Online trading

[dirkpitt]

this question has probaly been asked a 100 times before but its late and I am new to site so couldnt find anything in search.

what online brokers do you traders use? and why?

reason I ask is that I havent traded in over 2 years want to get back into it am currently with commsec but there is so much info out there on there websites its a bit overwhelming, i live by the KISS principle keep it simple stupid

any info much appreciated

goodluck out there

 

[Garpal Gumnut]

this question has probaly been asked a 100 times before but its late and I am new to site so couldnt find anything in search.

what online brokers do you traders use? and why?

reason I ask is that I havent traded in over 2 years want to get back into it am currently with commsec but there is so much info out there on there websites its a bit overwhelming, i live by the KISS principle keep it simple stupid

any info much appreciated

goodluck out there

comsec.com.au are good

I also use directshares.com.au, they are a branch of etrade.

It depends if you want to trade stocks, warrants , options or bonds.

Do a search on ASF (this forum) under the above headings.

It has heaps of advice

gg

 

[Julia]

Given Comsec's apparent lack of disclosure on Brisconnections (see that thread) might be better to use one of the other brokers who appear to take their responsibilities a bit more seriously.

 

[Garpal Gumnut]

Given Comsec's apparent lack of disclosure on Brisconnections (see that thread) might be better to use one of the other brokers who appear to take their responsibilities a bit more seriously.

A fair enough comment if you have never ever read the AFR, or SMH , or The AGE, or The Australian on the dangers of investing in Brisconnect.

So mate, I'll change my advice, if you live in an igloo or in a humpy in Lighning Ridge, or if your kids attend a Steiner school, then definitely avoid comsec.

Otherwise like millions of the rest of us give it a go.

gg

 

[Julia]

A fair enough comment if you have never ever read the AFR, or SMH , or The AGE, or The Australian on the dangers of investing in Brisconnect.

gg

Clearly many people did not in fact read any of these publications, given the apparent financial ruin being faced by clients who depended on their online broker to advise them there was a further $2 to pay before they actually placed their order.

 

[MRC & Co]

Depends how much you trade.

But if you are going to trade more than a few times a month (not hard to do), Interactive Brokers absolutely DESTROYS the competition!

 

[weird]

Interactive Brokers is probably the best bang for buck in terms of order types and the amount for brokerage, if you are planning to do a lot of trading.

There is a requirement of initial funds to open an account though , which I think may be a hurdle for some young gunners, but also gives a reality check for someone wanting to start trading ... that is having sufficient initial capital to begin with to employ some form of position sizing, and also not having brokerage taking too large of a chunk from any trade.

I also use Commsec, and think it is also pretty good, which I also use for my SMSF, but I don't trade that frequently with this account, so brokerage is not a major issue.

 

[Garpal Gumnut]

Clearly many people did not in fact read any of these publications, given the apparent financial ruin being faced by clients who depended on their online broker to advise them there was a further $2 to pay before they actually placed their order.

Online brokers are not advisory.

I have an advisory broker for crucial trades. He costs, but he's worth it.

gg

 

[resourceboom]

I use and like netwealth, quick n easy and cheap.
not many frills tho!