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Originally Posted by Onion
The FCNZ T&Cs mention that FCNZ will take a cut (as yet unspecified) of the interest paid on the [transferred] Cash Management Account:
I have looked at the ANZ Securities T&Cs and cannot find an equivalent fee.
Does anyone else have a concern with that arrangement?
Yes. Yes I do. I think it stinks.
At the moment, i have no money in any ANZaccount - I place buy orders and then pop the money into the ANZ account before settlement date.
I see that vanishing, and having no wish to have to maintain a balance in a brokerage account I will likely quit the NZX.
So, anybody know of an offshore broker who will trade New Zealand?
Last edited by GTM 3442; 26-05-2018 at 03:07 AM.
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Originally Posted by GTM 3442
At the moment, i have no money in any ANZaccount - I place buy orders and then pop the money into the ANZ account before settlement date.
Without the cash in your OMCA do you pay the non-discounted fee? I.e NZ$29.90 plus 0.40%
The FAQ Do I get a discounted brokerage rate? says:
Note: the discounted rate only applies if the required funds are available in the NZD or AUD OMCA account at the time you place your order.
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Originally Posted by Onion
Yep. No discounts for me.
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