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View Full Version : Best online broker for NZX and ASX? and do they give you research?



krusty
24-04-2011, 08:58 PM
Think I have been given the boot by my broker that appears to have hit the financial fan.
Need to find a new medium to use and am considering having a go at it alone and online.
Is Direct Brokering the only choice?
Do they give you research for using their service?
Any pointers?
What happens to my current portfolio? Should I try to tidy the lack of love that has inflicted it up myself - ie sell the scrapy low value dogs? eg TEL worth less than $1,000.
Thanks

MANDRAKE
24-04-2011, 09:59 PM
There's also ASB Securities.

karen1
24-04-2011, 10:12 PM
Hi krusty,

Can't tell you which the "best" one is, but I use ASB Securities and from day one (3yrs ago) have found it very user friendly for my inexperienced needs. You don't have to join to use their superficial research, just look up the name, but obviously there is more available if you become a client, although a common complaint with them is the lack of recommendation material. That said, there are plenty of sites to peruse for research.

I would say that what happens to your current portfolio will be the same as what happened to mine when I parted ways with my "advisor" a few years ago, you will take control of it, and contemplate for a while before trying to tidy the lack of love within it.

I actually let my original portfolio sit and percolate for some time, whilst I started a second one and a huge learning curve. It's only in the last year I have started to tweak the original portfolio, and then not too much because I'm reasonably satisfied with it. As for the second one, I'm now beginning to step outside my comfort zone and buy small numbers of a few stocks which for me is another learning curve, bringing confidence along with it.

And never, ever, underestimate the help available on this site! I imagine you will get far more sage advice than I have offered.

Good luck.

RazorX
25-04-2011, 08:48 AM
Hi krusty,

As far as I'm aware there are only two DIY brokers in NZ. These have already been mentioned. ASB Securities and Direct Broking. They both offer similar services at similar rates to my understanding. I went with Direct Broking and have never had a problem. Also they have a dedicated thread here where you can ask Alice from DB questions which is pretty cool: http://www.sharetrader.co.nz/showthread.php?5559-Direct-Broking/page39&highlight=direct+broking

Ultimately I am sure both providers would be sufficient for DIY so it comes down to personal preference... do you like red or yellow backgrounds? :p:D

STRAT
26-04-2011, 10:00 AM
Gudday Krusty.
You wouldnt be Captain Crusty out of Gulf Harbour by any chance?

I use DB.
Im happy with them other than the lack of a stop loss facility when trading on the ASX

krusty
03-05-2011, 06:04 PM
Thanks for the advice. I liked the research that was generated by ABN Amro (Craigs Investment Partners) that I sometimes saw. Would Direct Broking and ASB Securities provide something similar - normally a few pages in length for each share? Would I get a new IBN/SRN number or whatever they call it?

krusty
03-05-2011, 06:05 PM
Krusty hails from further downunder

krusty
05-05-2011, 05:50 PM
Where do you go for research on the shares that interest you?

karen1
11-05-2011, 07:38 AM
Krusty,

Right here on ST would be a good place for research on shares - just use the advanced search box top right of page. Beyond that, how long have you got to research a share? Just google one and take your pick - company reports etc etc.

And good advice elsewhere here is to visit sharechat.co.nz

RazorX
12-05-2011, 05:05 PM
Hi Krusty

In relation to this subject I received the following from DB about access they provide to research.



MAY 2011: Reuters BUY/SELL/HOLD consensus opinions and Updating your contact details









REUTERS BUY/SELL/HOLD CONSENSUS OPINIONS
Direct Broking provides access to Thompson Reuters consensus opinions, otherwise known as the 'Reuters Survey'.

The Reuters Survey consensus opinions are a collection of statistics and opinions from contributing stock market analysts. Access to the Reuters Survey is provided to assist Direct Broking clients who prefer to conduct their own research and gather information about a company before making a decision to invest.

Free statistics and opinions are provided for nearly every stock in all markets - NZ, AU, US and UK and include the following:

A consensus opinion to BUY/SELL/HOLD
Long term revenue growth prospects
Dividend Yield
Projected Earnings per Share (EPS)
Net Tangible Assets per Share (NTA/share)
Price to Earnings Ratio (P/E Ratio)
>> Click here to find out more





UPDATING YOUR CONTACT DETAILS


It is important to keep your address up-to-date with Direct Broking, as we may be required to withhold payment if there is a mismatch between our records and the records at the relevant share registry.

If you need to update your details with Direct Broking, please download the applicable form from our website.

Update for Individual or Joint accounts
Update for Company or Trust accounts
*You will need Acrobat Reader to view these documents

IMPORTANT NOTE: Unfortunately, Direct Broking is not able to pass your updated details to the share registries as they must receive notification from you, the registered shareholder.

View the relevant contact details for:

Computershare Investor Services (New Zealand)
Link Market Services (New Zealand)


Computershare Investor Services (Australia)
Link Market Services (Australia)
Perpetual Registries (Australia)
Security Transfer Registrars (Australia)
Registries Limited (Australia)


Australian CHESS clients are not required to directly notify Australian share registries of their new contact details - Direct Broking can do this on your behalf, please contact us on 0800 805 777 to discuss.

elZorro
16-09-2011, 09:39 AM
I have been using Direct Broking for a few years, and I still have my training wheels on. I don't need a full service broker, the transactions aren't too big in general. But I'm a customer of ASB Bank, and am thinking about swapping to them for share investing. Can I have some advice about that please?

Here's one thing, the ASB overall fees might be a lot less, just a flat 0.3% with a minimum $30 on NZ and Australia trades.

https://www.asbsecurities.co.nz/section91.asp?

You do have to have all of the cash waiting ready before placing an order with ASB. Direct Broking do it quite differently, if you have a Call Account setup like I do.

http://www.directbroking.co.nz/DirectTrade/static/ourrates.aspx

On the face of it, the first $15,000 at $29.90 then 0.2% fee NZ, 0.3% AU for internet purchases on the Call account look cheaper. They are, if you have every single cent of the money ready in the Call Account. If not, a new scale of fees applies. You have to look for this when you place the trade, and you get an invoice showing the brokerage/fee amount. At the end of the month, the statement is emailed to you, but those fees are bundled into each transaction, so you can't easily find out what you've spent with Direct Broking. (Is this legal?)

I've had a better look, here's how it works: You have a figure called the Trading Balance in your account setup. If you place a bid below $15,000, say, and you have at least the bid amount as a Trading Balance, then the fee will be $29.90. If you are one cent short, tough. The new fee will be $29.90 plus 0.4% of the whole share parcel cost (NZ) or a whopping 0.7% if they're Aussie shares (min A$40). You are now paying the standard internet DIY fee. It doesn't seem to matter that the trade won't be due for payment for another three days, and that the entire system is normally automated with software. This is partly in place to deter "free-riding".

That could explain why yesterday I made a gross return of $200 on a daily trade, but gave $117 of it to Direct Broking. Everyone is entitled to some profit, and the service is usually polite. Direct Broking (now owned by ANZ) has helpfully provided a list of staff on the contacts page. About 26 staff and maybe more. These people will need to invoice out at least NZ$2.6 million in brokerage fees, just to tread water each year.

That's just 100 customers spending like I do sometimes, but each trading day. One other thing that ASB might do, that DB don't (well not any more), is allow trading on the TSX, good for goldie shares.

I have just figured out (by using the spreadsheet service on "My Trades") that in five years I've spent $25,000 on brokerage with Direct Broking. The largest fee was over $400 for a TSX purchase, and I have spent about $90 on some ASX trades. Well done DB, you're doing better than I am with my shares. A lot better.