which nz online broker

[voltage]

Although this has been discussed previously, comments are now likely to be out of date. I wish to use an nz direct broker, are they both similar or does one have an edge. Only interested in NZ share trading.
thanks

[Harvey Specter]

The only options are ASB and ANZ (who took over Direct Broking)????

I use ASB because I bank with them. ANZ appears to have more features and I think is slightly cheaper.

[Glendoonie]

I use ASB Securities because I have an account with Bank Direct and the initial set up was uncomplicated.

[ari]

Would never choose ANZ as my bank, but have never had a problem with their share site.

[Regi]

The only options are ASB and ANZ (who took over Direct Broking)????

I don't think any take-over occurred, they just rebranded it as 'ANZ Securities' to be more associated with the ANZ brand than 'Direct Broking'.

[klid]

I use ASB Securities but I would not recommend them as their staff are in my view, incompetent, even their manger, Jessie Ford, is in my view - incompetent. They may arbitrarily decline to trade your orders.

I've foregone a lot of money due to this and then they throw their rules in my face which basically say that they can do whatever they want with respect to declining orders and they accept no liability as a result of doing so.

Just thought I should mention this, here are the qualifications of their manager: https://nz.linkedin.com/pub/jessie-ford/58/37/969

[bull....]

I use ASB Securities but I would not recommend them as their staff are in my view, incompetent, even their manger, Jessie Ford, is in my view - incompetent. They may arbitrarily decline to trade your orders.

I've foregone a lot of money due to this and then they throw their rules in my face which basically say that they can do whatever they want with respect to declining orders and they accept no liability as a result of doing so.

Just thought I should mention this, here are the qualifications of their manager: https://nz.linkedin.com/pub/jessie-ford/58/37/969

she looks quite tasty

[smpl]

Male chauvinism aside, could someone please give me some insights as to why:
- Placing GTC orders do not exist here? Our brokers enforce that orders expire after a certain length of time.
- Brokers do not allow orders to be placed outside certain pre determined % bounds
- Why international brokers have access to our market?

I suspect it all has something to do with the DMA setup in our market, but I can't figure it out.
https://nzx.com/files/assets/marketparticipant_4.pdf

[777]

Would you explain what GTC orders are please.

[stoploss]

Would you explain what GTC orders are please.

GTC , stands for " Good Till Cancelled "
So if you placed this in any sophisticated market it is good till it is dealt basically . So would not be cancelled ahead of a earnings release , or announcement from the company or when the stock goes XD etc ......

[777]

Thank you stoploss.

I can see that that could work both for you and against you.

At least with Direct(ANZ) you can set your expiry date up to the maximum allowed (a month I think)

[Under Surveillance]

Would never choose ANZ as my bank, but have never had a problem with their share site.
Same for me.

[Under Surveillance]

Would never choose ANZ as my bank, but have never had a problem with their share site.
Same for me.

[Xerof]

I use both. Apart from a minor variation in brokerage, I find they are similar in all respects. The MAJOR difference appears to be that when you place an order on line with ASB, it is immediately in market (2 or 3 second delay at very most), whereas DB can take up to a couple of minutes.

Never had any problems with the staff at either. (I don't seek firm allocations on IPO's etc through these sites - bloody useless, but then you have no personal relationship with your QUERTY)

When I use my human broker for orders, it can take up to 15 minutes if he gets on the phone to someone else lol. Luckily for him, I have never missed an opportunity, or my place in the order depth.

[100101]

Perhaps when Kiwibank come of age they will provide an online service so we are not dependent on the Ozzy banks.

[QOH]

I have dealt with Direct Broking for years and have never had any problems with them.as someone else mentioned it does take a few minutes for your orders to appear online.

[voltage]

thanks for the comments seems to makes no difference, both are similar. Why does NZ only have 2 online brokers. I use to belong to access with BNZ, many years ago, since then I have use full broker but quite expensive esp when i make decisions.

[ratkin]

I like ASB their execution seems fairly fast, and have never had any trouble with them. Only improvement i would like to see is better research reports

[see weed]

Although this has been discussed previously, comments are now likely to be out of date. I wish to use an nz direct broker, are they both similar or does one have an edge. Only interested in NZ share trading.
thanks
Funny, I'm just in the process of looking into opening an ANZ Sec. Account. Been with ASB for many years and have been with ASB Sec. for about 7 years. No problem with ASB, just their brokerage fees. Have just finished emailing ASB to see if they can match ANZ Sec. fees, if not I"m outa here and off to join ANZ Sec. It is a pity NZ banks don't do online share trading, they would make millions.

[voltage]

i thought both rates are the same

[IAK]

ASB, although there website has had some issues recently.

[IAK]

ASB, although there website has had some issues recently.

[see weed]

i thought both rates are the same
ASB brokage=.3% and Min. $30 up to $10,000.....ANZ $29.90 per trade up to $15,000 and .2% after that, eg. $30,000 trade with ASB =$90, ANZ= $60. The ASB told me last week the only way to get .2% is if trade is over $100,000. So a $95,000 trade with ASB=$285. And $95,000 trade with ANZ=$190.

[gv1]

Still both brokerage co's fee are quite high..

[voltage]

thanks, there is a brokerage difference so ANZ is ahead.

[trader_jackson]

Currently with ASB, but also have banking with ANZ so may 'use both' (to access research)

2 questions:
1. What is ANZ research like?
2. Both don't have any monthly/annually fees (even if we don't place any orders/do any trading)?

[noodles]

Currently with ASB, but also have banking with ANZ so may 'use both' (to access research)

2 questions:
1. What is ANZ research like?
2. Both don't have any monthly/annually fees (even if we don't place any orders/do any trading)?
if you want decent research you are going to have to head over to First NZ/Craigs/Forbar (in my preferred order).

[RTM]

I use ANZ and find their prices OK.
What you should have a careful look at is the way their information screens are presented. I find the ANZ screens poor. The portfolio screen does not show you how much you have moved up or down in a day. You can't see the share price change there. So I tried to set up a Watch List to match my portfolio so I could see the ups and downs on each stock. And then found that there is a limitation on how many shares I can add. So I now need to have multiple watch lists, LPT's, Aussie, NZ, to easily get an overview.

This contrasts with Google finance that I find excellent. Of course I can't trade there....so just mirror my complete portfolio there. All this is highly inefficient and of course the various lists I need to maintain are prone to getting out of sync.

I am not sure about ASB.

[trader_jackson]

So ANZ do have research? Are they partnered with anyone in particular (eg ASB are with Morning Star)

[RTM]

I haven't stumbled across any.


So ANZ do have research? Are they partnered with anyone in particular (eg ASB are with Morning Star)

[ratkin]

if you want decent research you are going to have to head over to First NZ/Craigs/Forbar (in my preferred order).

Just checked out First NZ that example report on SUM is very impressive. Might have to sign up just for the research

[Hoop]

Anyone out there can offer a solution to where I can find an up to date or 20 minute delay list of NZX50 or NZ all index companies with recent price buy /sell quotes and volume..
With the NZSE selling its life and soul away to S&P and today is the first day ...ANZ has lost the rights to show these and it sounds like its too expensive to buy the new S&P feeds...A solution mentioned is to add all the NZX50 companies onto your watchlist...there must be a better way!!..

I see on the ASB site the Gainers and Decliners list is still working...this helps somewhat

And the NZ Stock Market bitch and groan that people don't invest enough into NZ companies and the economy... well this latest move in taking away the ability to see how all the companies are performing at a glance definitely won't be helping to gain more investors...

The Secret Society has become more secretive.

[ratkin]

Anyone out there can offer a solution to where I can find an up to date or 20 minute delay list of NZX50 or NZ all index companies with recent price buy /sell quotes and volume..
With the NZSE selling its life and soul away to S&P and today is the first day ...ANZ has lost the rights to show these and it sounds like its too expensive to buy the new S&P feeds...A solution mentioned is to add all the NZX50 companies onto your watchlist...there must be a better way!!..

I see on the ASB site the Gainers and Decliners list is still working...this helps somewhat

And the NZ Stock Market bitch and groan that people don't invest enough into NZ companies and the economy... well this latest move in taking away the ability to see how all the companies are performing at a glance definitely won't be helping to gain more investors...

The Secret Society has become more secretive.

Can create watchlist on asb securities, the number you see is 20 min delayed but the market depth has it live

[Hoop]

Can create watchlist on asb securities, the number you see is 20 min delayed but the market depth has it live
Thxs Ratkin..I'm with ANZ Securities..It seems it's a similar thing to do there too....

[Corleone]

Writing to ANZ as I type. Wow, I have been using Craigs, they just charged me $106 for a $6500 purchase and will charge the same if/when I sold + they take $250 a year to 'manage' my account.

[Prentice]

Hi Hoop
This might help
http://www.sharetrader.co.nz/showthread.php?10350-which-nz-online-broker&p=589523#post589523
I to am now trying to pick stocks in the dark and am pissed off

[Prentice]

Sorry wrong site should be
/www.nzx.com/markets/NZSX/securities

[Hoop]

Can create watchlist on asb securities, the number you see is 20 min delayed but the market depth has it live

I've just opened up my Google spreadsheet again after not using it for a while...All the Google finance hyperlinks still work so I've got 119 listed NZ companies with 20minute delay working..
whew:)

screen dump picture
http://i458.photobucket.com/albums/qq306/Hoop_1/screen%20shot%20NZX.png (http://s458.photobucket.com/user/Hoop_1/media/screen%20shot%20NZX.png.html)

[Baa_Baa]

Can create watchlist on asb securities, the number you see is 20 min delayed but the market depth has it live

Correct, though you can also update the watch lists to show the live data 'right now' by clicking the curvy arrow thing 7573, which also works on all screens with the same arrow icon.

[scamper]

Sorry to be slightly off topic, but after years of using the direct broking -anz web page, am disliking their new look opening that lacks the various dollar amounts and percentage changes of the various markets. -- A very fast way of checking your portfolio against the the top 50, mid-cap etc.

I do my online broking through asb and haven't had any problems, but haven't tried anyone else for comparisons. Cheers all.

[percy]

if you want decent research you are going to have to head over to First NZ/Craigs/Forbar (in my preferred order).

FNZC is the most dependable research.
Craigs and Forbar are very good on some companies/sectors,but miss the boat on others.
Macquaries are very good on NZ companies,and excellent on large cap Australian companies,Unfortunately they do not cover some excellent companies such as Ebos or Scales.

[Earthling]

Isn't there a third online broker, Halifax? I wonder if they provide access to more international markets. Does anybody know what they are like?

[voltage]

thanks for all the comments, seems both are very similar, interesting to hear from investors that use both and if they were now to join which one they would use. NZ offers little choice compared to what is available in australia.

[Hoop]

Sorry wrong site should be
/www.nzx.com/markets/NZSX/securities
Thxs Prentice...Amazing where the NZX website hides things...I trawled their website yesterday morning and missed that one (I've now bookmarked it).. Yesterday I clicked on the boxes below all securities and all I got was a one line index charts so didn't think it was worthwhile to click all securities as I assumed it would be another chart....I wish NZX would admit that their revamped website is a mess and do something about it..there's some good stuff in there but it's just too hard to find.

EDIT: not much point opening it just after 10am it seems its could be a 20min delay...so flying blind

[Baa_Baa]

.. snip ..

EDIT: not much point opening it just after 10am it seems its could be a 20min delay...so flying blind

I don't know what others think but my view is that it is ridiculous that the source of the data, NZX, delays releasing the data to the market. I guess it'll probably be something to do with generating income from their data feeds, but that defeats the opportunity to focus people on NZX as those people might as well, and do, ignore NZX and sign up for a live feed elsewhere.

[stoploss]

I don't know what others think but my view is that it is ridiculous that the source of the data, NZX, delays releasing the data to the market. I guess it'll probably be something to do with generating income from their data feeds, but that defeats the opportunity to focus people on NZX as those people might as well, and do, ignore NZX and sign up for a live feed elsewhere.

Conflict of interest being a listed entity they have to maximise revenue for shareholders by selling data ...:)
Conflict occurs , as with announcements etc everyone should have enough time to disseminate the information and act accordingly , however the NZX wants us the average punter to put up with delayed data ....

[Hoop]

I don't know what others think but my view is that it is ridiculous that the source of the data, NZX, delays releasing the data to the market. I guess it'll probably be something to do with generating income from their data feeds, but that defeats the opportunity to focus people on NZX as those people might as well, and do, ignore NZX and sign up for a live feed elsewhere.

Baa Baa, this data feed problem is something I did not expect from the joint venture of NZX Ltd and S&P Indices which was announced to the public over 6 months ago (https://nzx.com/companies/NZX/announcements/261215). I assumed a seamless change after 21 June so a bit of a shock on 1 September when the company list quotes/price disappeared. I rang ANZ Securities and it seems the NZX data is now controlled by the S&P Indices... I asked if they received other pissed off customers that morning... the answer was yes...

[stoploss]

Baa Baa, this data feed problem is something I did not expect from the joint venture of NZX Ltd and S&P Indices which was announced to the public over 6 months ago (https://nzx.com/companies/NZX/announcements/261215). I assumed a seamless change after 21 June so a bit of a shock on 1 September when the company list quotes/price disappeared. I rang ANZ Securities and it seems the NZX data is now controlled by the S&P Indices... I asked if they received other pissed off customers that morning... the answer was yes...

Probably need Shareholders association or Roger to take up the case with NZX . Point out the lack of data/ transparency actually hurts the market and disadvantages many investors ....

[Prentice]

More info Hoop
Here's another site that might be of help to you nz.finance.yahoo.com/q?s=^NZ50 just click on “components” on the left hand side.
You could put the two lists on a spreadsheet and make changes whenever they add or remove stocks. Lets hope it's accurate.
I also so rang the ANZ and the NZX but no joy although like you they both told me that others had complained as well.

[AppleCrumble]

Not sure if I need a new thread...

am looking for a good broker, when I say good I mean cheap and a good experience on the platform...

reading here http://www.stuff.co.nz/business/money/9313216/Choosing-the-right-sharebroker
basically says there are 2 types - 1 direct trading with no advice - 2 direct trading like with advice
with 1 being cheaper than the 2 e.g. 0.3% v 1+% for buying stock

here gives a full list of brokers https://www.nzx.com/investing/find_a_participant
but it seems the only available online one is asb and anz, so it seems like this is my choice as I intend to do most of my dealings online, and I don't plan to be that active more a longterm holder, well that is the plan at this stage.

I have visited both sites and it seems that asb gives me a better overall impression impression, there website seems better and

Can anyone offer some comments goo/bad on their experiences with anz/asb? this can cover cost, user experience on the platform, other?

[777]

Use this ANZ platform.

It is cheaper.

https://www.anzsecurities.co.nz/directtrade/static/ourrates.aspx

rather than

http://www.anzshareandbondtrading.co.nz/static/home.aspx

[trader_jackson]

I know that ASB's basic 'package' give you access to MorningStar research, not sure if ANZ does...

[Onion]

rather than

http://www.anzshareandbondtrading.co...atic/home.aspx (http://www.anzshareandbondtrading.co.nz/static/home.aspx)

It would appear that ANZ Share and Bond Trading is closed to new clients anyway.

[Crackity]

I know that ASB's basic 'package' give you access to MorningStar research, not sure if ANZ does...

And the plain pack extra basic no frills ASB package gives you access to complementary Edison research;)

( this is a joke Edison people - obviously only paying customers for youse fellas - company cheques accepted...)

[huxley]

It would appear that ANZ Share and Bond Trading is closed to new clients anyway.

No so.. anz securities is the rebranded direct broking page. Before this ANZ (and NBNZ) ran bank branded online share trading webpages for their customers which were basically direct broking in either green or blue. So anyone with an ANZ account could if they wish sign up for share and bond (although one would assume ANZ will push new customers to ANZ securities).

[huxley]

No so.. anz securities is the rebranded direct broking page. Before this ANZ (and NBNZ) ran bank branded online share trading webpages for their customers which were basically direct broking in either green or blue. So anyone with an ANZ account could if they wish sign up for share and bond (although one would assume ANZ will push new customers to ANZ securities).

And then he checked the website... Looks like it had been close to new members since November 15. Makes sense - no point running two webpages

[Joshuatree]

I use ASB for trading . Haven't got any others to compare to but have heard the Aussie ones offer many more features; really good charting etc for way less commission. My main beef with ASB is that they don't offer trailing stop losses and i can't be bothered to reset stop losses everyday.Also they have glitches quite regularly,today for example at re 4.40pm when i was checking the NZX depth it showed non sensical pre market pricing that only cleared up with a few minutes before closing time.

[ratkin]

Been with ASB ever since the demise of Access brokerage. Never had any problems with them, and over time have moved many of my other accounts over to them.
Have the foreign currency accounts with them, and trading seems to be reasonably fast. Only gripe i have with them is the morning star research.

I am not that frequent a trader, probably only averaging a couple of trades per month, but for my needs they are more than acceptable

[RTM]

I use ANZ Securities. Seems OK and have not had any errors or issues. I don't like the way some of the information screens are designed....I end up having to maintain a watch list of my portfolio to easily see the daily changes in each individual stock. And then there is a limit to the number of stocks you can have on a watch list...so to reflect my portfolio I now have multiple watch lists....e.g. NZ, Aussie, LPT's. So in this way its a bit clumsy. But it works well enough for buy/sell and I can easily see the info I need.

When I have a query, the staff are always friendly knowledgeable and helpful and take the time to make sure they understand one's question and give the right answer. This has been useful.

As aside....I do find Google Finance great to track my portfolio and so reflect everything there as well. Can't trade there tho. But great to look at on the fly. Keeps my busy.

[RTM]

I use ANZ Securities. Seems OK and have not had any errors or issues. I don't like the way some of the information screens are designed....I end up having to maintain a watch list of my portfolio to easily see the daily changes in each individual stock. And then there is a limit to the number of stocks you can have on a watch list...so to reflect my portfolio I now have multiple watch lists....e.g. NZ, Aussie, LPT's. So in this way its a bit clumsy. But it works well enough for buy/sell and I can easily see the info I need.

When I have a query, the staff are always friendly knowledgeable and helpful and take the time to make sure they understand one's question and give the right answer. This has been useful.

As aside....I do find Google Finance great to track my portfolio and so reflect everything there as well. Can't trade there tho. But great to look at on the fly. Keeps my busy.

[kerryo]

ANZ pay 2.25% on call, don't know about ASB?

[bohemian]

I'm with ASB and have had no problems. I also use their leveraged facilities which works well for me. A bit cheaper than others I think.

[goldfish]

I'm with anz, they are ok, they need stop loss on aussie stocks, they said it would cost to much when I asked. Don't mind paying but they said it won't happen.

Also sometimes it takes a few minutes after placing a order to it going to market and if you day trade like I do it makes its hard. Have lost a bit of money having to chase the price cause brokers are to slow, and missed out getting stock at what I want because by the time it goes limit order the price has gone up very frustrating.
Why they can't automate like I hear asb do? have no idea.
Will change to asb if this is correct?

[AppleCrumble]

Tried to come up with some comparison on cost and came up with the below.

The below costs obviously depend on the $amount being bought, but to put it simply:

Asb is buy/sell 0.3%/1% ==1.3%
Anz is buy/sell 0.2%/1.25% ==1.45%

Another way to look at it is:
Asb is buy/sell $30/$90 ==$120
Anz is buy/sell $29.90/$90 ==$129.90

So my thinking is asb is slightly cheaper.

Based on the comments, seems there is good and bad with each. Might just go with asb as have account with them and think it's easier to set up from there....less paperwork.

[flyingmariner]

ANZ pay 2.25% on call, don't know about ASB?

I recently discovered that ASB Securities pays zero interest in their cash management account (required) unless you have a $250K balance.
Call me stupid but I didn't discover that until I went in there to tally interest payments for taxes.

[flyingmariner]

I recently discovered that ASB Securities pays zero interest in their cash management account (required) unless you have a $250K balance.
Call me stupid but I didn't discover that until I went in there to tally interest payments for taxes.

[Kelvin]

I recently discovered that ASB Securities pays zero interest in their cash management account (required) unless you have a $250K balance.
Call me stupid but I didn't discover that until I went in there to tally interest payments for taxes.

I used to keep my cash in an ASB call account, which allowed to me make an immediate transfer to the Cash Management account when I wanted to buy. But the rate for the On call account is now only 0.2%, up to 0.5% for > $100,000

ANZ Securities pays 1.5% right now

[kerryo]

I recently discovered that ASB Securities pays zero interest in their cash management account (required) unless you have a $250K balance.
Call me stupid but I didn't discover that until I went in there to tally interest payments for taxes.

ANZ down to 1.5% now. I don't think there are any balance limits.

[flyingmariner]

ANZ down to 1.5% now. I don't think there are any balance limits.

I guess it's up to the bank customer to keep abreast of any account changes etc. Having said that I went back through all ASB correspondence to see if there had been a warning or notice about the zero rate. Nah, nothing.

[100101]

ASB have stopped trading on the "unlisted" - although it was 60 bucks a trade when they did.
At this time ANZ still trades the unlisted - anyone know how much they charge?
I hadnt realised that ANZ still pay on call interest.
Have used ASB for years but these two things are enough for me to open an account with ANZ.

Just imagine if a new kid on the block started up like Access Brokerage - both banks would loose most of their customers unless they did a petrol company swifty and reduced their fees.

[sb9]

ASB have stopped trading on the "unlisted" - although it was 60 bucks a trade when they did.
At this time ANZ still trades the unlisted - anyone know how much they charge?
I hadnt realised that ANZ still pay on call interest.
Have used ASB for years but these two things are enough for me to open an account with ANZ.

Just imagine if a new kid on the block started up like Access Brokerage - both banks would loose most of their customers unless they did a petrol company swifty and reduced their fees.

Agree with you, just imagine someone with resources starting new platform with 10% cheaper fee than the existing suppliers, am sure they'll get lot of clients in a hurry.

[BeeBop]

Hopefully NOT like Access Brokerage....we got our money out 24 hours before everything was "frozen"....just in time to pay the deposit on our first home....

[see weed]

ASB have stopped trading on the "unlisted" - although it was 60 bucks a trade when they did.
At this time ANZ still trades the unlisted - anyone know how much they charge?
I hadnt realised that ANZ still pay on call interest.
Have used ASB for years but these two things are enough for me to open an account with ANZ.

Just imagine if a new kid on the block started up like Access Brokerage - both banks would loose most of their customers unless they did a petrol company swifty and reduced their fees.
Yes that's right, but they would have to charge less than .2% per trade to get my buss. Have also noticed my fast saver acc. int. has dropped from 1.3% a year ago to 0.1% today:t_down:.

[bull....]

fees are pretty high for online in NZ compared to the .11% most Australian brokers charge for trades and the even lower fees US.


Maybe its because theirs more work involved for a lower customer base ?

[Bob]

Just moved monies from my ASB fastsaver a/c (interest rate 0.45%) to their special 7 months term deposit rate of 3.7% minimum deposit $10000.
Should have done that months ago. kept enough back for any share purchases meantime.