Recommended Broker

[Family_Guy]

I use BellDirect Online and it's fine. You don't have to have a minimum anount in your trading account, like most others.
I'm only buying about $10,000 at a time with a long-term view.

With only $5,000 cheap brokerage is important, otherwise it's too great a % of the amount you spend.

You don't say what other income you have, but if you're not in a higher tax bracket, I'd go for a term deposit atm.

I use BellDirect. Cheap and it works. I believe the guy who started Sanford is behind Bell. This is my first broker, only having just started dabbling in shares.

 

[Snakey]

IB at $6.50 in and out with limited funds like you have low brokerage is a must.

Conditional orders are a dream.
Takes a bit of setting up but when running has an amazing platform.

Hi tech
do you have a link to their site?

 

[Joe Blow]

Hi tech
do you have a link to their site?

Snakey, Interactive Brokers have ads all over ASF.

Click on one of 'em.

 

[mech81]

Broker recommendation

Hi guys,

I'm quite new to this and have been reading up about stock investing and the sort. I'm kind of wanting to get my feet wet now and would like some advice on about which broker one would recommmend.

I reckon i'll be the type of trader that would probably do 5-6 trades a month and would keep long term investments - say holding a stock for 3-4 months at a time if not longer. I understand that there are brokers that charge you a daily "keeping" for keeping a stock. My question is are there any brokers that dont charge you for keeping a stock long term but just charge you for the transaction only? If yes, who would you recommend? Thanks guys

 

[jono1887]

Re: Broker recommendation

Hi guys,

I'm quite new to this and have been reading up about stock investing and the sort. I'm kind of wanting to get my feet wet now and would like some advice on about which broker one would recommmend.

I reckon i'll be the type of trader that would probably do 5-6 trades a month and would keep long term investments - say holding a stock for 3-4 months at a time if not longer. I understand that there are brokers that charge you a daily "keeping" for keeping a stock. My question is are there any brokers that dont charge you for keeping a stock long term but just charge you for the transaction only? If yes, who would you recommend? Thanks guys

I've never heard of brokers that charge you for keeping a stock. They usually just charge a buying and selling brokerage fee. Perhaps you were referring to CFDs where I think you have to pay interest when you go long.

 

[mech81]

Thanks for that Jono. Anybody with recommendations for a good broker in view of maybe 5 short term to moderate term trading and probably 5-10 long term trades with around 5-7k investment sum?

I came across interactive brokers but i think I would need to convert to USD and then they will convert back to AUD for trades on the ASX? Could someone clarify?

Thanks again guys

 

[skyQuake]

Thanks for that Jono. Anybody with recommendations for a good broker in view of maybe 5 short term to moderate term trading and probably 5-10 long term trades with around 5-7k investment sum?

I came across interactive brokers but i think I would need to convert to USD and then they will convert back to AUD for trades on the ASX? Could someone clarify?

Thanks again guys

Interactive is less userfriendly as it contains so many bloody features. No currency conversion as it uses a custodian model. You buy in AUD, sell in AUD, withdraw money in AUD.