Any new trading platforms?

[babymonster]

Hi everyone, I do stock trading quite a bit for both nzx and asx, but don't want to 'work' for ANZ. Both ASB and ANZ charge quite a bit for each trade, just wondering anyone know any new platforms that do nzx and asx trading? Is Halifax good? Not sure this is the place to post this or not. Thanks

[Lewylewylewy]

I've wondered if it's worthwhile developing a platform. NZX charge for the connectivity, but if I could get enough users it would be worthwhile...

[RTM]

I don't trade a lot...however I think the ANZ charges are pretty reasonable for NZ and Oz.

[Lewylewylewy]

0.6% or greater is not cheap because it makes it difficult for day traders doing short trades

[see weed]

Hi everyone, I do stock trading quite a bit for both nzx and asx, but don't want to 'work' for ANZ. Both ASB and ANZ charge quite a bit for each trade, just wondering anyone know any new platforms that do nzx and asx trading? Is Halifax good? Not sure this is the place to post this or not. Thanks
What rate are you paying now? ASB = Minimum $30 up to $10,000 and 0.3% above $10,000.

[777]

What rate are you paying now? ASB = Minimum $30 up to $10,000 and 0.3% above $10,000.

I think he means .3% in and .3% out.

As long as you trade at least $10000 at a time then the rate is pretty reasonable. As a trader the profits are taxable so the brokerage is deductible

[Lewylewylewy]

There's the smart money.

Also sometimes they split your trade and charge you again. It's awesome, I love it lol.

Cost of trading for people in other countries is less, but then there are more trades to split the costs across. This is due to more traders and a larger, more liquid market abroad. IMO ;)

[Hectorplains]

Also sometimes they split your trade and charge you again.

I've never had this issue at ASB? They charge the brokerage on the first part of the trade only.

[777]

There's the smart money.

Also sometimes they split your trade and charge you again. It's awesome, I love it lol.

Cost of trading for people in other countries is less, but then there are more trades to split the costs across. This is due to more traders and a larger, more liquid market abroad. IMO ;)

Not at ANZ securities either. The brokerage is per order.

[LAC]

There's the smart money.

Also sometimes they split your trade and charge you again. It's awesome, I love it lol.

Cost of trading for people in other countries is less, but then there are more trades to split the costs across. This is due to more traders and a larger, more liquid market abroad. IMO ;)

Not sure this quote is correct.

[Lewylewylewy]

You think you're just charged on the order also, or you think that it's the same price to trade from the UK, say?

[Lewylewylewy]

I just checked, it's definitely cheaper to trade shares abroad using foreign banks.

I CBA to check if I got charged extra for split trades, I thought a while ago I did with ASB. Maybe I'm wrong?

[Hectorplains]

You think you're just charged on the order also, or you think that it's the same price to trade from the UK, say?

I know I'm just charged on the order.

[silverblizzard888]

Hi everyone, I do stock trading quite a bit for both nzx and asx, but don't want to 'work' for ANZ. Both ASB and ANZ charge quite a bit for each trade, just wondering anyone know any new platforms that do nzx and asx trading? Is Halifax good? Not sure this is the place to post this or not. Thanks

If you're planning to trade NZX stocks then ASB and ANZ is probably the best you can get, but if you are thinking of trading ASX stocks then Halifax is by far the cheaper one at $18.95 AUD compared to something like $40 AUD for ANZ and its pretty straightforward system, the interface is a bit more detailed (not as basic as ANZ), but its relatively easy to use too.

[see weed]

Hi everyone, I do stock trading quite a bit for both nzx and asx, but don't want to 'work' for ANZ. Both ASB and ANZ charge quite a bit for each trade, just wondering anyone know any new platforms that do nzx and asx trading? Is Halifax good? Not sure this is the place to post this or not. Thanks
If you spend thousands and thousands of dollars on brokerage, then they may consider a special discounted brokerage fee.

[couta1]

If you spend thousands and thousands of dollars on brokerage, then they may consider a special discounted brokerage fee. They don't and won't for retail investors unless your spending mega bucks not just thousands, hundreds of thousands plus maybe.

[OldGuy]

If you can't make money paying a round trip fee of 0.6%, you probably shouldn't be trading IMHO....

[couta1]

If you can't make money paying a round trip fee of 0.6%, you probably shouldn't be trading IMHO.... Exactly and even less than that at ANZ at 0.4% round-trip.

[777]

Exactly and even less than that at ANZ at 0.4% round-trip.

Australia is .6% at ANZ


When I started in the sharemarket there were only full service brokers and if I remember correctly brokerage was 2.5% each way. Which meant a 5% movement to cover trading costs. And still we made money.

[couta1]

Australia is .6% at ANZ Actually this is not correct, internet rates for holders of a OMCA, the first 30k is only 0.1% then 0.3% after that so you still end up with a 0.2% average and 0.4% round trip.

[babymonster]

If you spend thousands and thousands of dollars on brokerage, then they may consider a special discounted brokerage fee.

yes, i did get a discount for nzx stocks from ANZ, 0.2% for $10000, but i usually only put $2000-3000 for a trading stock. so it doesn't really help to reduce my fee.. i am considering using halifax for asx and keeping anz for nzx.

[babymonster]

Actually this is not correct, internet rates for holders of a OMCA, the first 30k is only 0.1% then 0.3% after that so you still end up with a 0.2% average and 0.4% round trip.

copied from ANZ website:
AU$29.50 per trade for each trade of less than AU$10,000 in value, or 0.3% of the value of the trade for each trade that exceeds AU$10,000 in value

[see weed]

yes, i did get a discount for nzx stocks from ANZ, 0.2% for $10000, but i usually only put $2000-3000 for a trading stock. so it doesn't really help to reduce my fee.. i am considering using halifax for asx and keeping anz for nzx.
Sorry, I only trade NZX. Don't trade ASX. Got a deal off ASB last year to match ANZ brokerage fees......Up to $15,000 is $30 and 0.2% above that eg. $25,000 trade=$50 compared to old fee 0.3%= $75. As long as I do heaps of trading.

[couta1]

copied from ANZ website:
AU$29.50 per trade for each trade of less than AU$10,000 in value, or 0.3% of the value of the trade for each trade that exceeds AU$10,000 in value

Not sure where you are seeing this but on my page it says. Trades for AU listed securities with a trade value up to 30k, $29 and 0.3% for anything over that value if you have an OMCA and use the internet.

[777]

From http://www.anzshareandbondtrading.co.nz/static/ourrates.aspx

New Zealand
Type of Security Brokerage and Fees
NZSX, NZAX Listed Equities NZ$29.50 for all trades of less than NZ$10,000 in value; or 0.3% of the value of the trade that exceeds NZ$10,000 in value
NZDX Listed Fixed Interest
(Bonds, Capital Notes,
Redeemable and Perpetual
Preference Shares). For each trade: 0.5% of the value of the trade up to NZ$50,000, plus 0.4% of the trade value above NZ$50,000.

Minimum brokerage of NZ$30.00 applies to each trade.

A trade fee of NZ$5.50 also applies to each trade.
Australia
ASX Listed Securities AU$29.50 per trade for each trade of less than AU$10,000 in value, or 0.3% of the value of the trade for each trade that exceeds AU$10,000 in value



From http://www.anzsecurities.co.nz/



OMCA Internet Rates
Brokerage
OMCA internet rates are only available to Online Multi-Currency Account holders with sufficient cleared funds available to fully cover the purchase of securities prior to submission of the order.
For trades for New Zealand listed securities (other than debt securities) with a trade value of up to NZ$15,000 NZ$29.90
For trades for New Zealand listed securities (other than debt securities) with a trade value exceeding NZ$15,000:
(i) for the first NZ$15,000; plus NZ$29.90
(ii) for the portion of the trade value exceeding NZ$15,000 0.20%
Trades for Australian listed securities with a trade value of up to AU$30,000 AU$29.00
For trades for Australian listed securities with a trade value exceeding AU$30,000:
(i) for the first AU$30,000; plus AU$29.00
(ii) for the portion of the trade value exceeding AU$30,000 0.30%

[Joshuatree]

Anyone else having probs withASB trading.? I can't trade atm.They often have glitches, clunky delays and shutdowns for maintenance and I'm getting close to leaving them.:scared:

[fiasco]

Such an issue with ASB - you can still do orders via the phone, but definitely not ideal!

I have an ANZ account which I don't use - contemplating moving across now.

[axe]

Anyone else having probs withASB trading.? I can't trade atm.They often have glitches, clunky delays and shutdowns for maintenance and I'm getting close to leaving them.:scared:

ASB has been down all day today for me......

[sb9]

ASB has been down all day today for me......

Likewise, managed to get in couple of times but not for long. Very disastrous, not at all happy, may look at ANZ.

[777]

From stuff

http://www.stuff.co.nz/business/industries/79713840/asb-securities-unavailable-blames-technical-difficulties

[bull....]

laughable really when its parent makes billions in profit

[sb9]

From stuff

http://www.stuff.co.nz/business/industries/79713840/asb-securities-unavailable-blames-technical-difficulties

Can understand few glitches and niggles every now and then, but down a whole day is a shocker!!!

[Food4Thought]

Very annoying ASB down. What a joke. Lag lag. No email. Pathetic. Of course you can call them. Not so easy if not in phone range or out of the country

[couta1]

Can understand few glitches and niggles every now and then, but down a whole day is a shocker!!! Switch to ANZ, have never known them to be down more than a few minutes since I've been with them.

[777]

Actually, and I don't, but you should really have both to cover situations like today.

[BeeBop]

About to move my portfolio from ASB private banking. Have spoken to them more than once seeking better service but received shallow responses and no changes. Now have meetings with two other banks and CIP to discuss the financial move. Appalled at ASB and have been for for more than a year with things getting steadily worse....try using their on-line platforms internationally c.f. other platforms that are available - far too dumbed down that ineffective for my needs. Good buy share trading with ASB.

[babymonster]

Switch to ANZ, have never known them to be down more than a few minutes since I've been with them.
agree, usually have issues before the market open and are fixed pretty quickly. I had ASB too just in case I do want to sell.

[Lewylewylewy]

This from asb today:

ServiceDisruption – Emergency Fire Alarm

Due to anemergency fire alarm at ASB Securities, our staff are currently in evacuationmode. As a result, our phone lines are currently unavailable and you mayexperience delays with orders going to market. We apologise for anyinconvenience this may cause.

I like how it's got lots of spaces missing, as if some poor guy was frantically typing before he was allowed to leave, while some raging blaze was going on in the corner of the room. Ha-ha.

ASB has been slammed a lot recently, but I remain loyal as my local branches have always been friendly and easy to deal with, unlike westpac.

[sb9]

Looks as though ASB Sec is broke again. Market depth, trade and volume information is all wrong now from what was at open, c'mon guys you can do better than that!!!

[777]

Looks as though ASB Sec is broke again. Market depth, trade and volume information is all wrong now from what was at open, c'mon guys you can do better than that!!!


Read the above posting.