questions on IPO

[Herms]

Hiya guys,

Another question, recently I opened up a trading account with etrade but found out that they charge $ 33 for every trade, which I found a bit too expensive. Meanwhile, I've been shopping around I found netwealth

https://www.sharetrading.netwealth.com.au/do/helpMenu?page=netwealthServiceSelection

They seem not bad and they only charge only $17.95 for trade up to $5000 and
$23.50 for trade up to $10000

I reckon they might be good for a small trader for me to start with.

Also how do I access IPO, is certain IPO only open to certain broker ?

Cheers,

Herms

 

[spartn]

Re: Is netwealth good ? Questions on IPO

Personally I don't really care how much stock brokers cost, I tend to go for the most reliable, even though most people would disagree with me but I reckon Comsec is the best they charge $30.00 per trade up to $10,000.

And they may offer you at a cheaper price, but when you sell and buy shares it my take longer for the trade to go through, more cheaper because less brokers working for the company.

And remember? just like bank interest on an investment property, every cent of brokerage fee's you pay within a financial year, is deductible from your assessable income, so dont worry who is the cheapest or the most expensive, go for the most reliable.

Spartn

:viking:

 

[spartn]

Re: Is netwealth good ? Questions on IPO

For the IPO question, i don't really know the answer to that, because I dont buy into IPO's I find it really hard to find information sometimes about companies that go public.

However if you go to the ASX website they will have information on up coming floats, go there and check the company and if you are interested in investing in one (IPO) ring the company for an application for, whether you get the shares, it's really up to how many you applied for.

Spartn

:viking:

 

[Herms]

Re: Is netwealth good ? Questions on IPO

Thanks spartan,

I'm still juggling between sticking to my current e trade account or go for a new one cos they are considerably cheaper,

There is no limit to how many broker that we can link our account to isn't it ?

Cheers,

Herms

 

[spartn]

No there is no limit to the amount of brokers you can have, in fact it is actally better to have more, because the brokerage house underwrite floating companys, which is if they don't make the necessary amount of shares to allow the IPO to go forward the Underwriter will pay for the rest of the shares the company has on offer, which the public didn't buy into.

And when an under-writing company such as Comsec was with Platnium assets, comsec offered there members oppotunities to buy larger amount of shares in Platnium which is not directly available to people who are not members, so the more accounts you have with other company's the better, Its just a hassle to have more than one

Spartn

:viking:

 

[AussiePaul72]

Hiya guys,

Another question, recently I opened up a trading account with etrade but found out that they charge $ 33 for every trade, which I found a bit too expensive. Meanwhile, I've been shopping around I found netwealth

https://www.sharetrading.netwealth.com.au/do/helpMenu?page=netwealthServiceSelection

They seem not bad and they only charge only $17.95 for trade up to $5000 and
$23.50 for trade up to $10000

I reckon they might be good for a small trader for me to start with.

Also how do I access IPO, is certain IPO only open to certain broker ?

Cheers,

Herms

Hi Herms ..... i'm considering changing to Netwealth at present ....strongly considering actually.
I've been paying $38.50 with my current broker and am looking for a good online broker at reasonable rates and Netwealth definitely has that covered. After exploring a bit on their website tonight, it seems to offer everything that i am looking for.
Herms (or anyone else with Netwealth), how have you found it ......positives / negatives??? Are you happy with Netwealth? Would appreciate any feedback from users ........

 

[prawn_86]

I currently use Netwealth, but would have to say i strongly recommend against it.

Up and till a month ago i was their biggest fan, but then without warning they changed their watchlist system and you can only access live prices and depth charts on your watchlist if you have a managed fund with them also.

The fact they implemented these changes without any consultation or even an email warning was very unprofessional imo.

There is only one page on their site now which you can access live prices and that is one stock at a time, so you have to type in each code each time you want to see it.

Feel free to ask any other q's

 

[hardcoremike]

hey mate
I'm in the midle of transferring from westpac broking to netwealth cos since im such a small trader, the 17.99 brokerage fee will beneft me

A problem came up as my westpac broking account included my middle name, whilst when i signed up for netwealth i left it out so it's taken ages to transfer my holdings over.

Its been almost 3-4 week and my holdings haven't been transferred yet and to be honest, atm Im not too fussed with switching as westpac is pretty reliable.

 

[greenfs]

My portfolio is in large managed through the Netwealth system, which I find frustrating as the prices quoted are often 4-5 hours stale. The managing broker has taken this up with them as an issue, but they will not look to upgrade to a live system based on the cost of the upgrade.

I also find Netwealth frustrating in that it seems to me that I always get a bad price whenever I place a buy or sell order through it at Market prices

Therefore, to overcome the problem I also maintain my portfolio via a watch list at my Commsec account, which of course is live. It is just lucky for me that I have been using Comsec for a smaller personal trading portfolio.

 

[Mumbank]

I have used Netwealth for about 4 years now and have always found their service to be terrific. I don't know about the sudden change to non live watchlists as I have been away for last week and not paying attention. I will be very disappointed if that is the case as all my stocks are managed through them. I have always found that when I buy and/or sell it goes through smoothly and I have been able to see my order in place in real time immediately. That is listing it all via net I don;t know about their phone service because I don't use it.

For me as a relatively small trader, I have found the service to be great and as I do my own research before I buy or sell I don't have need for a broker, in fact, last time I used one he nearly sent me broke!!!

 

[Mumbank]

Just a bit of further information from me. I am still getting live prices, last 10 trades, price depth etc on my Netwealth. The only area that I have 20 minute delay is on holdings and portfolio.

I still think this is a great service

 

[akumaslair]

I only use netwealth for buying/selling of shares.

I use a dormant commsec account to track prices, movements and watchlists...

this works for me....

and yes, I don;t like the l;ayout of netwealth...

 

[kivvygosh]

I find the interface is not as nice as e-trade, but with all of e-trade's technical problems I am happy to trade bells-and-whistles for reliability. Never had a problem on the netwealth website.

The holdings page shows delayed prices, which is strange given that they do have live data, but that's just how it is. There is absolutely access to live data and depth, but the page that shows this info will only show one stock at a time. If you are looking at the depth for a stock and want to see a chart, you need to click charts to go to the chart page and then enter the stock code and press the button. It's a little tedious.

The charts are pretty useless. If you are into charting then you need a charting program.

Overall I think Netwealth is excellent value for money, and if you are trading a lot and especially smaller parcels then you will really appreciate the great brokerage fee.

Oh and don't be fooled, the below is patently incorrect for individual non-professional investors. Consult the ATO or your tax advisor.

And remember? just like bank interest on an investment property, every cent of brokerage fee's you pay within a financial year, is deductible from your assessable income, so dont worry who is the cheapest or the most expensive, go for the most reliable.