Direct or ASB ?.....or ???

[croesus]

I am with Direct..but I find their system clunky...ie load a buy or sell on the net... it gets manually checked... which can take up to 2 minutes if they are busy... no good for quick trades in Aussie mining stocks.

Have not tried ASB... any advice... would be appreciated. Nor have I investigated if there are any Aussie brokers that run a instant internet service that works for Kiwis. ???

Who uses what... and what do you think.. could be a interesting little poll ..

And a Merry Christmas for all the Share Trader Clan...hopefully next year will be as interesting as 2009.

Ciao

[bull....]

There is not much demand for trading stocks in NZ one could assume hence the relative inferior products offered by the online brokers in NZ compared to oversea's online brokers.

[Baddarcy]

I use ASB and they seem to go through quickly now most of the time. They removed the manual checking process a few months back and i have noticed a speed increase. I mostly trade NZ stocks so can't be totally sure about ASX trades being faster (Waiting for the dollar to drop before considering selling my JHX)

[flyingfox]

ASB is good enough for me, I trust the big ones.
pretty convinience if you have other accounts at ASB as well, when you not trading can put money in fastsaver

[Contrarian]

Gidday

Etrade.com.au AAA+

[777]

For NZ trades I have had no trouble with DB. Most appear within 2 mins or less. There should not be any need for checking anything for buying but I suppose if selling they need to know you actually have something to sell.

[sharer]

Gidday

Etrade.com.au AAA+

I think this is what DB uses - is that right?
Anyway, i've been active with DB in recent years,
and their service has always been excellent.

[POSSUM THE CAT]

Croecus With Direct how do you hold your shares. Mine go through very quickly because I am Broker sponsered

[Phaedrus]

I use DB here, Commsec in Aus and TD Ameritrade in the USA.
I'm quite happy with the performance of each.

[croesus]

Cheers Guys.
Possum.. if broker sponsored means registered for Chess .. yes I am.
Will have a look at Commsec and ASB.

For normal buying and holding etc I find Direct Broking fine, very pleasant staff to deal with I may add also, but have been doing a bit of trading with low rent Aussie miners... the buy sells... change so quick.. placing a order needs to be instant...

anyway thanks for the feedback and any other thoughts you may have.

Croesus

[tsb]

USE ASB for nz and oz trades - I must look at an Oz provider.
ASB people great but I find the site poor and its maintainace bad - always a problem when time is short.

Wouldnt it be nice if Sam Morgan or someone - opened a true blue Kiwi site. But perhaps Access has stopped people - they had a corker web site

[manxman]

USE ASB for nz and oz trades - I must look at an Oz provider.
ASB people great but I find the site poor and its maintainace bad - always a problem when time is short.

Wouldnt it be nice if Sam Morgan or someone - opened a true blue Kiwi site. But perhaps Access has stopped people - they had a corker web site

Totally agree. I used Access for information for many months after they folded until the receivers shut it down. The web site was fast over a slow connection but the banking statements were just scary. I switched to ASB and just did the odd trade through Access to keep the site open to me.
I use ASB for trading and it is subject to interruptions. If you explore the site you can find references to the top five buys for 2008 and a few legacy items.

However the convenience of having a full service bank linked in to the trading account is hard to beat. And as you say, good people.

[friedegg]

i have a question for you guys that trade aus shares...
every time you buy and sell it is converted from nz to aus dollars and visa versa so dont you get stung in each trade with currency commisson?or can you convert your trading totally to aus dollars and not get the currency movements everyday or so?hope this makes sense

[OldRider]

FRIEDEGG:
I use ASB but presume other brokers are the same, they provide a foreign currency account in at least three currencies, there is a commission paid to transfer NZ currency in to start, but after that trades are made from that account with no further commission, and a fairly pitiful interest rate on daily balances is paid monthly.

[bull....]

If you trade aus shares from a foreign currency account and are based in nz and you think ird may classify you as a trader you may well need to keep note of currency rate each day you do a traDE as ird will tax you based on the conversion back to nz dollars each time you trade.

[PhaedrusFollower]

anyone use a UK online broker?